What are the steps to purchase a home?
1 - Make the decision to purchase
The decision to purchase your first home is one of the biggest and best choices you could ever make. After all, a home is the largest - and most emotional - investment most people will face in their lifetime. So, how do you know if it's the right time for you to buy? There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances. Purchasing your own home is a great investment that can deliver several financial benefits - equity build up, value appreciation, automatic savings plan - not to mention a new sense of pride!
2- Hiring a real estate agent
As your agent, my goal is to put YOU first. This is your dream, and my goal is to help you make your dream come true. As your agent, I will make sure to educate you about the current conditions of the market. Analyze what you want and what you need in your next home. Co-ordinate the work of other needed professionals throughout the process. Guide you to homes that fit your criteria and budget. Negotiate on your behalf to get you the best deal possible. Check and double-check paperwork and deadlines. Inform and discuss with you, and suggest solutions to solve any problems that may arise
3 - Getting Pre-approved by a lender
To make the financing process as painless as possible, as your agent, I will introduce you to my preferred lender. This professional will work with you to make sure the financial aspect of your home purchase is stress free.What will the consultant do for you?They will review your current financials. Discuss the options available to you during the home purchasing process. Guide you to an appropriate price point and keep you informed and updated of the entire financial process throughout your purchase..
4 - Home Search (the fun begins)
So you've met with your lender, you are pre-approved, and now you're ready to begin your search. But how or where do you start? There are a lot of homes out there, and diving in without a guide can become overwhelming and confusing. As your agent I will help you more accurately pinpoint homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible. You'll learn that as you look at homes, your priorities will probably adjust along the way.
5 - You’ve found the one (The offer)
Once you've found a home you love, the next step is deciding on a price. It's important to remember that a home is an investment. I will provide you with information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. First, we will look at the listing price point that the home is listed at. This will give you a base price when looking at the home's value. Next we will do a market Analysis -- This will give you an idea of comparable home values in the neighborhood to help you decide if the price point is accurate. Last but not least, we will look at improvements to determine it's market value.
6 -The home inspection (Oh Boy)
Once an inspection has been done, we will review the report to see the improvements and challenges within your home. This way you'll know what you are getting into before you complete the purchase. Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction. Very often a problem appears to be big, but can be fixed with very little effort and not a huge budget.
7 - Closing (You did it!)
Once you've determined a price point you're comfortable with, you're in the "home" stretch! But, in order to ensure that you don't put the property purchase at risk, you have a couple responsibilities that you'll need to keep in mind. Staying in control of your credit and finances - Do not make any large purchases during this time. It's important to keep your financials steady throughout the buying process. Keeping in touch with me and financial consultant - It's important to stay in constant communication. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. We are a team and I'm always here to help you!