Buying a house can definitely be one of the hardest processes you and your family have to go through in life. However, we have broken down the process for you into 10 easy to follow steps…
- Are you ready to officially become a homeowner?Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals.
- Hire a realtor.We strongly encourage you to not take on the house hunting process alone. Due to the paperwork, negotiations, inspections, marketing, etc. it’s best to hire a professional; the professional being a local realtor.
- Get a mortgage pre-approval. Most first-time buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the process. Find out how much you can afford before you begin your home search.
- Research available homes.Research available homes.A quick search on the real estate market around your area will assist your realtor tremendously throughout the overall process. Not only does it help your relator, but you can also educate yourself regarding the overall market and what to expect.
- Choose your home. While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come.
- Get funding. The cost of financing your new home is almost always greater than the asking price, due to closing fees, taxes, interest, etc. Obtain as much information as you can from your lender prior to closing so there are few surprises.
- Make an offer.While much attention is paid to the asking price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value, or additional costs, for the buyer.
- Get insurance. Just like a car, or any other major purchase, it’s sensible to have insurance. No homeowner should purchase a home without insurance. Doing research about different insurance companies and policies prior to closing is ideal.
- Closing on your home. The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In practice, closings bring together a variety of parties who are part of the real estate transaction.
- Now, what’s next? You did it! You researched homes, obtained financing, made an offer, and attended closing. The home is officially yours! However, whether you are a first time buyer or an experienced buyer it’s always smart to take a couple more steps post closing.
If you, or someone you know, if looking for a realtor please contact Mountain Oak Properties. We would love to be “Your Resource For All Things Real Estate.”
Contact us at info@mountainoakproperties.com or (828) 318-8801