Navigating the Home Buying Process

With the market slowly on the rise, if you are considering buying a home, now is the time. The benefits are overwhelming when owning your own home too. Not only is there a sense of pride in owning your home, but it is a great investment, has tax advantages (in most cases), and allows you to build equity.

As you begin the process of home buying it is always good to understand what steps need to be taken to own your home. Here are some things to do before and while you are moving forward:

• Hire a real estate agent. Hire a qualified agent to help you find your dream home and make the whole buying process easier. Real estate agents are here to help you, answer your questions, and make sure nothing is overlooked.

• Shop for mortgage rates and terms. Even a half of a percent difference could mean huge savings for you in the long run. Speak with a mortgage lender to better understand the rates and what you qualify for. 


• Prequalify for a loan. If you go in to the home buying process knowing how much you can afford can make all the difference and let sellers know you are serious about moving forward in the home buying process.


• Visit properties. Take time to shop around, see what you like and don’t like. Your real estate agent can be a huge help here by finding properties that will meet your needs and stay within your budget.


• Research. Take the time to tour houses and talk with your agent about what features can help or hurt the resale value of your home. Take note of what you liked and didn’t like so you have a more concrete picture of what you want/need in a home.


• Make an offer. Once you have narrowed in on your dream home, you will want to make an offer. Utilize your agent to help you negotiate and handle the financial and contractual side of the dealings. 


• Arrange a home inspection. After the offer has been accepted, you will want to set up a home inspection. Be sure to hire someone who is certified to check the home for leaks, cracked walls, or foundation problems. Note, you can negotiate repairs as part of the purchase. 


• Close. This is where you sign the final paperwork and receive the keys to your new home. 


• Prepare for your life in your new home. Now you can relax and get comfortable in your new home. Unpack and make the home your own. 

What are some questions you have to home buying? We are here to help and will answer any of your questions.