Are you ready to start your new home search? Great! Buying a home takes more time and research than buying a new phone or tablet. Here’s some tips on how to begin. As soon as you can, start reading websites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas. Every home buyer’s journey happens on a slightly different timeline, but there are some steps every prospective buyer should take.
Search and Discover
Look at homes in your favorite neighborhoods, and review statistics and reports on home values. Use this time to dream about some of your favorite home features, and start to put together your list of of priorities. While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come. Most buyers will find a property during this phase that prompts them to move to the next stage.
Determine How Much House You Can Afford
Do the math and your required homework. Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt. Find out the types of loans available and how what you can afford will affect your home search. Get your credit report and understand your financial situation. Then, you can get pre-approved. Most would-be home buyers need a mortgage to purchase a home. While the process has gotten easier as we’ve moved farther away from the financial and lending crisis, it can still be challenging if you’re not prepared.
Find the Right Real Estate Agent
Real estate agents are important partners when you’re buying or selling a home. Real estate agents can provide you with helpful information on homes and neighborhoods that aren’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live can be extremely valuable. And best of all, it doesn’t cost you anything to use an agent – they’re compensated from the commission paid by the seller of the house. Have fun along the way, go to open houses, make appointments and see as many homes as possible. Feel confident before making an offer and know the market inside and out. It is okay if you miss out on a deal or two before you find your dream home. Buying a home is a special event, it is where your life will happen. That is why you did all the research, hired your Real estate agent, and did not move too quickly. Congratulations!!!
Tom Reese has 20+ years experience in helping his clients sell their homes for a price that sells and makes them a profit. Tom has helped his clients buy and sell property in every neighborhood in Northern Kentucky and Cincinnati.
About Tom Reese
Helping my clients attain their dreams has been the foundation of my success. With my strong attention to customer service, I have earned my clients continued support and referrals. Put my enthusiasm and dedication to work for you!
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Tom may be new to rapping but he’s not new to real estate!