Buying a new home can be extremely overwhelming for some people. There are so many things to consider and so many things to remember. Here is a handy checklist to use before you make a real estate investment.
Before you begin looking for a home, make sure you have help. Look for real estate agents or brokers that you feel you may trust. Get family and friends who are knowledgeable to give you some solid advice to that will help you with this process. Be sure to check references if you feel uncomfortable.
Make sure you’re ready to buy a home. You should have a steady source of reliable income, a pretty good credit score, money saved for a down payment and the willingness to manage a long term debt.
Create a checklist of things that are important to you in a home. It is so easy to fall in love with a home and have it not really be the home that best fits your needs. If you approach the home buying process strategically by making a list of what you want it to have, you’ll make a better buying decision.
Think carefully taking a camera with you so you can keep track of the details of each home. Definitely take along a notebook and your checklist so you can compare homes.
Is it important to you where your children go to school? If so then be sure to only look at those properties that are in acceptable school district that you like. Don’t waste your time and the time of sellers and agents by looking at homes outside of areas you’re not going to be purchasing.
Consider getting pre-qualified before you begin the house hunt. This helps you know how much you can afford and it makes the negotiation process go more smoothly. The seller has a high degree of confidence that the deal is going to go through.
Stick to what you can afford. There is always going to be a bigger, better, nicer property to buy. Instead of looking at what you can’t afford, stick to looking at homes in your price range. This also means knowing in advance what you can afford. A financial institution may tell you that you can afford more than you think you can. Use your judgment and your personal budget. Remember there are closing costs, taxes, insurance, and maintenance expenses to owning a home.
Research areas and home styles you like before you contact an agent. This will help narrow your home search and help you find what you want more quickly. Remember that while you have a checklist to use to compare homes, no home is going to have exactly what you want. Nothing is perfect. Find a home you can be happy with and be willing to give and take a little.
Never forget to get every agreement you make in writing and have it signed by all parties involved. Make sure to get an inspection and to make purchasing the home contingent on it passing an inspection. The last thing you want to do is buy a home that is full of unexpected problems and needs thousands of dollars in renovations just to be able to live in it.
Buying a home can be a very fun and exciting process. Take it slowly, evaluate all of your options and make decisions that are right for you. Follow these simple step and remember to use common sense and ask as many questions as you can so your next property purchase goes very smoothly.