Top 5 Tips for Home Buyers
- Talk to a representative at a mortgage company and assess your finances. A loan officer will help you determine what you can afford and what additional expenses (closing costs, inspections, etc.) to anticipate. They will also discuss the types of loans that are available and which would be a good fit for you.
- Once you’ve discussed finances with a loan officer, have them issue a pre-qualification or pre-approval. This helps hone in on the price point and neighborhoods to conduct your search; it also helps to ensure a smooth closing process once you have made an offer on a home. If you are paying with cash, be prepared to provide proof of funds.
- Call a Realtor. Your best bet in navigating the home buying process is to have a knowledgeable and supportive real estate broker at your side. Choose a Realtor you are truly comfortable with and do not hesitate to ask questions along the way.
- Make a list of “must haves”- size of home, number of bedrooms and bathrooms, capacity of garage, and size of lot. Think about neighborhoods you may already like or characteristics you desire in a neighborhood. Keep in mind “needs” and “wants” and allow the “needs” to take priority.
- Take your time. Don’t feel pressured to fall in love with the first home you view or to make an offer when you are not certain. Space out the number of homes you view at a time and take note of what you do and do not like. More often than not, you’ll know which home is right for you when you see it.