Buying your first home is one of the most exciting, yet often terrifying things you could ever go through. No matter what your experience is in buying a home, it is better to be prepared and understand the basic steps.
Here are 5 steps to purchasing your first home.
Get the Pre-Approval
Potential home buyers must be pre-approved before starting their search for a home. This is also what sellers are looking for when it comes to negotiating the price of your purchase. Getting approved will show that you are financially qualified and ready to buy a home. This step will also determine whether or not you are able to afford the purchase.
Get A Realtor
Finding a realtor that will help you find the home you’ve been searching for. They will have the better understanding and knowledge of what to look for and find the home you want, where you want, and your budget.
Start the Big Search & Make the Offer
Once your realtor has narrowed down the list of your needs, they will provide options that will depend on what you want. Once you make a decision on the house, your realtor will analyze the property value to bid at.
Take the time to determine how much you will pay on the given value. Be sure to stay realistic on what you want and can afford. During this time, the seller will determine whether to take your offer, reject the offer entirely or counteroffer.
Get a Walk-Through Inspection
Once your offer has been approving, now’s the time to inspect the property to determine that value of the home. Your agent will handle this step and prepare the agreements that will allow you to follow a pre-closing check to find any major problems within the home.
Close the Deal and Move Into Your Home!
Once you’ve gone through all the steps, you can sign the mortgage and present the down payment for the home. Now is the time to prepare your move and enjoy your new home.
Follow these 5 steps to set your first home purchase on the right path.