Five Important Steps When Buying Your Next Home
- Determine How Much You Can Afford to Spend
Looking at homes can be a lot of fun. Searching real estate websites, going to open houses, dreaming about the house you and your family will call home.
But before you take the first real step toward home ownership, you need to consider some tough questions. Do you have an emergency fund? Have you saved for a down payment of 20 percent? Do you need to get your credit in better shape? Hiring a real estate agent isn’t just about finding someone to help you purchase a new home. It’s about having an experienced professional, like Loretta Moehle, REALTOR®, to help you navigate the many costs associated with home ownership, such as home and lawn maintenance, monthly utilities, home owner association dues, taxes, etc. Loretta can also help you evaluate your situation and determine realistically, how much you can afford to spend on the single biggest investment most people will make in their lifetime.
- Make a Checklist
Once you decide how much you can afford to spend on your home, it’s time to make a list. Buying a home is often an emotional process. So before you start, make a list of “must-haves” and “nice-to-haves.” Print the list or save it on your mobile phone, and take it with you each time you look at a new house. That way, if you fall in love with a house that is missing several items on your “must-have” list, you will at least be reminded to stop and think about it.
- Find a Lender and Get Pre-Qualified
Getting pre-qualified (or pre-approved) for a home loan is an important first step. This process involves finding a lender and authorizing them to examine your credit history and current financial situation to determine how much you will be able to borrow to finance your next home. Getting pre-approved in the early stages of your home search will pave the way to a smooth transaction down the road – when you find the home of your dreams. Loretta Moehle, REALTOR® can guide you in finding the right mortgage lender with the best financial options available.
- Negotiate the Best Deal
You’ve finally found the perfect home, and you are ready to make an offer. Let the negotiations begin! The best way to assure you will get the lowest price possible for your new home is by having a trusted REALTOR® negotiate on your behalf. Loretta Moehle, REALTOR® has the market knowledge and experience you can count on to make the best deal possible on your behalf.
- Understand the Contract Before You Sign
Once Loretta has negotiated the best deal for you, it’s time to sign all of those multi-page contracts. This is where having an experienced real estate professional is essential – someone to carefully review every clause and paragraph of each contract and help you fully understand the details before signing.