Below are basic steps in the home purchasing process. Whether you’ve spent years saving and preparing to buy a home, are unsure if you can afford to make the leap into homeownership, or perhaps you are seeking an investment opportunity, I can help. Let me help you find the home you always wanted.

  1. Hire a Real Estate professional: The first step is to select a professional to help you find your dream home and fine-tune your financial expectations. Working with a buyer agent is worth consideration since they represent the buyer’s interest in a real estate transaction. I would guide you through every step to buying a home.
  2. Shop for mortgage rates and terms: There are varies programs and many different types of loans. Determine the type of loan you are most comfortable in using; whether it’s fixed or adjustable rate. A difference of even half a percentage point can mean a huge savings over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that’s $12,600.
  3. Pre-qualify for a loan: Your third step should be to get pre-qualified, which determines how much you can afford. It allows you and the Real Estate agent to shop for a home within your price range so you don’t waste time looking at houses. This way you move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and really can afford to buy the property.
  4. Define what you want: The next step is to create a realistic idea of the property you’d like to buy. What features are most important to you? Make two lists: one of the items you can’t live without and one of the features you would enjoy. Refine the lists as you house hunt. It is also helpful to search on-line to see what is currently available on the market or fill out the questionnaire.
  5. Visit properties: Now you’re ready to visit houses. Ask your Real Estate Associate to arrange showings, and keep track of the properties you’ve seen. You should only arrange to preview 5 homes in a day.
  6. Know the features that help or hurt resale: In some areas, a swimming pool actually detracts from a home’s value and makes it harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value.
  7. Rate the houses you tour: After touring each home, write down what you liked and didn’t like. Develop a rating system that will help narrow the field down. For example, pick three homes you like best and list the reasons why.
  8. Make an offer:
    Once you’ve pinpointed your dream house, it’s time to get serious about the financial and contractual side of the purchase. Know how much you can put down as a deposit, know the how much you are pre-approved for, and how much you will need for the closing cost.
  9. Arrange for a home inspection: Once the offer has been accepted by both parties, then it’s time to arrange for the home inspections. It’s common to order a basic home inspection, a pool inspection, mold/air quality test, termite inspection, water quality test and a radon test. I can help find a reputable inspector for all these different types of test, and will negotiate to get you the most for your money.
  10. Get Insurance: You will need to shop around for the best home insurance plans. Let the insurance company know when the policy should be activated buy sending them a copy of your contract.
  11. Home Warranty: You might consider ordering a home warranty for your new house. It covers the appliances (basically acts like an insurance policy) in case they should fail to work.
  12. Walk through: This is usually scheduled the day before the closing. It is to insure that the house is cleaned and ready for your occupancy. You also should make sure that all the repairs that failed inspection were done. You could also have the inspector come back and retest again.
  13. Close: Before your closing date, make sure you’ve made all necessary deposits and completed the paperwork – including mortgage, title, homeowners insurance and any other paperwork required by local or state governments. You will need two form to bring two forms of ID with you. I.E.: A driver’s license, passport, social security card or a credit card with your photo on it.
  14. Prepare for life in your new home: Before rolling out the welcome mat, consider some moving basics. You will also need to arranging for an alarm company, turning on electricity, water and gas, cleaning, painting or replacing the carpet and notifying your local post office of your new address.