For most, buying a home is likely not an impulse purchase. It is a process which, from the browsing of houses to the signing of paperwork can take a long time. Therefore, it is crucial to understand the process of home ownership before you dive in. We’re providing a comprehensive checklist for those who may be beginning the process of buying a home, or those who are interested.
- Find A Team: A great loan officer and realtor make a big difference as they are incredibly knowledgeable on the process.
- Know Your Finances: This means knowing your current credit score and how much you can afford to pay monthly in payments in addition to how big of a down payment you can make. If you do not have a solid grasp on these things, reach out to your loan officer. Lastly, do not to make any big purchases during the process as this will impact your credit.
- Secure Pre-Approval: Buyers with pre-approval are taken much more seriously than those without. If you ever find yourself in competition for a home, pre-approval will work in your favor.
- Conduct Research: Know the area that you want to live in so that you can filter through homes. Also, know how much homes in that area have sold for so that you are not overpaying.
- Trust Your Team: Always talk to your loan officer and realtor if you are unsure of something. These people will be able to get you the best deal, so put your faith in them.
The financial benefits and pride of owning a home make the whole process worth it, so good luck and happy hunting!