Given that buying a home is such a big step, it is very important to educate and prepare yourself as much as possible. This means clearly determining the reasons you're buying and what kind of home you're looking for. Since buying and financing a home are so closely related, it also means examining your current financial situation and projecting how much you can afford.
We recommend that you get pre-approved for a loan before you start viewing homes. You meet with a lender and they examine your credit history to make sure there are no hiccups. The lender will then approve you with documentation on the amount you can borrow to buy a home.
- You will know what you are eligible to receive and be able to plan accordingly
- You will be taken more seriously when you make an offer
- Lenders can tell you if you qualify for special programs that will help you afford a better home
The key to the home search process is knowing what you are looking for. Distinguish your "must-haves" and your "like-to-haves." It is very important to view homes in person. While the property details may seem similar online, homes can be very different in terms of layout, design, workmanship, and other aspects.
- 92% of Buyers use the internet or mobile apps to search for homes
- The typicl buyer searched for 12 weeks and views 12 homes
- 97% of buyers view real estate agents as important in the home search process
If you have efficiently taken care of everything connected with purchasing your new home, taking ownership should be a positive joy with no surprises. Key steps to closing are:
- The Final Walk Through - you will be given the chance to look at the home one last time to make sure it is in the same condition as when you signed the sale agreement
- The Settlement- This includes paying your closing costs, legal fees, property adjustments, and transfer taxes.