So, you’re finally ready to take the plunge and buy your first home! Congratulations! This is an exciting time in your life. But before you start touring houses, there are a few things you need to keep in mind. This blog post will walk you through the entire house-hunting process step-by-step and discuss all of the factors you need to consider when choosing a home for your family.
1) Get Pre-Approved for a Mortgage
Getting pre-approved for a mortgage is an essential part of the house-hunting process. It provides you with a realistic picture of what you can afford and helps sellers take your offer more seriously. In order to get pre-approved, you’ll need to provide lenders with proof of income, financial statements, and other documents related to your current finances. The lender will review all the information, including credit score and debt-to-income ratio, to determine an estimated loan amount they can offer you.
2) Start Shopping for a Home
Now that you have your pre-approval letter in hand, it’s time to start shopping for a home! First, make sure you are familiar with the different types of homes available and decide on which type fits your lifestyle. Consider factors such as size, location, amenities, and features of the house before making any decisions. Also, make sure to check out the surrounding neighborhoods and understand what local services, such as schools, parks, hospitals, etc., are available nearby.
3) Schedule Property Tours and Inspections
Once you have narrowed down your choices, it’s time to schedule property tours. Make sure to allot plenty of time for each tour so you can really get a feel for the space and look out for any potential issues that may arise. During this time, be sure to ask questions about anything that concerns you, such as repairs needed or improvements made in previous years.
Of course, you shouldn’t pass on a property that has minimal issues that you can handle yourself after you move in. For instance, some people who sell their homes will do them up so they look amazing to potential buyers, others, don’t care as much. If you have been through a home that has good bones but you make your way to the backyard and it is overgrown with leaves everywhere, don’t turn on your heels. This is a cosmetic issue and it can be rectified through your own maintenance. Using leaf blowers, a mower, mulcher, and a trimmer, you can transform that yard into your own outdoor heaven. People need to imagine themselves in these homes, which can make them say no even to minor problems, but you can look through that.
4) Put in an Offer and Negotiate
Once you’ve found the perfect home, it’s time to put in an offer! Work with your realtor to make sure your offer contains all of the necessary information, such as price, contingencies, closing date, and any other details you feel are important. Your realtor can also help negotiate a fair price with the seller if needed.
5) Finalize Your Mortgage and Close on the Home
Now that you have made an agreement with the seller, it is time to get your mortgage paperwork in order. Have your lender review all of the documents needed for approval and contact them if there are any questions or concerns. Once the paperwork is all finalized, it’s time to close on the home! Congrats, you are now a homeowner!
6) Moving Homes
Once the closing is complete, it’s time to start packing up your belongings and preparing for the long distance moving. This can be an exciting but stressful time, so remember to take care of yourself and lean on your family or friends if you need help. After all of your items are moved in, it’s time to make this new home a place that reflects your style and feels like a true reflection of you and your family. Get creative with decorating ideas that bring out the best in each room while making it comfortable and inviting for everyone.
House hunting can be both exciting and overwhelming at the same time. However, by following these steps and using helpful resources along the way, you will have no problem finding your perfect home in no time!
