Buying a home is one of the most important investments that many people will do in their life. And because of this it can be very stressful, confusing and at times feel like you the buyer are lost. Below are some of my personal tips of the process that comes with buying a home.
This is where I personally believe every buyer should began in the buying process. This step is crucial because by obtaining financing it allows for you the buyer to get an idea how much you can afford. Makes the home search process much easier and allows for time not to be wasted. A great place to start looking at financing is with your banking institution, if your bank isn't able to assist you or if you don't like what they are offering, always check with your realtor because in most cases they will have several preferred lenders that would be more than happy to assist you and try to provide you with the best product.
So you were able to get pre-approved for a loan, great! The next step I always recommend is to narrow down the areas that you and your family are interested in. Narrowing down your location allows for the realtor to provide you with home options that are not only within your budget, but also in the areas that you have shown great interest in! Some helpful tips when narrowing down your location are; near your favorite recreational areas, near your childrens school, near your place of employment or even near your favorite coffee shop!
You finally found the perfect home, congrats! Now it's time to submit an offer for the property. During this process it is important that you have an experienced realtor representing you, because not only will they be submitting an offer for you but in most cases they will also be negotiating for you to get you the best deal. So make sure that the person that is in your corner is confident in what they are doing.
Hooray! Your offer was accepted and now you are one step closer to owning the home of your dreams. Home inspections are done typically between 10-15 days after the contract has been executed. When it comes to home inspections I also highly recommend them because it allows you to know of any possible issues with the home before you purchase it. And don't worry, if you don't have home inspectors on speed dial, your realtor more than likely will have a few that they can recommend to you.
Financing, check! Found your home, check! Inspections, check! Now it is finally closing time! This for most of my clients is the most exciting time for them because they will be able to move into the home of their dreams! Let the celebrations begin!