3 Tips For Reducing Stress During The Home-Buying Process
Posted on: 25 January 2016
Buying a home can be nerve-wracking. After all, it is one of the largest investments you will ever make in your lifetime. So if you can reduce some of that stress, you will definitely want to. Luckily, there are a few things that you can do to keep your nerves under control, including these three tips:
1. Know What You're Looking for.
Although it would be great if your real estate agent was a psychic and could literally read your mind to know exactly what it is that you want, this just simply isn't the way things work. So before you even talk to realtor, you need to know what you need and want. There's more to this than just saying that you want a three bedroom, two bathroom home, as you also need to consider the following:
- Single-family, condominium or townhouse?
- Brick, siding or other exterior?
- One, two or three stories?
- Historic or modern?
- Open floor plan?
- City or country?
- Non-negotiables?
By knowing what you want early on, your agent will have a better opportunity at finding a home that fits your family's needs. Just keep in mind that you will need to be flexible because the "perfect home" is hard to find if it even truly exists. So just be reasonable and determine the most important things to your family.
2. Get Pre-Approved for a Mortgage Loan.
The last thing you want when you find that perfect home is to find out that the mortgage is way out of your budget. Before you go to a real estate agent, get pre-qualified for a home loan so that you know what you can and cannot afford. This will not only save you money and time, but it will save your realtor time as well. By getting pre-approved, you will know the exact amount for which you can afford and your real estate agent can use this to find properties within your budget. Plus, there are some agents and home sellers who will not work with you unless a mortgage lender has pre-approved you already.
3. Don't Overlook Other Expenses.
When it comes to buying a house, the price of the home itself is not the only thing you must consider. For one, you need to realize that you have closing costs, potential repairs, real estate taxes, etc. In some cases, closing costs can be included in your mortgage loan, which means you will need to budget accordingly when you go searching for a home to purchase. Even so, you still have to have a cash down payment as well as cash available for potential expenses for credit checks, appraisal, home inspection, etc.
When you're ready to start looking for a home, or need some guidance on what steps to take before starting your search, consult with a professional real estate agent in your area.
Click here for more information or do an online search.
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