The Stages of Home Purchasing:
1. Before you begin you should consider the following:
- Decide whether to purchase or rent. Purchasing a home may not be for you.
- Cost of owning a home - insurance, repairs
- Is your credit score where it needs to be
2. Explore your options
- Visit the Internet and Open Houses
- Visit my website: www.gillettewyhomesearch.com
- Most Buyers use the Internet as the first step of their search - but most buy through an agent.
3. It will help if you are prepared.
- Know what documents you are going to need.
- Compare rates and fees of the different lenders.
- Get pre-qualified - sellers look at pre-qualified buyers offers differently
4. Prioritize what is important to you
- Know what type home you are looking for. Style, number of bedrooms and baths etc.
- Neighborhoods and schools may be important to you.
- Move in ready or do I choose to renovate with my style
5. Time to make an offer - be realistic
- Know what like homes have sold for in the same neighborhood. Don't low-ball and turn the seller cold to your offer
- Know in your mind what that house is worth to you and stick to it. Who knows the seller may counter offer with a price you can live with.
6. Final Step - After the seller agrees to your offer
- Remember the dates stipulated in the contract are important
- Hire a home inspector to let you know about the homes current condition
- Work with the bank or mortgage broker to review your application so that you may furnish the correct documents they need.
- Prior to closing you will receive closing documents to review. Do not be afraid to ask questions. This document will list final monthly payments and closing costs for your loan.
- You will sign numerous papers at closing time
Above all stick to your budget. Don't make your house payment the only thing you can do. Enjoy your home!