Stages of Home Purchasing

Blog Post Image
Real Estate

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:
  • 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!