The Home Buying Process – 7 Steps To Help You Begin
The home buying process may seem overwhelming since it requires a lot of time and research, but it’s important to make that effort since you ultimately want to find a home that is perfect for your family. These seven steps will help you get a better idea about how the home buying process works and hopefully clear up any questions that you may have:
Peruse home listings online, with mobile apps, or the old fashioned way- in newspapers. See what type of home catches your attention. This can help you narrow down your interests later on. Pay attention to how long the houses have been on the market and any price fluctuations. This can give you an idea of the area’s housing trends that a real estate agent can explain to you in greater detail.
Determine Your Budget
Take the time to calculate how much you will be able to afford for a down payment, monthly mortgage payments, and utilities. There are numerous mortgage calculator websites that are available to help with this process. Be sure to also calculate the cost of any new furniture that needs to be purchased, remodeling projects, and any other costs you think you may have. Once you’ve done that, you’re ready to figure out how much you can spend on a home.
Get A Real Estate Agent
Don’t get yourself caught in the web of forms, financial information, pricing, and negotiating. It is in your best interest to work with a real estate agent since they are professionals in this realm- they can provide information on the market that you wouldn’t be able to find on your own. Using a real estate agent won’t cost you a dime since they are paid off of the commission of the seller’s property. Paul Chunyk has worked in the real estate industry since 2001. He utilizes marketing techniques to provide his clients with the best competitive advantage.
Start Your House Hunt
Take a drive or go on tours of the houses that have caught your eye and are in your price range. You’ll be viewing several homes, so it may help to take pictures and jot down notes for each property. When touring a house, pay special attention to see if the water is running properly in the sinks and flip the light switches to make sure the electrical system functions correctly. Note the schools and shopping centers near the house, especially if you have kids or plan on starting a family. Work with your agent to find the right home that fits your needs and interests.
Request A Home Inspection
Once you have found the right house but before you sign the papers, have a professional perform an inspection. A home inspection is probably the most important step in the buying process. A professional inspector will make sure the house is in a stable, working condition by examining the entire house to determine its safety level and bring to light any issues. The inspection lowers the stress and risks of purchasing a home. If the inspection provides positive results, you are one step closer to moving in. If there are negative results because of a leaky pipe or unstable roof, talk to the sellers to see if they can cover those costs or lower the asking price so you can do the repairs.
Close The Sale
It’s vital to have a home inspection before closing the deal. Determining a date for both parties to close may be the biggest struggle since the seller may need to wait until they move into their new property or until your current lease ends. Remember the closing costs such as a down payment, inspection fees, attorney fees, and anything else of that nature. Once you have closed the deal, you are ready to move into your new home!