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Buying a home is one of the biggest purchases you’ll probably make in your lifetime. Whenever people make big decisions, they usually seek advice from those they trust. The same should go for buying a home. It’s important to have a team of people who are experts in their areas to help you make the wisest decisions with your money. Plus, the process will go smoother when you’ve got the right people on your team.
Your teammates should include a Real Estate Agent, a reputable lender, a professional and trustworthy inspector, and a home insurance provider. When searching for a Realtor, ask people you trust for recommendations and check online reviews. You can also conduct interviews to select the Realtor that can best meet your needs. As a teammate, your Realtor will help you search within your preferences, educate you on market conditions, assist you in preparing and submitting forms when making an offer, help you negotiate a price, and more.
Next on the roster is a reputable lender. A trusted lender can help you get preapproved for a mortgage before you even begin shopping for your home. Remember that selecting a mortgage lender is about more than getting the lowest rate. Gather various rate quotes, and follow up with interviews and questions. Your lender should be able to discuss your mortgage payments with you in context with the rest of your financial plan.
Next up is a trustworthy inspector. Home inspections are crucial. While the house you’re interested in may look beautiful, it could be hiding some serious issues. A good home inspection will help you find potential issues. Do some research and ask questions about the inspector’s professional organizations, their experience, and their reporting style.
It’s time to add your final teammate – your home insurance provider. Proof of insurance coverage is required before your loan can close. It can be difficult to shop for homeowners insurance when there are so many local and national options. The easiest way to find competitive rates is to obtain free online homeowners insurance quotes from a variety of companies.
If you would like additional tips and resources during your home buying process, FORUM offers a free mortgage resource center. Click here to check it out. You can also call FORUM Mortgage at 317.558.6160 if you have home loan questions.
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©2017 FORUM Credit Union