Six Tips for
Buying a Home

Finding a home can play games with your emotions. Here are some tips to make the process more enjoyable. Buying a home is a major milestone and for some, may be one of the most significant purchases in their lifetime. For those who are new to the process, purchasing a home can be exciting and can quickly turn to anxiety as talk of finances, home inspections and new real estate terms make their way into daily conversations. It’s no secret…navigating the world of homeownership together requires some extra work. We’re there to walk you through step-by-step.

Get pre-approved for a loan. There are few things worse than finding the perfect home, only to find out that it costs more than one can afford. Before beginning the house hunt, we highly recommend getting pre-approved for a loan. With a pre-approval you will know where you fall financially while informing the mortgage company that you are ready to buy. Additionally, being pre-approved for a loan can help speed up the closing process once an offer has been accepted. If you don’t have a lender in mind, we can supply a list.

Set a budget. Beyond income and savings, there are a number of other financial elements to consider before setting a price range for the new home. Once you have decided on a location, you should consider its proximity to family, jobs and schools for children and gauge travel costs. The next step is to add up monthly bills, including car payments, phone bills, insurance, groceries, and credit card payments. This total estimated cost of living should be factored into the overall budget.

Decide what you want and need in a home. Whether it is a quiet neighborhood, privacy or a two-car garage, everyone has their own “must haves” when it comes to the home of their dreams. Keep in mind that you may not be able to find all of the features in a future home, so be prepared to compromise. Once the list of “must haves” is finalized, contact us. We are real estate professionals who can determine if the expectations are realistic given the homes currently on the market.

Allocate additional funds. The down payment on a new home is just one of the significant financial aspects of a move. You may also need funds for inspections, appliances (refrigerator, washer, dryer), furniture, etc.

Be patient. A Coldwell Banker Real Estate survey found that women are likely to make up their minds faster than men. Almost 70 percent of women surveyed decided the day they walked into the house that it was right for them, while 32 percent of men needed two or more visits. It may take multiple trips to the home before you decide it is “the one.” Take inventory of your belongings. Before moving into a new home, you should make a list of the furniture you plan to keep. There may not be a need (or a place) for three televisions and two kitchen tables in the new house. Consider selling unwanted pieces of furniture online, or holding a garage sale. The money made is sure to be put to good use on purchases for the new home.

Sign a contract. We are ready when you are. A sales contract is a legal and binding document. Once we find the home of your dreams, we will discuss the terms of the contract. We will explain the details, it’s important that you know what you’re agreeing to. Take a deep breath and relax, we won’t let you miss an important date.