Owning your own home is the dream of most Americans. According to the latest statistics almost 70% of Americans are homeowners! But we all started at the same place: Decision Time. Whether it’s a job promotion, a growing family, or a desire to invest in ourselves we all start the beginning. Make sure to get the free buyers resources: Buyer’s Guide and 4 powerful checklists.
Define Your Goals
Any successful endeavor is rooted in a well thought out plan! I can assist you with tools to help you understand the steps needed to begin. For example, what are the “must haves” for your next home? Do you like a pedicular neighborhood, need specific amenities, minimum number of bedrooms and bathrooms, or even a specific type of home? Getting that list together will be helpful for you and your agent throughout the home buying process.
Review Your Finances
Whether you are getting a mortgage or paying cash for your next home, it’s important to make sure your finances are in line with your goals. Having a written budget will help you understand the costs and assure the needed savings are in place to support your home purchasing goals.
Get Pre-Approved
If you’d like to get a loan, also known as a mortgage, to help you buy your home know that shopping for a competitive interest rate is a prudent idea. Lenders charge fees for their services and having several to compare against can save you lots of money in the long run. Make sure they are easy to talk to, answer your questions, and get back to you in a timely manner. Also, check their online reviews!
Once you have picked a great lender you will want to get pre-approved. You’ll need a pre-approval letter to include with your offer. Being pre-approved lets you know what loan type you’ll use and how much you may spend on your home. Your lender can also provide you with estimated closing costs and how much your monthly payment is likely to be based on any homes you might be interested in.
Hire a Real Estate Professional
Who you hire matters!
It’s often been said that a good agent is with their weight in gold! Finding and buying a home can be a complicated process and there can be pitfalls along the way that an experienced agent can see coming and protect you from. Make sure who you hire is aligned to your goals, and has your best interests in mind. They should be easy to talk with, listen to your goals, and should return your calls promptly. Make sure there is a proven repeatable track record of success and read the online reviews for social proof. Buying a home is exciting and you want a REALTOR® on your side you can trust.
Search for Homes
With your “want list” in had, work with your agent to find homes that have the features you like. Looking at homes online is a great way to build your “go see” list. Pick a day and time frame that works best for you and make sure to spend enough time in each home. It’s common to not find your dream the first time out. Each home you view gives you a better idea of what a specific price rage offers in each specific area. Keep looking, your home is out there!
Make an Offer & Negotiate
Once you’ve found your dream home, it’s time to put together an offer. This is one crucial area where an agent’s expertise and experience really matters.
Once your offer has been accepted, it’s time for your agent to schedule any inspections that are needed. Every home is different and might need more inspections then another. For example, you might need to inspect the home itself, check for radon, the well, the septic system, and you’ll also want a WDI, or termite inspection.
Secure Your Financing
This is a great time to check in with the lender. They love good news so share with them you find a home to buy. They will need to make sure the value of the home matches the offer amount and will order an appraisal to make sure. They might also need updated financials from you to keep their process moving along.
Settlement Day
Depending on your loan type, closing is typically between 30 and 45 days. You will want to do a final walkthrough of your home a day or two before to verify that any seller required repairs were completed to your satisfaction and that the home is still in it’s original condition.
During the closing you can expect to meet with the title agent (who is often an attorney), your agent, and the lender as well if you hired someone local. Your title agent will go through all the necessary paperwork and explain what each item is. This is a great time to ask questions too!
When you are all done signing you are officially a homeowner! Congratulations!
If you would like to have FREE face to face buyers Q&A call/text Sean Jones at 540-360-5166 or simply fill out the form below.