2022 is here! Is purchasing a new home on your list of resolutions? As you dream about your new kitchen, large backyard,and home office, it’s a good time to get prepared. There are some things you can do to ease the purchasing process, making it less stressful on you, and helping you to get the home you want! Read throug hour checklist below:
Step One: Determine your Budget
Everyone enjoys online home searching to see what’s out there. However, if you are looking at homes outside of your budget, you may set yourself up for disappointment. Ask yourself, what are you comfortable spending on a mortgage payment each month? How much can you provide for your down payment? You will want to factor in recurring costs such as property taxes and homeowners’ insurance. There are costs including with the home purchasing process as well, including closing costs, and home inspections.Your lender can help you identify what you can afford to establish a good budget to stick within. Having a realistic number in mind will guide you towards the right home, without putting an unwanted strain on your wallet.
Step Two: Get Pre-Approved
Once you have a budget in mind, it’s time to get pre-approved. Schedule a conversation with your lender to start the pre-approval process. They will complete your application by running a credit check, and having you answer questions about your income and assets. They will collect a few documents from you such as a pay stub or your w-2. Once your application is completed and approved, your lender will provide you with a pre-approval letter, stating how much you are approved for. Having a pre-approval letter helps you understand what you’re approved to borrow and can help strengthen your offer when purchasing a home.
Step Three: Find the Right Real Estate Agent
Working with a real estate agent takes a lot of pressure off you. Hiring an agentputs an industry expert in your corner that works for your best interest, getting you the best value and ensuring the home buying process goes smoothly. When considering an agent, it’s good to find someone with experience, and that knows the local area. You will work closely together from touring homes to the closing process, so it’s good to find someone you get along well with. Set up a meeting to get to know each other and find the right fit.
Step Four: Make Your Wish List
Working with a real estate agent takes a lot of pressure off you. Hiring an agent puts an industry expert in your corner that works for your best interest, getting you the best value and ensuring the home buying process goes smoothly. When considering a Start thinking about the home you want. Ask yourself questions like:How many rooms does your family need? Do you have a need for a home office? If you have children or pets, do you need a fenced in yard? Think about the side of town you’d like to be on, and what conveniences you would like to be nearby. As you make your list, think about the preferences that best fit your lifestyle. Do you need a single level home, or are multiple levels preferred? Do you entertain a lot, and need a larger kitchen to accommodate hosting guests? Are you willing to make updates to a home, or would you rather buy new construction? Create a realistic list of needs and wants to bring to your real estate agent. This will help them show you the right homes, and they can help you navigate within your budgetn agent, it’s good to find someone with experience, and that knows the local area. You will work closely together from touring homes to the closing process, so it’s good to find someone you get along well with. Set up a meeting to get to know each other and find the right fit.
Step Five: Begin Your House Hunt!
Now, for the part you’ve been waiting for…You can begin searching for your home! Utilize home search websitesto find homes you would like to tour. Your real estate agent will send listing to you of homes that fit your criteria, and get showings set up for you to view. It can take time to find the perfect home, so be patient with the process and happy house hunting!
If you are looking to purchase a new home this year, Coastal Community Real Estate Group would love to guide you through the process. We are committed to professional, courteous,and diligent service. Our trained and licensed agents specialize in the Greater Wilmington area real estate market, and we have devoted to helping you find the right home in a timely manner at the best value. Let’s us help get you into a new home this year! Call us to get started: 855-902-9575
