According to statistics, 31% of home buyers who purchased a home in 2020 were first-time buyers.
If are new to house hunting, there are a few things the pros know you may not. There are tons of different components involved in the home buying process.
So, being an intelligent house hunter means you know how to navigate this process and find the right home for you. Here are some tips from the pros to help you out. Let’s get started!
1. Get Pre-approved for a Mortgage
When you’re ready to start shopping for your new home, the first step is to get pre-approved for a mortgage. It will give you a clear idea of how much you can afford to spend and whelp you narrow your search to homes that fit your budget.
For even more peace of mind, work with a mortgage broker who can shop around for the best rate and terms on your behalf.
When you’re ready to make an offer, be sure to have your ducks in a row in terms of getting a loan pre-approval and having any necessary inspections done upfront.
2. Make a Wish List for Your New Home
Start by listing your must-haves, like a specific number of bedrooms and bathrooms. Then, get more specific by adding things like hardwood floors and certain types of appliances.
Don’t forget the things that are important to you, like a big backyard or a short commute to work. You also need to make sure your wish list is realistic by looking at homes in your budget and your desired location.
3. Find the Right Real Estate Agent
As you embark on your house hunting journey, there are vital things to remember from the pros.
You’ll want to find the right real estate agent. This person will be with you every step of the way, so it’s essential to find someone you trust and feel comfortable with.
You can also check out Propertyiq.com for quick access to detailed property records. This is to help you decide if a home will best fit your needs!
You can also ask for referrals from friends or family, or look for online reviews. Once you have a few potential agents in mind, set up meetings with each of them to better understand who they are and how they operate.
4. Understand the Paperwork
You will need to understand all the paperwork involved. You want to be the last to be caught off guard by unfamiliar documents.
Remember to review everything with your real estate agent beforehand to know what to expect. Pay close attention to deadlines as well. Missed deadlines can cost you dearly in the form of added fees or even the loss of finding the perfect house.
5. Have a Backup Plan
One of the most important things to do when you’re house hunting is to have a backup plan. You never know when you might get outbid on a property or when a sale might fall through, so it’s always good to have a few options.
Start House Hunting Today
House hunting can be a lot of work, but it’s also an exciting time. From knowing what you can afford to what to look for in a home, these tips will help you find the perfect place.
So, start your search today and find your dream home!
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