So, you're finally ready to start looking at buying your first home. While this is a very exciting time for a person or couple, it can also be very confusing and stressful. While every house comes with new challenges and different steps in the process from viewing to moving in, there are some things that every new home shopper should keep in mind before making an offer.
Get pre-approved for a mortgage. This may seem like a give-in but there are a lot of overeager home shoppers who start looking before getting approved for their mortgage. There are several reasons why this is an important first step. For one, it allows you to see the limit of your budget for a home. It's a waste of your time and energy to look at homes that are above your mortgage-allowed price range. It would be a shame to find a house that you believe is perfect for you and then realize that you can't get the funds together to pay for it. On the same note, most sellers will be weary of negotiating with a buyer who does not have their mortgage approved, especially if there are other buyers on the table.
Do research. The only way to get the best price for the best home in the perfect neighbourhood is to do the necessary research within your city or town. Prices can vary significantly from one neighbourhood to another and different styles and amenities mean more or less to different people. If you're someone who doesn't mind a commute to work and entertainment, maybe you can afford a more spacious home on the outside of town. If you're someone who needs all of the latest designs and technologies, looking into prices for condominiums is probably your best bet. Knowledge is definitely power in the real estate business and you can never be too prepared.
Consult your real estate professionals. This is especially important for people looking for real estate who are not familiar with the area. Your agent can provide a wealth of information to help you with your search, from price ranges within certain neighbourhoods to the historical and cultural significance of the city. A home inspector is also a vital member of your real estate team. There are many ways for stagers or homeowners to hide structural problems within a house during a showing and a home inspector is the only way to ensure that you know what you're paying for. A good home inspection company, like Housemaster, will send out a qualified inspector that will dig deep into the property and look for things most would not even consider. Plus, the best thing about a company like Housemaster is they are available in many of the cities you may be buying real estate.
While these tips should help to ease your mind a little at the beginning of your real estate search, there is still much to think about before making an offer. But, once you have these steps out of the way you can get to the fun step of house hunting! Be sure to read How To Blow The Sale so you can do exactly the opposite when it is your time.