8 Steps to Buying a Home
A lot of first time buyers don’t have a roadmap when they are looking to buy a home and finally gain that independence. Plus, buying a home has an abundance of benefits! Here are 8 steps to buying a home:
1. Decide if you’re truly ready to buy a home. This is a BIG decision and is certainly emotional. It can often be the biggest purchase of your life! Definitely take a good hard look at your finances and do some up front investigating into WHERE you want to live.
2. Hire your real estate agent! Agents like me put their clients first and help you achieve your home dreams. A great agent will help you understand current market conditions, help you understand what your needs are, coordinate with others involved in the purchase to take the stress off you, give you multiple suggestions based on the information you provide, negotiate on your behalf, make sure all fine print is read and deadlines are met, and lastly, always suggest solutions based on any problems. Sometimes, the best real estate agents are found based on how they handle problems or mistakes along the way.
3. Getting financed! Usually, your real estate agent will have suggestions on who to work with. In my case, it’s my loving sister who can take great care of you 😊 the financial consultant will tell you if you’re being realistic, review your current situation, discuss different options and plans, negotiate terms for you, and keep you informed all along the way.
4. Find your home. One key thing to keep in mind is that as you look at homes, your priorities, needs, and wants will change. Think of what’s most important to you. Size? Location? Any amenities? How much space do you really need? Interested in a fixer upper? Perhaps a short sale? (link to short sale article) Is the neighborhood stability important? How important is value appreciation to you? Do you want to be near main roads to help your commute? What’s not negotiable? Those are just a couple questions to get you started.
5. So now you’ve found that perfect home! Time to make an offer. Exciting! Remember – your home is your investment. You’ve got all the support from your real estate agent and financial agent. Keep in mind the existing marketing conditions, future predictions, list price, and any changes you’ll need to make to the home.
6. Don’t panic. Take a moment to breathe. Sometimes those big fixes that need to be done are actually quite simple!
7. Once the offer is accepted, close the deal! This is an important time. You need to make sure you keep a close eye on your finances. Don’t make any big purchases or put anything on credit. You need to stay stable. Of course, keep in contact with your real estate agent! Don’t be afraid to ask questions.
8. Move in and begin planning for the future. Make sure you are maintaining your property appropriately and tracking your property value along the way. Keep in touch with your real estate agent as time goes on too.
You’re done! Congrats! You made it through the home buying process. Not so bad was it? Always feel free to reach out to me about your home buying needs.