How to Prepare to Buy a Home

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    Talk to mortgage brokers.Loan-App

    Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely. Four common questions to ask a mortgage broker are as follows:

    images (1)Can Can I get references?

    download (3) How long have you been in business?

    download (4) How do you handle rate locks?

    download (5) How are you compensated?


    Be ready to move.Grays-Home-Solutions-Getting-Homes-Sold

    This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.

    Find a trusted partner.shutterstock_192013175

    It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process. Four tips to find an agent that works best for you are as follows:

     

    images (1) Ask around: simply ask trusted friends and family for any personal experiences with realtors.

    download (3)Attend open houses

    download (4)Attend home buying/selling seminars

    download (5)Look for ads

     

     

    Make a good offer.people - sold home handshake

    Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.

    Think ahead.house_for_sale

    It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers.

    Develop your home/neighborhood wish list.AAEAAQAAAAAAAAS2AAAAJDkwYWEwNDg5LWRhNDMtNDY3ZC04OGE1LWY0NWNmMzMxM2E1Mw 

    Prioritize these items from most important to least.

    Select where you want to live.download

    Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety.

    Factor maintenance and repair costs into your buying budget.iStock_000022634151Small-300x225

    Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.

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