As exciting as the home buying process can be, it can also be something many people dread, especially if they’re buying a home for the first time. It feels as if there are so many individuals involved with many intricacies. It’s understandable that folks can be easily overwhelmed, but they don’t need to be. In fact, when you break them down, the steps to buying a home are quite simple. Take a look below.
Learn What’s In Your Neighborhood
The home buying process starts with research. When you begin your search, you’re not necessarily looking for the home you want to buy (though you can certainly take note of if you find one you really like). Instead, you should be looking at the prices listed for homes currently on the market and how much recently sold homes went for. This will give you a strong idea of how much you can expect to spend.
Get Pre-Approved for a Mortgage
Before you can make an offer on any home, you’ll need a mortgage. Based on your financial situation. you may qualify for a number of options. Make sure you ask any questions you have about the terms of a mortgage before you agree to the loan.
Find a Real Estate Agent
Pick a real estate agent who not just works in your area, but lives there. They will have stronger knowledge about the ins-and-outs of your neighborhood and the location of any home within. Real estate agents bring a lot of expertise to the table. Plus, you don’t pay for their services upfront: they’re compensated by the seller when the deal is finalized.
With a qualified real estate agent on your side and a mortgage to your name, it’s time to start shopping for your dream home. Look at houses in your price range and take any recommendations from your agent into consideration. Attend tours and open houses to get a closer look at homes. Take note if a particular home has what you’re looking for, as well as any shortcomings.
Get a Home Inspection
A home inspection should be arranged by your real estate agent to seek out any internal problems with the home that may not be obvious to a home buyer (plumbing issues, for example). Not only does it give you a heads up, but it can also be used to knock the price down further.
Finalizing It All
At long last, it’s time to seal the deal. As you might imagine, there’s a lot of paperwork that needs to be signed, plus there’s a brief period of waiting for the loan itself to get funded. Once everything is in order, the seller gets paid, they pay the agent, and you have a new home!
The Martin Freeman Group is here to help you during each and every step of the home buying process.