Many pose the same question. How do I buy a home???
We look on Zillow or browse different real estate websites looking at homes just dreaming about being a homeowner, not ever really knowing if we could afford it or even where to start. This is when we do a google search of “How to buy a home” and we come up with lots of information that is actually kind of overwhelming.
So, the reason you’re here reading this article today is because you’re truly interested in wanting to know how to start your journey on home ownership and I am excited for you!
Let’s dive into some basics that I think would help benefit you on your first steps.
Have you rented a home? – Many lenders love seeing your responsibility of being a renter. Plus this helps you get a little more grounded in knowing what you want in a home. Unfortunately in renting you’re paying money to sit in someone else’s pocket while you gain no equity or a sense of ownership. Time to step away.
Have you spoke with a lender? – This may be intimidating, you may be wondering things like I wonder if my credit is good enough or how much information are they going to go through on my accounts, are they going to see the underwear I bought last week? All of these are valid questions but let me guarantee you this is where the fun begins. Typically your first meeting with a lender will be a discovery meeting to review where you’re at and see how they can get you on the right track to get you in a home as fast as possible.
Have you spoke to a real estate agent? – This is probably the second most important thing, right after having some money to spend on a home. You need an agent that understands you and what you need. Someone that knows the home buying process that can negotiate on your behalf to do their due diligence in providing you with the best service and expertise. They should be giving you an experience, so don’t settle and it’s okay to interview a couple of agents to find someone you feel confident in.
Start looking at homes– After you’ve got funds in place and established an agent to represent you through the process it’s time to start looking at a few homes. You typically should be able to look at 3-5 homes and settle on making an offer on a home.
Making an offer– This is the exciting part, your very first step towards a future of memories and adventures in your new home. Your agent will sit down with you and go over all the details in making a successful offer with the ability to protect you through the process. Now the seller will do one of a few things A. Accept your offer B. Make a counteroffer C. Reject your offer.
Inspection- Time to get the magnifying glass out! The inspection process is where a home inspector goes through the house with a fine tooth comb to point out any major repairs or minor flaws that should be addressed.
Closing- Congratulations! You’ve made it to the final finish line. House keys in hand and the beginning of a homeowners future. Get ready to paint, decorate or just get that bed in and take a nap. Do what you want, it’s your home after all!
We’re glad to go over a more in depth process and help you take your first steps. Reach out to us, we can get you in touch with great lenders and assign you an agent that we find as a best fit for you through our agent fit process.
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