Getting a Game Plan: Buying a Home Simplified
February 26th, 2008 Categories: For Buyers
You’ve been thinking about buying a home for a long time and have just not known where to start. It can feel overwhelming with so much information out there but here’s a simple plan for getting you into your new house!
1. Write down what kind of home you’re looking for- and be specific. How much space do you need? How many bedrooms? Baths? Do you need any special space like a guest house or media room? Will you do work? Do you need room for kids to play in the yard?
2. Set a budget. Decide how much you can afford to invest each month in your house payment. Realize that there are extra home expenses that come up so give yourself a cushion.
3. Have a lender look at your finances and credit history. Find out what kind of loan you will qualify for. Get pre-qualified or pre-approved before you start looking. Many people find the idea of talking to a lender uncomfortable but it’s very painless and a great place to start. It will give you a roadmap and if there are problem areas of your credit, they will give you suggestions for how to improve it.
4. Talk with a Realtor. You could do this before you talk a lender because they can offer you a recommendation for someone they trust. Working with an agent is going to save you a huge amount of time, effort and money. Find someone you feel comfortable with and who understands what you’re looking for. You want someone who is going to be patient and have your best interest at heart.
5. When house-hunting, write down your likes and dislikes. Don’t be shy- express how you feel to your agent. Honest communication is essential and the agent will be glad to hear what you have to say. All homes start to blend together after a bit so make sure to write down ideas as you go.
6. When you find a home you like, make an offer. Your agent will help you get a good idea of the value by showing you what homes are selling for in the area and how long they are taking to sell.
7. Have fun! All this work will be worth it!
