Buying a home is a large purchase and can be a little scary for most buyers starting out. Let’s face it this is the largest item that you have ever thought to purchase and if you buy it (close on the house) and decide you really don’t like it a week later, you can’t take it back. So here are some things to think about before you commit to buying a home.
1. Get preapproved to see what you can afford. If the lender tells you that you can afford a certain amount and you have not been paying any where near that in rent or do not feel comfortable paying that amount in a house payment, discuss that with your lender. The lender should be able to tell you what price range to look at based upon the amount you want to spend each month including taxes and insurance.
2. Find a realtor that you feel comfortable with. I think it is best to find a full time realtor, one that does not have another job. Someone who knows the area of town you want to buy in. Ask questions of the realtor you are thinking of hiring. What is your average price range that you sell? How many homes did you sell last year? Do you work with down payment assistance programs and what is available for me, if any? What hours do you work? Do you take a certain day off each week? Remember, any realtor can assist you in buying any house on the market regardless of whose sign is in the front yard, so find a realtor to help you personally.
3. Determine the location you want to live in. Is it close to family, friends, or work? What is the crime rate? Is the area improving or deteriorating?
4. Realistically decide on the number of bedrooms and bathrooms as well as other amenities. Remember everything is priced for a reason-location and or condition. Determine if you are willing to fix or can some things that may be required. Verify if your loan will allow you to buy certain properties that may require improvements.
5. Have your realtor set you up a search based upon your criteria. Review the search results, drive pass the properties to determine if you are still interested. Remember you can change what is on the inside of the house, you can’t change your neighbors house. So stand on the front porch and look out.
6. Call your realtor with the properties you wish to view and take a tour. And ask questions. You haven’t done this before, but your realtor has and should be able to answer your questions, or get the answers for you.
I love helping first time home buyers. If I can be of assistance, please feel free to call me at 405-213-2992 or visit my website at http://www.sandiwalker.com