A Plan for Finding and Buying a Home
If your reading this article, then you are probably considering if you would like to buy a home or not. Buying a home takes a lot more time and research than purchasing a couch or computer so before getting to far it is important that you understand the process. Every home buyer’s timelines are a bit different but the process is ultimately the same.
The first step to take would be to find a mortgage broker. Don’t just use the first one you find on the internet, do your homework and see what options different brokers offer. It’s ok to shop around. Not all mortgage brokers and banks have the same kinds of loans. A mortgage broker should be able to tell you what loan will fit your circumstances best.
The reason for finding a mortgage broker before starting your search for a home is so you know what your budget is and don’t waste your time looking for homes you can’t afford. Once you have decided on a lender and know what you can afford, get a pre-approval letter to provide your real estate agent with. When you decide on a home and write an offer having a pre-approval letter will help make your offer more appealing to the seller.
Once you have your pre-approval letter and know what your budget is, then it is time to start the home search process. Home searching has become easier than ever, there are many online sites you can use to view home listings and virtual tours.
When searching for homes if you don’t know the neighborhoods it is best if you do a little research and check out statistics and reports for the area.
Put together a list of things you are looking for in a home, prioritize the list from most important to least important, this will help you make a game and plan. Once you have your list find a local real estate agent. Forming a relationship with a agent early in your process of searching will be invaluable.
Your agent can help you in determining the value of the homes for sale that you are looking at. Don’t feel rushed or pressured, buying a home is a big decision and a long-term investment that you want to be happy with. Most of all have fun and build some relationships along the way.
The real estate agent that you choose to work with can be a valuable assesset to you as well as making a lifelong friend.