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Home Buying Basics

Whether you are buying your first home or upgrading/downsizing to a new one, there’s a lot that goes into home buying. Here are some basics to consider when purchasing a new home.

Get preapproved
Before you even start looking for a new home, you need to know how much you are approved to spend by your lender. Even with your preapproval amount, you’ll want to determine your top dollar based on your personal budget and the amount you are willing to spend on living expenses.

Select a realtor
While you can use the seller’s agent to purchase a home, your own realtor will function in your best interest rather than the seller’s. They also have the resources to help you find the home that meets all of your needs.

Begin a search
Make a list of your “must-haves” and your “like-to-haves.” Of course you want the house to fulfill every item on your check list, but by determining what the most important items are, you will be able to select a home much more easily.

Make an offer
There are so many factors to consider when making an offer, and that’s where a realtor’s expertise comes into play. You don’t want to risk losing the house because a higher offer came through, but you also don’t want to pay too much.

Posted: 6/13/2012 with 0 comments

Categories: Homeownership

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