Sometimes when we do something everyday we forget to realize that what is easy and customary to us is complex and foreign to someone else. Three times this week I had someone say I want to buy a home and I don't know where to start. Here are a few easy steps to get you on your way towards home ownership.
Save for a down payment.
In order to purchase a home, you will need to have cash for a down payment.
Unfortunately obligations and debts may make it difficult to save up money. This is why one of the first steps to buying a home is to save for the down payment. Open a savings account and start socking away money in it. You will be suprised at just how quickly it will build up if you are dilegent about putting money in the savings and then forgetting about it.
Decide on a location
Figure out where you want to live. Often people choose a location-based off of factors such as family and work. Get at least a general idea of where you would like to own a home. Do you want to live in a city or out in the country. Do you want to move to a new state or just upgrade in the neighborhood you have come to know and love. No matter where it is figure out what places will feel like home.
Find out how much you qualify for.
Find a mortage lender and let them run the numbers. The lender will be able to tell you how much of a home you can afford and the best loan options for you. Once you have the preapproval letter in hand you can start looking for homes.
Find a good Realtor
In the maze of forms, financing, inspections, house hunting, pricing, and negotiating your life line will be your real estate agent. There is rarely a shortage of real estate agents to pick from in any given area. Find one that you like, trust and that has the experience to help guide you through the process from start to finish. Remember your agent will be putting a lot of work in for you, so pick just one agent and let them take care of all your needs.
Start your home search
The vast majority of people today will start their home search online. Keep in mind that while websites like zillow are readily available they also carry a lot of mis information. Rely on your real estate agent to send you listings directly from the local mls. Don't be afraid to ask questions, ask for aerial maps, and draw from your agents knowledge and experience. You will find that you will be able to zero in on that perfect new home in no time.
You found your home!!!
You found the perfect home for you now it is time to put in an offer. Your agent will be able to prepare and negotiate the offer advise you on purchase price, terms, and the process that will follow so that you can obtain your dream home.
If you are looking in North Idaho for a home I would love to help you through the entire process.
Rain Silverhawk
208-610-0011
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