Tips for buying a home
The home buying process is not an easy one. There are many things you need to be aware of before buying real estate. Here is a simple home buying checklist that you should follow to make the process easier:
- Learn your homebuyer’s rights!
- Figure out how much mortgage you can afford.
- Decide what you can afford to spend.
- Make your wish list.
- Learn how to set a value on a house.
- Start searching for a broker.
- Begin house-hunting.
- Hire a home inspector.
- Write an offer and negotiate your best deal.
- Arrange for closing agent or attorney.
- Make moving plans.
Home buying mistakes to avoid:
- Waiting and waiting: There is no “perfect time” to buy — except when you can. Don’t wait indefinitely. There are several important factors other than the house’s price to consider — namely the current interest rates, market trends, your needs and more.
- Be a smart buyer: So you’ve found the house of your dreams. Great! But try to keep your jaw off the floor when viewing it. Going ga-ga over a home right in front of the sellers or their agent might cause them to consider holding out for a higher price. Play it cool.
- Buying the wrong size: Families grow. Even if you’re single this year, this may not be the case within a year or two. Consider something slightly — but not extravagantly — larger than your current needs.
- Not getting it in writing: We’ve all heard this again and again, so why ignore it? If the seller promises to replace the home’s aging shingles, get it on paper — signed!
- Excessively low-balling your offer: All of us love bargains. But if the sellers’ market is doing well and you’re offering 10% below the asking price, don’t be surprised if you lose the home. See what nearby houses are going for and bid accordingly.