As a first time home buyer, or as someone who has been out of the home buying market for a bit, you might not know or remember the steps you need to take in order for your home purchase to go smoothly. We’re here to help!
Talk to mortgage bankers.
Many buyers get caught up in the thought of a new home and immediately go on a search without taking the time to talk to a mortgage bank to get pre-approved. In this tight housing supply, a pre-approval letter can often be the difference between your offer being accepted or not. At Sharon Quataert Realty, we have a list of trusted mortgage banks and loan officers that you can rely on and we’d be happy to make a connection for you.
Develop your home/neighborhood wish list.
Do you have two children but are still a growing family? Factor that into your bedroom count. Would a big, fenced yard be perfect for your four-legged friend? Include that too! Make your list, then prioritize it so you’ll know what kinds of homes you should tour. Then, select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety.
Be ready to move.
This is especially true in this market with a low inventory of homes for sale. It’s very common for home buyers to miss out on a home they wish to purchase because they take their time making an offer. By the time they do, they may find that someone else has been a little quicker on the draw and has already purchased the house. If you have done your homework, it really is okay to buy the first home you see if it matches all your criteria.
Make a good offer.
Many are under the impression that their first offer should be low so they have room to negotiate. The best offer is a fair offer and Sharon Quataert Realty will make sure yours offer makes sense. Do what you can to ensure the offer is appealing to the seller because your offer may not be the only one.
Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate. A home inspection will allow you to get a sense of when repairs might be needed. All homes need repairs sooner or later.
It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. At Sharon Quataert Realty, our goal is to get you the best home in the least amount of money that can sell quickly should the need arise.
Some content in this post has been provided by: http://realtormag.realtor.org/