Buying Your New Home
Here are a few tips on the buying process:
- Take your time, don't rush through the process.
- Meet with a Realtor and make sure that they are prepared to walk you through the entire process.
- Visit Open Houses with the idea of figuring out what you like or dislike in a home. Look at the listing provided at the home and identify the square footage. It is helpful when you are narrowing down style and size of home when looking at future listings.
- Do not make an offer on a home without your agent having an opportunity to view the home with you. A buyer is inclined to look at the decorating, a good agent looks for all the hidden items and value of home.
- Line up your lender and get a pre-approval. You do not have to use this lender, but you now have a good idea of what you can afford. Keep in mind that what you are approved for and comfort level of spending are two different items. Factor in vacations, entertainment, etc.
- Once you have selected a home, ask your agent to provide comparable homes that have sold in the area. This allows you to make an educated decision on your offer.
- Once your offer is accepted, interview home inspectors. You want a home inspector that is thorough, but not an alarmist. In most cases, you are not purchasing a new home and even the most meticulous of homes will come up with home inspection items. Be prepared to take on some of the responsibility of updating or maintaining.
- Review the home inspection with your agent and come up with a list of requests. You may have to bring in a professional if there are items that require review.
- Hire a Real Estate attorney. The attorney will review the Purchase and Sale agreement and ensure that your deposits are protected should you not be able to get a mortgage or if the home is not in the same condition as when you made the offer. The attorney can also represent you with the mortgage and at the closing.
- Apply for your mortgage on a timely basis. You will be excited to move into your new home and don't want any delays.
- Your agent will be by your side all the time following dates and deadlines. They will direct you to setting up utilities including cable companies.
- Last but not least, start packing. Reach out to your Realtor for a mover. They will be able to direct you to experienced movers.
- Your relationship with your Realtor should never end at the closing. Reach out your Agent with recommendations for local service people. They are typically the best resource.