From searching listings on the web, to financing, to making an offer and closing the deal, buying a home can be a stressful process. With Fresh Life Homes, you’ll get the tools to find your perfect home, along with the support and expertise of a committed professional to handle all the details from start to finish. To get started, check out our resources for buyers below.
Looking to buy a home? Here are five essential tips for making the process as smooth as possible.
Get your finances in order.
Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house.
Find a house you can afford.
As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.
Hire a professional.
While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.
Do your homework.
Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.
Think long term.
Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future.
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.
A home purchase is an important step that can provide many advantages. 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!
Start looking at your options today. You don’t have to know everything. Your Fresh Life Home agent is ready to help you through every step of the process.
When you’re looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, and your agent is your advocate to help you make your dream come true.
A great real estate agent will:
To make the financing process as painless as possible, ask your agent to introduce you to the preferred financing consultant. This professional will work with you and your agent to make sure the financial aspect of your home purchase is stress free.
What will the consultant do for you?
So you’ve met with your trusted advisors, 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. Your Fresh Life Home agent 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.
Some questions you might ask yourself include:
You’ll learn as you look at homes, your priorities will probably adjust along the way.
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. Your agent can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process.
Some things to consider when deciding on the best price point are:
Your agent will provide you with 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.
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:
Congratulations, and welcome home! The home-buying process is complete, which means it’s time for your maintenance plan! It’s now your responsibility, and in your best financial interest, to protect your investment for years to come. Performing routine maintenance on your home’s systems is always more affordable than having to fix big problems later. Be sure to watch for signs of leaks, damage and wear.
And remember, just because the sale is complete, your relationship with your Fresh Life Home agent doesn’t need to end! After you buy, your agent can still help you – providing information on the real estate market, finding contractors and repair services, and even tracking your home’s current value.
Happy home-owning!
Looking to buy a home, but don’t know where to start? Here are some links and resources for information on loans, mortgages, and other buyer-related topics.