Home ownership brings not only personal joy and well being, it creates lasting wealth and an investment that over time appreciates in value. With interest rates still historically low, now is a great time to buy your home.
You’ll need a game plan to move forward with buying a home, whether you’re a first time homebuyer or you’ve done it before. Even experienced home buyers will likely find that the market and process has changed since the last time they bought a home.
FIND AN AGENT
This is likely to be the biggest financial investment you’ll ever make. You need a real estate professional by your side that has the training, knowledge and experience to guide you through the maze and around the pitfalls of purchasing a home. Do you know what due diligence means in a contract, and how much a due diligence fee should be? Whether a septic permit matters or how to get a copy of it? What inspector or attorney should you use? What about zoning, covenants, fixtures, oil and gas rights, contingencies?
We do! And we’re here to help. Your Realty One agent has a passion for protecting their clients and serving the clients best interests. In the end this creates a winning partnership that will help guide you from the very first step all the way until closing.
FIND A LENDER
Just as crucial as the Realty One agent you work with, is finding a good lender that will do what they promise and provide the loan on time for closing. The loan process is complicated, involves a lot of paperwork and a lot of deadlines, to close on time and without hiccups or problems along the way can almost be a miracle, but with a good lender its what they do. One of the first steps you’ll want to take is to get pre-approved for a loan.
A good pre-approval means that the lender has checked your credit, has an understanding of your income and your debts, and can pre-approve you to purchase up to a certain dollar amount. Knowing your “buying power” will help guide you and your Realty One agent in the home search. A good lender does enough homework in advance with asking you questions and understanding your financial picture so that future problems in the loan are avoided.
There’s nothing more frustrating than a week-long delay in closing because of a loan issue when you’ve got the moving truck lined up and the days off work to make your move. And there’s nothing more heartbreaking than the purchase itself falling through due to a loan issue that could have been discovered up front. Please talk to your Realty One agent so that they can give you recommendations for lenders we’ve learned to trust and who have delivered for us and for our clients in the past.
FIND A HOME
With a Realty One agent by your side and a lender waiting in the wings, you’re ready to find your new home! With an understanding of your buying power from your lender, next step is to create a list of your needs and wants in a home. Remember that buying a home always includes some compromise. There is no perfect home – every home buyer in the ends recognizes this and makes some concessions along the way.
What you should create is a list of your “must-haves” and a list of your “wants”. Then your Realty One agent can help you find homes that meet your must-haves and check off as many of the wants as possible too. This is where the fun begins – its time to go shopping! Your Realty One agent will help locate the homes, schedule showings on the homes, research the homes and area, and write up an offer when you find the home you love.
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Need help narrowing down your options? That’s what we’re here for! Provide your Realty One agent with your list of home wants and needs and you’ll be touring your dream home in no time!
Under contract and not sure where to start with moving?