Buying a home can be the start of the best decision you have ever made. However, between finding the right place, securing the loan and moving in, you are likely going to experience some stress. Purchasing a home is a large commitment, and the emotions of making such a personal investment require a great team behind you, which is why we are here to help.
Here are 10 tips that will help make you a successful homebuyer:
- Have the Right Partners - You will work with your mortgage planner and real estate agent a great deal throughout the process, so working well together is crucial. Take the time to select a great team in the beginning, and your first home purchase will be a pleasing and memorable experience.
- Income + Lifestyle = Mortgage Payment - Be open, honest and up front with your real estate agent and mortgage planner when discussing your income level and living expenses. Take in to account future considerations such as children and plans you may have for repairs and upgrades for the house. Your dream home is certainly worth a sacrifice, but don't mortgage your entire future.
- Utilize Your Team - Don't be afraid to ask questions. Your mortgage planner and real estate agent are there to support you and work together for your benefit.
- View Several Homes - See multiple properties. With your agent's help, you should be able to view enough properties to have a good overall perspective of the home market.
- Imagine the Property Vacant - Your furnishings and decorations will be the ones filling this residence, so don't be swayed by beautiful furniture that leaves with the owner.
- Be Thorough - Explore all costs and expenses before you commit. These include utilities, taxes, insurance, maintenance and homeowners association dues.
- Inspect, Inspect, Inspect! - Ensure that the inspection report was completed by a professional and examine it carefully. For condo purchases, review the bylaws and association fees.
- If It is Not in Writing, It Does Not Exist - All promises and discussions should be in writing. Don't make any assumptions or believe any verbal assurances. Have your real estate agent keep an ongoing log in writing of all discussions and acquire the seller's written approval on all agreements.
- Complete a Final Walkthrough - Visit the property after all furnishings have been moved out, to be sure that there are no surprises. Be certain that the property was left exactly as you agreed upon in the contract. Ensure that all utilities are turned on during your walkthrough, so you can inspect everything in working order.
- Plan for Flexibility - Closing dates are not written in stone. Allow for contingencies and have a backup plan. If you or the sellers need a little more time to conclude the final arrangements, do not let delays upset or frustrate you.
Many steps are involved when purchasing a home. While there may be some bumps in the road, I am always here to help in any way I can. Call me today to schedule an appointment to review your financial plans. I look forward to the opportunity to help you make the best home loan decision and show you the path toward homeownership.