Finding and buying a home is one of the most stressful times in many peoples lives but if you follow some basic tips in the infographic below you’ll find the process much less daunting so you can make the best decision possible.
Get a Home Inspection
1. Get a home inspection to evaluate the safety and overall condition of your new home, even if it appears flawless.
Get Preapproved for a Loan
2. Before you start house hunting, get pre-approved for a mortgage loan.
Communicate Through Your Agent
3. When you want to ask or tell the seller something, always go through your real estate agent.
Put the Deal Into Writing
4. Get the seller to put every component of the deal and any verbal agreement into writing.
Include Contingencies With Offer
5. Include important contingencies, such as financing and property inspections, with your offer.
Develop a Wish List
6. Come up with a realistic wish list. Find out what you can afford in terms of house size, neighborhood and amenities.
Know Your Local Market
7. Know as much about the local market as you can. Use your agent’s CMA to learn about the selling price of comparable homes and the strength of the local real estate market. Also research through social media to see what home owners in that area are saying.
8. Decide what’s most important to you before the negotiation so you know what parts of your offer you’re most comfortable giving up.
Look Into Government Programs
9. Look into programs for first-time homebuyers. See if you qualify for the lower interest rates, low down payment options and down payment assistance programs some banks and governmental organizations offer first-time homebuyers.
Research Real Estate Agents
10. Don’t just work with the first real estate agent you come across! Do your homework and find one you’re comfortable with and that has the experience you need.
Keep Other Houses in Mind
11. When you begin negotiating on a specific property, know of other houses you’d be interested in buying. You don’t want to be so desperate to buy a certain house that you give in to whatever the seller wants.
Scope out Neighborhoods and Neighbors
12. Talk to neighbors to get the inside scoop on what it’s like to live in the neighborhoods of homes you are interested in. While doing so, gauge if you would like to live next to these people for the foreseeable future. Many area’s have a Facebook page you can join to see what the general atmosphere of the neighbors seems to be.