You’ve decided to buy a house. A big congrats from our team to you! Whether you’ve been looking for a while or you’ve just started your journey, we have all the pro tips to keep you from getting lost along the way.
First things first, write a list of necessities. If a backyard is a must-have be sure to eliminate non-qualifying listings. Maybe anything less than 3 bedrooms is a dealbreaker; don’t waste time looking at the 1 or 2 bedroom listings. If you desire room for renovations, opt to search for houses in suburbs or outside of city limits where typically properties are accompanied by larger pieces of land. House-hunting is overwhelming and you’ll be surprised how helpful it is
to dwindle down that list. You have needs so establish them early on.
Next up, determine your budget. If you have a flexible budget, try to pinpoint a maximum amount. Knowing how much you are willing to spend makes the buying process easier and quicker. When searching for financing, loan officers will want to have a detailed discussion all about your budget, income, and anything else finance-related.
Which brings us to the next stop; shopping around for financing. Some people choose to find a house first, then hunt for financing, while others prefer being pre-approved before getting their hopes up. Either way, you have to shop around for the best finance options. Never go with the first establishment to approve you; as there might be a dozen more that are more than happy to loan you money and could offer you lower rates. Ask friends, family, realtors, and even social media for financing recommendations. Just remember that everyone’s situation is different. While one person might warn you of one bank, another might swear by the same bank’s phenomenal service. Always remember, at the end of the day the decision is yours to make (and you’ll be stuck with your choice for 15-30+ years).
Now that the nitty-gritty details are in order, it’s time to have some fun. Shop around online, watch papers, drive around desirable neighborhoods looking for realtor signs. Contact local realtors to ask about available options. When viewing houses don’t get caught up in realtor sales-talk. Be sure the house fits your needs and is somewhere you can envision yourself living 10 years down the road. Always have homes inspected and if an offer seems scammy or too
good to be true, be sure to do your research.
First time home buying is an experience many people look forward to, so have fun with it! The world is your oyster, go find your place in it.