Buying A Home

Introduction

Buying a home is one of the biggest financial decisions you’ll ever make, so you want to make sure it’s a good decision. If you’re looking at buying a home in 2019 or 2020, we have some great tips for how to get started. These tips will help reduce stress and ensure that your first home purchase goes smoothly!

Know Your Budget

Before you start house hunting, it’s important to know your budget. How much can you afford? Be realistic about what you can afford and stick to it. Make sure you can afford your new home. If possible, plan on having at least a 3.5% down payment so that the lender doesn’t require PMI (private mortgage insurance if you own less than 80% of the value of the home). Also, make sure that you have funds ready for closing costs (you have to prepay taxes & home insurance and there are a few lenders and attorney fees).

Find A Real Estate Agent

• Find a Realtor who works in the field full time and has experience. They will work with you, the inspector, the appraiser, the attorneys as well as the other agent to coordinate your home purchase from start to finish. So make sure you have a good Realtor on your side.
• Don’t be afraid to consult with them. They are there to help you make an informed decision, not just sell you a house.
• A real estate agent can help you find the right home that meets your needs and desires – whether that’s an apartment or a house, urban or rural; single-family residential or multi-family property. They also have access to the MLS system which allows them to find homes that aren’t even listed yet!
• Realtors have access to all of these tools because they are required by law as well as their local board of Realtors (the governing body for their industry). This means they can help you get in contact with sellers directly through calls or e-mails on behalf of their client/customer/client base instead of relying solely on other agents.

Talk To A Loan Officer

Talk to a loan officer about your options. It’s important to ask questions about the loan process, and how much you can expect to pay for your home, down payment, and closing cost. You can also ask them to give you an idea of what your mortgage payment is at for each given price range. A good place to start is by asking what type of mortgage program would be best for you. There are a number of programs offered that can help a variety of people in different situations. You may want a fixed-rate or adjustable-rate mortgage, depending on whether you’re planning to stay in your new home long term or not—and whether there are any other factors that could affect how long you stay there.

Ask your lender what kind of payment plan they offer and how much interest will be charged on it over time, as well as what closing costs are associated with buying a home (like appraisal fees). The more informed you are about these aspects of buying a home, the better equipped you’ll be when negotiating with sellers and real estate agents alike!

Preapproval Letter

A pre-approval letter is a letter from the lender stating that you have been pre-approved for a loan. The letter may state the maximum amount that can be approved, or it may simply indicate that you have received approval to apply for a mortgage. A preapproval letter is typically required in order to view homes for sale and to put in an offer on a home.

Start Shopping For Homes

The first step in the process of buying a home is to start shopping for homes on the internet. You can use real estate websites like our website www.TheCouryteam.com, Zillow, Trulia, and Redfin to view listings. These sites have detailed information about each property so make sure you have plenty of time set aside to look at them all.

Once you’ve compiled a list of homes that interest you, it’s time to get some help from an experienced real estate agent who will be able to guide you through the process of looking at properties in person, assessing if they match your goals, and negotiating with sellers on your behalf once you want to put an offer in. The goal here is not necessarily just finding something that appeals to your taste; rather, it’s finding something livable that fits within your budget and meets other criteria (such as location).

Pick A Home To Tour

The first thing you need to do is figure out exactly what you want. This can be challenging if this is your first home and/or it’s been a long time since you’ve bought. Don’t worry about being too specific, though; by the time we get through this process with you, I’ll know exactly what it is that will make you happy in a new home. Communicate frequently with your agent as they are your advisor or consultant throughout the whole process.

The next step is to start looking at all the homes that fit your needs as close as possible. One thing you SHOULD do before going out on any showings is get pre-approved for a mortgage.

Tour The Home(s) You Picked

Once you’ve found the homes that you want to see, set up a time to tour them. When touring houses, pay attention to the following:

• Location, Neighborhood, and Street Conditions
• Size of Home and Property
• Condition of Home (exterior, interior)
• Property Taxes/School Districts/Age of Home
• Does the home meet your needs
• Does it satisfy some (or more) of your wants

All of these are very important when considering buying a home.

Put In An Offer And Negotiate A Price

At this point, you will have a good idea of how much you can afford to pay for the home. It’s time to put in an offer and negotiate a price.

• Consult with your Realtor. They have experience and a strong knowledge (hopefully) of the Real Estate market in your area. Listen to their advice. If they are good at what they do they will have valuable feedback that can ensure you get the house, help you get the best deal, and advise you based on their experience.
• If your offer is rejected, do not be discouraged! This happens frequently when buying a home because sellers often have unrealistic expectations about what their house is worth or how much money they can get for it.
• If your offer is accepted by the seller, congratulations! You are one step closer to owning the home of your dreams! Your agent will guide you through the next steps: including inspection, loan requirements, appraisal, and any post-inspection issues that need to be addressed. They will work with you, all of the other stakeholders in the process like the attorneys, and the other agent to coordinate your home purchase from start to finish.

Have The Home Inspected

Having a home inspection is one of the most important steps in buying a home. A professional home inspector will thoroughly inspect the property and report on its condition. He or she can identify potential problems with:

• Structural integrity
• Electrical systems
• Plumbing systems (including heating and cooling)
• Insulation and ventilation
• Heating equipment (stoves, furnaces)
• Safety & livability issue

Buying a home can be a stressful process, but we can help.

Buying a home can be a long, stressful process. The home buying process is complicated and at times confusing, but we can help. We’ll take the time to explain all of the steps involved in purchasing a property and make sure that you’re aware of all costs upfront.

We know that there are many options out there when it comes to purchasing homes but we are confident in our process, our experience, and our expertise. That’s why we were able to help 51 clients achieve their Real Estate goals last year in one of the most difficult and competitive markets in US Real Estate history.

Conclusion

Buying a home is a big decision, and we want to help you make it the best it can be. Our team of experts can provide you with all the tools, resources, and advice needed to make this process as smooth as possible. Whether you’re just starting out or are looking for your next home – let us help!