Buying a home is both exciting and stressful. Here are some pointers on how to buy a new home that will help prevent negative situations before they arise.
In searching for the right property, keep in mind that your new house should meet the needs of your family in size, style, location, and price. Don’t get fixated on one property during your house-hunting, as new houses appear on the market every day. Hire a real estate agent to help you locate potential properties in your price range. The agent will also be invaluable during negotiations. The ultimate goal is to buy a home that suits your needs at a price you can afford.
Create the Right Team to Work With
When you decide to buy a home, you want everyone in the process to be reliable and trustworthy. Find a reputable real estate agent, and you’ll have someone to advise you on the next steps to take so you can confidently move forward with your purchase. The agent will also help you communicate and coordinate with everyone involved.
Another important person on your team is the home inspector. Even if the seller had a pre-listing home inspection, you’ll want to hire someone to perform one for you. The inspector is an experienced, well-trained professional who will provide the information you need to make a smart decision about your purchase.
7 Steps to Successfully Buy a New Home
1. Get pre-approved for a mortgage. This step may be key to getting the house you want. Sellers will take your offer more seriously if they know you already have a lender.
2. Find a good real estate agent who you feel comfortable with. You can search for properties online but use an agent to coordinate all the details for you.
3. Make a list of what you need and a separate list of what you want. This list will help you and your real estate agent find a property that suits you.
4. Submit an offer after only consulting with your real estate agent. Better yet, allow the agent to submit the offer for you. They can advise you on what to offer based on how long the house has been on the market, how many people have submitted offers, and the condition of the property.
5. Be prepared to spend money on a reputable home inspector and on an attorney. Together, they will verify that all aspects of the sale are legit and that your purchase is a safe and solid investment.
6. There will always be other houses, so don’t get attached to one property. You might end up paying more than it’s worth or more than you can afford.
7. Consult with your lender to learn about additional costs such as property tax, interest, and closing costs.
Buying a new home is an exciting time. With a helpful real estate agent and a knowledgable home inspector, you’ll make a well-informed decision about your investment.