After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
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Shopping for a home can be a bit of fun at first—that is until reality sets in and you realize there's more involved than just looking at homes on-line. There are steps that should be taken when buying homes to prepare you and get you into your forever home. Read on for a few steps to take when shopping for your next home.
1. Get Your Credit In Order
Before you do anything, make sure your credit is in good shape. You'd hate to go out looking at homes only to find out you wouldn't qualify for anything. To get your credit in order, be sure your bills are all up to date. You shouldn't be behind on anything at all. You also should be paying what is due, not anything less. If you aren't up to date, or think your credit may be less than favorable, take a few months to get your bills caught up as much as possible.
2. Get Pre-Approved
A pre-approval should be done before you even set foot in a home for sale. You have no idea what you will qualify for, what your limit is going to be and what you can actually afford with your monthly bills and other monthly spending. Getting pre-approved first will give you an idea of what you can afford in order to help you narrow down your search. You'd hate to start looking at homes in the $200K range, only to find out you only qualify somewhere closer to $100K. This is why a pre-approval is so important. Go to your local bank or local mortgage company to get pre-approved for a loan. It doesn't take a lot of time and doesn't usually cost anything. Your realtor will also suggest this, as well.
3. Find A Realtor
Hire a realtor in your area to help you find homes for sale in your price range. This will also help you narrow down your search. Tell the realtor what you are looking for and keep an open mind when being shown homes. Some may not appear too appealing on the exterior, but may be exactly what you want on the inside. Also, keep an open mind on the interior, as well. You may not like the appearance on the inside, but you'd be surprised at what a coat of paint and your own taste can do to a home.
When shopping for a new home, use the steps above to help you find what you are looking for, and to get you approved for the home of your dreams. Talk to your realtor about other helpful information to prepare you for the home-buying process.
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