So you wanna buy a house? Well then, here are some things to consider, work on or merely make note of.
1) Be picky, but don’t be unrealistic. The perfect home is hard to find. Weigh the things that are most important to you and your family and use that as a guide in determining whether to buy a certain house.
2) Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
3) Get your finances in order. Review your credit report and be sure you have enough money to cover any down payment, good faith deposits, and closing costs.
4) Don’t wait to get a loan. Talk to a lender and get pre-approved for a mortgage before you start looking. Click here to see the difference between pre-qualified and pre-approved.
5) Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
6) Decide when you could realistically move. When is your lease up? Are you allowed to sublet? When will your children be out of school? These are all factors to consider when thinking about buying.
7) Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
8) Don’t let yourself be “house poor”. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals. Remember, you are not renting any longer. When the sink backs up you cannot call your landlord, you will need to call and PAY a plumber to fix it.
9) Don’t be naïve. Insist on a home inspection and, if possible, get a home warranty to cover defects within one year.
10) Don’t’ do this alone. Get help. Consider hiring a Picasso Properties Realtor as your buyer’s representative. Unlike a listing agent, whose first duty is to the seller, as a buyer’s representative we are working for you to find you the home that you are looking for.