Looking for a new home can be an exciting and challenging experience. I work hard to not only find the perfect home for you, but also to handle every last detail of the purchase process, from negotiating the terms of sale to recommending moving companies. To help you get started on buying your new home, take advantage of these valuable resources.
Ultimately, your lender will pre-approve you for a certain amount, but YOU will decide what you're comfortable paying every month. Remember, your lender only sees your finances on paper. It's up to you to decide how much you're willing to stretch your budget in order to get into your dream home.
1. Choose a loan officer.
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2. Talk to few lenders and get a preapproval.
3. Determine what you want to pay and select a loan option.
So you are preapproved and ready to begin your search.
But how or where do you begin? There are a lot of homes out there and diving in without a guide can become overwhelming and confusing.
A great agent will help you more accurately pinpoint homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible. Some questions you might ask yourself include:
What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability a priority?
Would I be interested in a condo?
What features and amenities do I want? Which do I really need?
You'll learn as you look at homes, your priorities will probably adjust along the way.
Step 3 - Make an offer
Once you've found a home you love, the next step is making a compelling offer. While emotions are probably in high gear once you've found a home you love, it's important to remember that a home is an investment.
I will research similar properties in the neighborhood to help you determine the market value, and fair price, for your home.
The three basic components of your purchase offer are price, terms and contingencies.
Price is the dollar amount you are approved for, willing and able to pay.
Terms cover the other financial and timing factors that will be included in the offer.
Contingencies are clauses that let you out of the deal if the house has a problem that didn't exist or which you weren't aware of when you went under contract. They specify any event that will need to take place in order for you to fulfill the contract.