how to prepare for a home purchase
Buying a home gives you a sense of freedom that renting cannot provide. But it can be one of the most time-consuming and stressful moments of your life if you’re not armed with the right information or you’re buying at the wrong time. Home buying still is one of the greatest decisions you’ll ever make and you can live in that home you choose for the next 20 years, which makes it very important to prepare well. In this article I offer home buying advice to help prepare you for your next home purchase. So, before buying, you should:
- Talk to home loans on demand’s loan officer.
Get Prequalified!!! It’s easy to start sear
ching for homes before even knowing how much home you can afford. But it’s not the best route to take. You need to talk to more than one broker and compare mortgage rates. It’s important to understand how the home loan process works as a first time buyer. So, ask mortgage brokers any question bothering you and make sure you fully understand.
- Get Ready!!!
In many markets with low inventory this is really important. There is more competition for homes nowadays. You could miss out on that house of your dreams if you fail to act fast. Be ready to take quick decisions but don’t make hasty descisions.
- Find a trusted partner.
It is absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process. I offer home buying advice to help my clients every step of the way (check sandy flores’ profile).
- Make a good offer.
Remember that your offer is very unlikely to be the only one on the table. Do what you can to make sure it is attractive to a seller.
- Factor repair costs in your purchase budget.
Even brand new homes will require some work.
- Think about the future.
Think about the resale value of the home. It’s easy to get engrossed with the perks that come with the home but think also about the resale value ten years later when you want to sell.
- Select where you want to live.
Compile a list of three or four neighborhoods in which you would like to live, taking into account nearby schools, recreational facilities, area expansion plans, and safety.