Steps to a Successful Home Search
Purchasing a new home is an exciting time while you bring fresh energy into your life. The search process can add to the joy while you preview the home options available and try to envision yourself making them work for your wants and needs. While there are lots of decisions to consider in the process, there are also many steps to follow. Here are some ideas to guide you through.
Budget and paperwork
Before doing any official searching, make sure to do the first step and get pre approved for a mortgage. You need to know realistically what your official price range is before you can start looking at properties. A mortgage agent can get you qualified by providing them with some details about your financial position. You will always want to do this upfront so that you don’t miss out on an opportunity for your dream home because you were declined for a loan.
Wants versus needs
When you begin your search, make sure you clearly prioritize your wants and needs. You may feel that you want a particular color scheme for a kitchen, but in reality you may actually just need an updated one rather than having one with white versus dark cabinetry. Things that truly matter should be bed and bath counts or the location. These are harder to change or adjust to.
Neighborhood and trends
Picking the right area is very important. You will want to look in an area that has homes that are in your price range but also is accommodating to your lifestyle. Things like work commute, local services and proximity to things you like to do recreationally are all factors. Next you may want to consider areas that are on the rise for resale. Research local trends and improvements so you can see that the neighborhood is on the right path.
Pricing and strategy
Not all homes are created equal and neither is every area. However, one thing that is a common underlying trend these days is that homes are not remaining on the market for too long. Depending on your price range, some go faster than others. Identifying how quickly properties sell and for what ratio of list to sale price they sell at in your desired area is going to arm you with great knowledge for your offer. Making sure you beat out competition by moving quickly and crafting your offer with the right strategy will help you gain an edge for any competing offers.