Find a Realtor you like and trust.
Find a knowledgeable Realtor you like and are comfortable with and then put them to work for you! As a Realtor, I know today’s market, the neighborhoods and what price point homes are selling for or not. Interacting with Appraisers, Inspectors, Lenders, Builders and other Realtors is a crucial part of the industry and keeps me in tune with the latest developments.
Review Your Financial Health and Talk to a Lender.
It is important to know how much house you can afford to buy. Do not disappoint yourself by looking online at homes and then finding out your house budget is a different number. That is why speaking with a Lender is so important. A Lender can give you a ballpark idea by just asking a few questions over the phone. After completing that first step then set an appointment to review your financial criteria in depth. Sellers will not generally accept an offer unless a Buyer is pre-approved for a mortgage with a Lender.
List your wants and needs.
Creating a list of what you want and need in a home has several benefits. It helps you prioritize as you and your Realtor preview available homes within your budget. As you shop for a home, it may be necessary to adjust your list based on the local market. Be sure to lean on your Realtor for advice when you are unsure if your list meshes with your budget.
When you find a property, crunch your numbers again.
When you are ready to make an offer, obtain a net sheet from your Lender. Be sure to consider closing costs, moving expenses and any immediate repairs or appliances you may need before you can move into the home.
Do not forgo a home inspection.
After your offer has been accepted, schedule the home inspection right away. A home inspection is completed so you know the condition of the home you are writing the offer on. All homes (even brand new ones) can have some issues. The most important needing immediate repairs are safety issues (loose wires, etc.). Repairs may be negotiated with the Seller.