Purchasing a New Home with Confidence
Spring is just around the corner and that means the housing market is gearing up for the busiest time of the year! Whether you are a returning home buyer or a first time home buyer, there are some real estate purchasing chores that can be taken care of now so when the deal of a lifetime reveals itself in the near future, you can be confident that:
- You’re qualified to purchase the home
- You know this home is realistic for your personal needs
Must Do’s before Purchasing a New Home
- The number one item on the to do list is to visit a few mortgage lenders in the local area. A great tip is to always use a lender that has an office locally. When making one of the biggest purchases an individual will make in a lifetime, you want to be able to talk face to face with the person handling the funds. You also want to compare products so be sure to visit at least three different lenders so that you find the right product and company for your specific needs.
- Visiting a lender will also give you insight as to how much how you can afford. When shopping for a new home, don’t overstretch the budget by buying too much house. Also assess any repairs or remodel needs and those costs before committing to purchasing a home. Definitely know if you are in the market for a remodel project or move in ready house.
- After securing financing, decide what location you are aiming to move to. Neighborhoods can make or break a home purchase deal. Even though a house is move in ready and equipped with the most popular finishes doesn’t mean it’s a forever home if the neighborhood is less than desirable or too conservative with HOA rules. Decide if you want to be close to your job or if you need sidewalks. Do you want to have little to do with neighbors or no neighbors at all? These decisions need to be made before looking at houses.
- Research local realtors. If you have never purchased a home, then it is a great idea to use a realtor. Experienced realtors have knowledge about the most popular up and coming neighborhoods, access to the most recent MLS listings and can even help with acquiring financing if needed. Open up the conversation now with a realtor about what you are looking for and he/she can begin searching for your next great deal.
It’s Never too Late to Prepare
So, if you are in the market to buy a new house just know this – it’s never too late to start getting prepared. Making that next home purchase with confidence will inevitably make one of life’s biggest decisions an exciting time! If you or you and your partner have taken the steps to get educated (regarding mortgage loans and the entire home buying process), have a plan(know how much you can afford and have hired a realtor) and know your wants and needs(location, home amenities, move in ready or remodel) then you will be more than prepared to make a deal when the market is swamped with other buyers…if not for yourself then for outsmarting and quickly making a better offer in the event you successfully outbid another buyer with confidence.