So you want to buy a home! What now?

Give yourself a 12-14 Week lead-time.

Let’s look at your current picture. If you are renting, plan your move so that you can avoid paying both rent and a new mortgage. If you have a mortgage talk to one of our real estate agents about listing your home and potential listing price or any nearby comps (comparables).

Before you start your search.

First things first, you will need to speak with a lender (maybe several to find the best fit for you). You will need to determine how much home you can afford. Make sure what you are searching for fits within your budget. Also, ensure you have enough savings for closing costs, any repairs the home may need and a down payment. *Remember to consider HOA fees in your final total.

Do not do anything to change your financial picture.

DO NOTHING. Your pre-approval letter from your lender will be impacted by any changes to your financial standings during your house hunt. This includes: no new credit cards or charges, not leaving your current job, do not buy or lease new automobiles, boats, motorcycles etc. Your lender is the best resource for information on what you need to do to keep your financial standings. Always discuss any required changes with the lender first. DO pay all of your accounts on time, if not early. Be prepared for estimated closing costs and pre-paid costs which may be required to finalize your mortgage. Your lender and real estate agent can help you estimate these.

The Search

House hunting can be stressful, hang in there! The market changes frequently and quickly sometimes. If you find the right home at the right price, act as fast as possible. It may not be available next week, or the buyer may receive multiple offers. You may have to tour a home more than once to make your final decision on which one is right for you. If you see a home you can eliminate quickly, do it. Save yourself some time, and go on to the next. Your agent can provide you a list of homes matching your criteria to help you refine your search.

Contracts and Inspections

A good agent can give you the tools and advise you need in making the final decisions on what to pay for your home. An agent can also help you identify potential concerns before your home is inspected. This process can determine any potential problems with the home. Many buyers choose to include an inspection clause, that would allow them to move on to another home, if a particular property has serious concerns. An agent can also help negotiate a lower price depending on what is uncovered in an inspection.

If you are ready to start your home search, contact our expert agents to start learning more details about buying a home.