Buying a home is a daunting process and there’s a number of steps involved. Hopefully this checklist will assist you.
Figure Out Your Finances
Work out the financing ahead of time – a pre-approval is always the best way to start looking for a home. Get your finances in order by:
- Checking your credit report and correcting any issues on it
- Finding out what incentives or programs you qualify for
- Determining what kind of mortgage you’d like to have
- Applying for pre-approval and shopping around for the best rates
Figure out Where You Want to Live
Once you’ve figured out how much you can afford to spend, the next step is to find neighborhoods that offer homes in your price range. When comparing neighborhoods, it’s a good idea to think about certain features, including:
- Crime
- Commuting
- Schools
- The age of the neighborhood
- Access to services or supplies you need
Make A List Of Your Wants And Needs
Try to limit the list of things you need in your new home to no more than five things that are absolute deal-breakers for you. The rest can go on the list of things you’d like to have. Take some of the following things into consideration:
- Home type (apartment, single/family home)
- Square footage
- Cost
- Minimum bedroom and/or bathroom count
- Garage
Figure out the Background
Working with a real estate agent is important as they can assist you with the background info. You may want to learn more about:
- HOAs
- Zoning
- Changes
- Liens
- Easements
- Assessments
- Restrictions
Visit Homes
Because you’ve already done your homework, this is just to make sure everything is as presented and you feel comfortable there. Your realtor can set this up so you can see multiple homes in one day
Generate An Offer And Begin Negotiations
By this point, your agent should be overseeing just about everything, so it’s only a matter of hammering out the details.
Run A Few Final Checks To Ensure Everything Is As It Should Be
There are many things one should consider about a home when choosing to buy:
- Home inspection
- Appraisal
Home Inspection Surprises
A seller may be willing to make certain repairs, or may reduce the price of the home if it wasn’t up to par. If changes were completed, you’ll also want to schedule a time to make a final pass through the residence.
Possession
Again, your realtor will be invaluable at this time, as they will help make sure everyone has done as they should have, make arrangements for the final deal, and also help keep track of all the people involved in closing, as well as where you are in the process.
Buying a home can feel like a complicated process, or it can be incredibly simple. It really depends on what problems you encounter along the way, and whether you have the expertise needed to navigate these issues as they pop up. Remember – you do this once in awhile – your realtor does this all the time.
I have over 15 years of expertise to assist you as well as connections to all the services you will require along the way.
Give me a call to discuss how we can get you started today.
Lisa