Find the Right Agent
A buyer’s agent is on your side and will guide you through the process. He or she makes your financial and personal interests a top priority. Your real estate agent will listen and respond to your questions and concerns. Interview multiple agents and choose the one who you feel most comfortable with.
When Buying a Home, List Your Needs and Wants
When you begin your search, think about features that will be a lasting investment. If you’re buying a home with a partner or spouse, make sure you are on the same page about your priorities. Discuss things such as land size, commute to work, garage space, number of desired bedrooms, and other factors that will meet your long-term needs.
Get Pre-Approved Before You Begin the Search
When you get pre-approved for a mortgage, a lender confirms that you are qualified to borrow up to a certain amount. Pre-approval gives the seller confidence that you are in a good financial position to go through with the sale, giving you an edge over competitors. Plus, pre-approval will verify the amount of money your lender will offer. Typically, the closing process may take a month or more, but pre-approval can expedite the process.
Budget Your Mortgage Payment
Buying a home is expensive and it’s important to understand that the mortgage won’t be your only expense. You might qualify for a hefty loan but plan your budget taking into account current and future expenses. Additional expenses may include childcare, a longer commute, student loans, and car payments. Plan for home maintenance costs, like landscaping expenses, to keep your new property in great condition.
Make a Fair Offer When Buying a Home
Your pre-approval will come into play when making an offer. Before you submit an offer on a house, know your financial limit and what the house is worth. Work with your agent to look at the amount of time a listing has been on the market and how much comparable homes in the area have sold for. This information will help you make a reasonable offer. If you bid too low, a seller may think you are not serious and reject your offer to go with another buyer.
Be Patient
If the deal falls through, it’s helpful to know there are always new houses coming on the market. Have your agent give you a tour of the home you are interested in as soon as possible. Follow housing market apps to learn about new listings. Your Realtor may also alert you to homes for sale before they are publicly listed online.
Home Inspections are Key When Buying a Home
A good home inspection will educate you on your new investment. Be sure the inspector is reputable. Check reviews from recent clients and ask your agent for a list of recommended home inspectors they’ve worked with. A good home inspector will perform a thorough assessment of every area of the home so you can understand the condition of the property.
Northern Florida Home Inspections offers inspections to customers in the northern Florida area, from Gainesville to Jacksonville to Tallahassee. Contact us to request our services.