7 step guide to finding your new home
A simple checklist for finding your new home
Here are 7 steps to point you in the right direction as you search for a new home.
#1 – Research before you look.
Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month on housing.
#2 – Be realistic.
It’s ok to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluating each property.
#3 – Get your finances in order.
Review your financing & lending options with your mortgage contact and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
#4 – Determine your moving timeline.
When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
#5 – Think long-term.
Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.
#6 – Insist on a home inspection.
A home inspection is a critical step to the home-buying process. If possible, get a warranty from the seller to cover defects for one year.
#7 – Get help from a Realtor®.
Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative works only for you. Buyer’s reps are usually paid out of the seller’s commission payment.