How to Make Buying a New Home as Simple as Possible

Anytime you buy a new home it is always an exciting adventure. In order to buy a home, you need to know some details about credit, finances and savings. In addition, you want to make sure you get the type of home and features that will best meet your needs. Buying a home is a long term proposition, so you want to do your homework. If you remain focused on your goals and avoid making irrational emotional decisions, you will feel good about your purchase for years to come.

What to do before You Begin your Home Search

You must be focused on those features that you want in your new home. You must have some realistic goals. If you will put these goals and home features in writing, it will help you during the entire process. For example, take a few moments and write down everything you would like to have in a new home. Don’t stop to evaluate or pass judgment. It’s like a brainstorming session. Once you’ve written everything down, carefully review your list. Put a one beside feature that is most important to you and your family. Then, put a two by the next most important feature. Continue doing this for 10-15 features. Once you have this prioritized list, keep it handy. Review it with your real estate agent up front, so he/she will show you homes that meet you specific criteria.

How Much Can You Afford

Before you begin searching for a home, get pre-approved for a loan. Ask your realtor for suggestions on competent and competitive lenders. Once you’re pre-approved, you will know exactly how much you can spend on that new home. To simplify your meeting with your lender, take a moment and write down you monthly expenses and income. If you have a budget, bring a copy of it. This will help you and your lender determine what you really can afford to pay for a new home.

Keep Focused… Avoid Emotional Decisions

The adrenalin rush will kick in when you start looking for a new home. Don’t let the excitement of the moment overrule your good judgment. Although you will see many homes with nice lawns and beautiful features, keep your list of priority features with you. You probably won’t find a home will all the features you desire, but you will find one that has the most important features you need in your new home. Always remember, the appearance of a home can and will change. The furniture will be gone when you move in. You can paint a wall and drastically alter the appearance of a room. Once the seller is gone, the home will be much different… It will be your home.

Evaluate Several Homes before Making a Final Decision

Just because you love the first home you tour, don’t quit looking. You need to see the features of several homes to understand what you’re getting in the home you decide to buy. There is no set rule on how many homes you should view, but make sure you see enough homes to help you feel comfortable about your decision. By comparing multiple homes, you’ll have a good idea about the value of the home you choose to buy. Peace of mind is very important when making such a large purchasing decision.

Get a Home Inspection

After you’ve compared homes and know the home that is right for you, check it out very carefully. First, you need to look at all the details of the home yourself. When you’re satisfied, then the next step is to get a professional home inspection. A professional inspector will look at all the major items in your home… those you see, as well as those things you cannot see. You will be given a comprehensive report. Review this carefully with your home inspector. This information can be extremely valuable when negotiating the final purchase price. Just because something looks good, doesn’t mean it is… Always, always have the home checked out. It will save you stress, heartache and potentially thousands of dollars.

While the home is being inspected, you should check out the expenses associated with owning the home. For example, how much have the utility bills been during the previous twelve months? What will it cost to insure the home? What is the current property tax? Ask as many detailed questions as you can. You real estate agent can be a valuable resource to you.

Put Everything in Writing

Unfortunately, the days of a handshake and a promise have gone the ways of the old west. Any promises or agreements that are made between the buyer and the seller must be put in writing and signed by both parties to make them valid. Put everything in writing…. NO EXCEPTIONS!

Work with a Full Time Professional Real Estate Team

If you want to get the most home for your money, carefully select a full time professional real estate agent. He/she will have a number of people to help you in the buying process. The agent will work hand in hand with these professionals to make your dream come true. There is a lot of difference between a dream and a nightmare. When you work with competent professional, you will have the best real estate experience of your life.

Honesty is the Best Policy

Once you’ve taken the time to select a good full time professional real estate team, always let them know what’s going on. When you’re honest with them, they will be honest with you. The trust factor is a major reason you selected your real estate agent in the first place. Keep him/her informed and up to date at every step of the process.

Make a Final Inspection before Signing the Sales Agreement

After everything has been moved out of the home, take time to make one more detailed inspection of the home. If the seller agreed to have certain repairs completely, check them out. Is the home in the same condition as you agreed upon in the contract? You don’t want any last minute surprises.

Don’t Be Afraid of Negotiating

Although you will do a lot of work and set a lot of dates, things invariably change. Don’t get overly concerned about that. For example, a closing date may change. It may be sooner or later. You should have a back up plan in place to help you during your transition to your new home. When you have taken the time to anticipate changes in dates, your transition will go a lot smoother.

Part of the process of buying a home is to make an offer. If you don’t make a full price offer, you can expect a counter offer. Negotiating your final purchase price is what real estate is all about. You should already know what you can afford to pay, so stay as focuses as you can on your plan. Your real estate agent has the responsibility to help you through the negotiation process.