Are you looking to purchase a home? Do you have enough saved for a down payment? Have you hired a licensed real estate agent? Do you know what you need and what you can afford in your next home? These are questions you will want to ask yourself. Maybe you’ve decided to take the plunge and buy your first home, or you’re already a homeowner and are ready to move into a new place. Whatever reason prompted the move, here are four things you need to do before buying a home.
Get Preapproved: It’s exciting to start the home buying process, but it’s a good idea to have a preapproval letter in your pocket before you set foot in your dream home. Your preapproval letter will tell you how much you can really afford and make it easier to narrow down your search. Having that preapproval letter will also give you some negotiating power when you start working with sellers – you’ll have a greater chance of having an offer accepted when you have a letter stating that you are in a financial position to buy the home.
Figure Out What You Can Afford: The buyer’s mantra: Get a home that’s financially comfortable. Talk to a lender who can help you through this process. Then get prequalified for your loan.
Define Exactly What You Want: Your home is one of the biggest purchases you will ever make, and you need to have a clear idea of exactly what you are looking for before you begin the search. While you should get preapproved early in the process, don’t wait for the preapproval offer to narrow down the search. You need to determine what the non-negotiables are for your future home and what you are willing to compromise on. Take the time to list what features, floor plans and style of home you are most interested in; what type of neighborhood you want to live in; and other key details. A comprehensive list of wants and must-haves can make it easier to shop for a home and compare different properties during the search.
Finding A Realtor: Now that you know what you can afford and all the financial obligations you’ll be taking on, it’s time to meet with your realtor. We urge our Clients to ask questions and voice their concerns.
Some good questions to ask:
- How long have you been in business? Our Team has been in the Real Estate business for 17 years.
- Have you ever had someone file an ethics complaint against you for any reason? No
- How well do you know my neighborhoods of choice? We focus on the neighborhoods located in Scottsdale. But are familiar with surrounding areas as well.
- What can I expect from you- in terms of my overall experience- if I chose you as my realtor? We pride ourselves in – Disclosure/Honesty•Frequent Communication•Use of current and cutting edge technologies•quality business partners•professionalism•knowledge of the local market/knowledge of rules and regulations•availability•strong negotiator and reputation.
These are just a few things to consider before buying a home. You may want to ask friends or family you know who own their own home for some advice as they may know your specific needs better. You can contact us directly at 480-729-0385. We are available to answer questions and help you with the purchase of your next home.
