The home-buying process is emotional, exciting, and comes with a side of stress for most buyer's looking through the market today. In order to de-stress and handle the process in a time-efficient and productive manner, I have compiled some helpful hints to get you through things smoothly, all the while making a wise decision for your future.
1) Do your homework
It might sound time consuming, and a little more bland than visiting properties in person, BUT it will make a world of a difference if you know the features you can't live without before setting aside the time to visit homes. Often times, you will find that searching through the online inventory you can pick up on what you must-have in a home, versus what you simply would like to have and it surely helps to give a buyer's agent a more specific list as to avoid receiving an overload of properties being sent your way that don't live up to your expectations and standards. Researching homes can also give you a realistic idea of what to expect in your price range. Buyer's commonly want to walk into their dream home, with granite countertops, subway tile backsplash, modern bathrooms, and hardwood flooring, yet when it comes to the price tag on the home it is even more than they could have imagined. It can be a real let down.
If you have kids, know what neighborhoods are safe and up to your standards. You don't want to find out later that the home you love is in a high crime-rate area. Also, school districts may be a priority for you and your family; make sure you know what school system you will be sending your kids to and narrow your search down with this category. You may desire a fenced in back yard, an owner suite, or a 2-car attached garage & wasting your time by immediately going around town with your realtor on a weekend afternoon looking through just about any house that fits your budget. Sites that can help you do your homework thoroughly are: Zillow.com, Trulia.com, Realtor.com.
2) Get Pre-approved
You may budget and know your finances like the back of your hand, but the price range you have in your head may be different than what a lender see's as possible or whether or not the underwriter will approve you for the same amount. Play it safe. You don't want to begin looking in a price range that is higher than what you realistically can afford. If you are ready to buy/look at new homes, I think your first step ought to be talking to a mortgage lender; however, many realtor's may also be helpful as they can recommend specific lenders that they have experience working with who they know will close your deal on time with as little hassle as possible. Plus, if you found your dream home without having a pre-approval, in order to make a solid offer you would want to share with the listing agent that you have been approved for the amount of the house and that it's a serious offer that should be considered; otherwise, most seller's are likely to ignore it and avoid wasting their time with someone who can't take their time to get approved for a mortgage. Don't miss out on the house you've been waiting for just because you didn't look into financing ahead of time!
3) Decide on Location
LOCATION, LOCATION, LOCATION- the most commonly said phrase in real estate today. It's all about where you want to be, would you like to stay within 5mi of your workplace? Do you prefer the countryside and acreage over commute time? Do you want your kids to be able to walk to school? There are many things to consider when you are trying to pin down where you want to end up living, but it is one thing you cannot change in your new home. You can replace the countertops, the flooring, add a garage, or do a kitchen makeover...but, your location is key and stable.
4) Overlook the Superficial designs
Focus on the houses layout and the floorpan when deciding on which house you see your family in. Many buyer's can become preoccupied by the paint on the walls, or the cabinet color, or ugly tile floors that are in the bathroom. Don't get lost in these details. You can change these things with a can of paint, or by putting aside a small amount of money to update the flooring or other features in the house. You may choose to live with a few aesthetic things in the home that aren't exactly pleasing or appealing, but with some time you can afford to make changes you need if it is for the perfect location.
5) Spend some time around the Community
If you are considering a move to a new community, spend some time in the area. Get to know the surroundings. Is it a restaurant scene that you can see yourself/your family enjoying? How about the local events or parks nearby, can you still do what you most enjoy while living in this area? Maybe it is a different crowd than what you are used to or you were looking for a more "family-oriented" or "young and hip" place to live, this should all be considered before you make your decision. Keep in mind this will be your home for ideally the next 5-10 years, if not longer!
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