There’s always so much that you must consider when buying your first home! At Movementum Realty, we have been working with buyers just like you in order help our clients become – homeowners!
As such, we’d like to share with you some strategies to keep in mind when you’re ready to buy!
Get Pre-Approved for Your Home Loan. This is the first step in the process! We’ll need this pre-approval letter in order to make an offer for the property that you would like to purchase! It is also much better than a pre-qualification, because it signals that a lender has already looked at your financial information and decided how much they think you can afford. A pre-approval letter will save you time and energy, so that you’re not running around trying to get pre-approved last minute if the property already has multiple offers on the table.
Don’t obsess about timing the market. Many home buyers worry about the timing of the market, but you can feel confident that you’re close to historically low prices. Instead of focusing on timing the market, concentrate on buying the best house possible for you and enjoy the search. Sellers will put their homes on the market at different times, based on what works for them. So, you might be able to get a really good deal if you’re searching in the off season too. This might be the best time to buy, because there’s not as many buyers to compete against you!
Buying a Home Can be a Long Term Investment. This means that you want to be practical about which house you ultimately decide to purchase. Purchasing a home can be an emotional process, but the more you can think logically about whether a home is the right fit for you, the happier you’ll be with your decision to invest in real estate!
Make Sure To Inspect Your New Home Thoroughly. After you found the one and have an accepted offer, you need to ensure that the home’s condition is in good shape. We highly recommend that you hire a home inspector to learn about the condition of the entire property. Don’t rely on what you can see from the outside, a reliable home inspector will make sure to check the areas that might not appear as obvious when you’re doing a walk-through.
Get to Know the Neighborhood Before the Final Closing. It’s always a good idea to drive around your future neighborhood at different days and times. After all, you can always change the features of the house, but you cannot change the location. You want to make sure you feel at home, so drive around the neighborhood to get a sense of the community and the best spots around that you might want to visit!
Home Bidding Wars. Home bidding can be tricky, because if you low ball an offer, there’s a high possibility that you can get turned down immediately. The opposite happens when you offer too much money upfront. Then you’re missing out on the opportunity to turn a profit when you sell the home down the road and you can face a larger monthly mortgage payment.
Remember, You’re Not Alone! For More Valuable Home Buying Assistance, Contact Us Anytime!
At Movementum Realty, we can help you navigate this challenging and stressful part of the home buying process, so that you can have a better experience. We’d be happy to assist you by answering any questions you might have as well as providing you with available resources!