D+N Team provides the same professional experience to each client regardless of how large or small the home purchase. Purchasing a home is a big decision and finding the perfect home or investment property to fit your needs is just as important to us as it is to you. We strive to build long-term relationships, not just short-term transactions. You can trust that the D+N team will explain every step of the process so that you will also feel like an expert in the purchasing process. Not only are we here to advise, but also to advocate and empower.
8 Home Purchasing Tips
There are so many things you know now that you probably wish you knew sooner. We don’t want that to be the case with your home buying experience. Here a few tips we have learned along the way to help make the home buying process a little smoother.
Knowing what you want can make a big difference in the kind of homes you chose from. If you plan to relocate within the next several years, you may look for something requiring minimal investment in upkeep and repairs. If you are planning to plant roots in your long-term home, something that could be renovated or improved to fit your needs may be a good option.
To avoid missing great opportunities and to discover more about what you want and do not want in a home, online property search tools can be useful. Monitor other homes in your desired area and price range. Your D + N realtor can help you make sure the home you are considering is appropriately priced through comparative market analysis.
One of the best moves you can make when purchasing a home is finding a professional real estate advisor that you trust and are comfortable with. Industry professionals can provide valuable insight and inspire considerations that may have been overlooked without guidance.
The sooner you can get prequalified for a home loan, the easier it will be to determine what homes will best fit your budget. This will expedite the buying process and provide much-needed incite to make important decisions. Your real estate agent will be able to refer you to a mortgage broker to help with this step.
Write down your wish list. It is important to give you realtor as much information as possible about the things that you really want. This can be things like number of bedrooms, transportation, shopping, scenery, schools, house style and more. It will be much more difficult to find your perfect home if your realtor does not know what makes it perfect for you.
Nearly everyone has a camera phone these days. Keep track of the houses you have looked at, including the things you liked and disliked with photos. Once you have a looked at enough houses, they may all start to blend together. Taking photos will help!
Home inspection is often overlooked but is a crucial aspect of purchasing a new home. You never know what might be hiding in the floorboards or leaking in the basement. Your purchase offer should be contingent on a successful home inspection conducted by an independent professional home inspector. Plan on paying for this service yourself to avoid any bias. The results may be perfect or they may cause you to ask for a price reduction.
There are so many fun things about discovering your new home. Don’t forget to step back, relax and enjoy the adventure in anticipation of something truly great.
The Buying Checklist
Evaluating your credit is part of a much larger question: Can you afford to purchase a home? Regardless of the answer, knowing your credit limitations is valuable information. Your credit ranking will help determine the size and type of home loan you are able to obtain to purchase a house.
Buying a home is potentially one of the largest investments you will make. It is more than reasonable to be picky about who you trust to guide you through the process. The primary decision will be the real estate professional or realtor because they will be with you every step of the way. A good agent will also be able to refer to additional professionals throughout the process.
Only a licensed professional can sell you a home. You have a lot of choices. Here are some things to take into consideration when deciding which realtor or real estate professional you want to have along for the home buying experience:
1. What are their professional certifications?
2. Are they knowledgeable about the community you wish to live in?
3. What are their expectations for the purchasing process and the steps to be taken?
4. Do they have a list of references?
5. What are their expectations for communication? Are they going to be available throughout the process and to what degree?
6. Are they accustomed to working with new home buyers?
You have a right to shop around for the best loan for you and compare the charges of different brokers and lenders. Getting Pre-approved is an important part of the buying process and it can be stressful. You will be required to address how your income and debt determines your loan and thus the purchase ability for your new home. Here are some questions to ask a potential broker:
1. What are their fees?
2. What do they think of your chances for qualifying? (be skeptical of over-confident brokers)
3. What lenders to they work with?
4. Why should you choose them over another broker or a direct lender?
You may want a castle on a hill surrounded by a lake with a mote, but that is just not for everyone. Make a list of the things that are most important to you. These could be a number of things. For example:
- Square footage
- Number of bedrooms
- Amenities such as a pool, fireplace, garage, hot tub, patio
- Wheelchair accessible
- Proximity to schools districts, transportation, shopping, or outdoor activities
- View from the kitchen window
This is the fun part! You get to tour a number of beautiful homes where you can evaluate the things you like and dislike, giving you a clearer view of what is most important. Find inspiration and take notes so that you can recognize potential when you see it. Your realtor will be able to help identify properties that fit your criteria, which can really make the process a lot smoother.
Once you find that perfect home that meets all your criteria, it is time to place an offer. It is best to work very closely with a real estate professional during the negotiation process to ensure that your best interest is represented. The listing price is only the starting point.
A home inspection will help give you peace of mind and potentially uncover hidden costs that could be addressed before finalization of the sale. It is important that you hire an experienced inspector that understands potential underlying issues for homes in your area. A home is a big investment and omitting this step could prove costly. If issues are discovered, you may have the ability to negotiate the price.
Closing day represents the momentous occasion when you sit around a table reading and signing very important papers. This is the home stretch. After all of the I’s are dotted and T’s are crossed it can be a few days to only a few hours before those keys are finally in your hands. Congratulations, you are a homeowner!