Once you a have met with a mortgage broker and have found out what you qualify for, the fun begins!
I recommend sitting down and making a list of what you want in your new home. Put on paper everything you would like and make sure the items are listed in order of importance. Most likely, it will be extremely difficult to find a home that has everything on your list. This is, unless, you have unlimited funds and build a home yourself!
By prioritizing a list of must haves and wants you will find what you can do without. Most often, your ideas of what is most important will differ from your spouse, so make sure to discuss what is important to both of you.
By going through this exercise, you will save yourself time by avoiding homes that do not fit the criteria. This in turn, will spare you from added frustration that, unfortunately, can come with finding a new home. By cutting out the time consuming and unnecessary, looking for a new home can be an exciting adventure.
Another important tip I would suggest, is letting your agent know whether you are okay with a home that might need some work. Relaying to your agent what level of “move-in-ready” you are comfortable with will obviously shrink or expand possible properties.
There are a few other things I would suggest. Your agent will need to know your timeline. For instance, will it allow for something that might take a little longer, like a bank owned home or short sale. Last and obviously critical, your agent will also need to know the areas you are interested in living.
No matter what preparations are made, frustration is a usual emotion when looking for a new home. However, by systematically planning the whole process can be made much more enjoyable. For more of my thoughts, check out my blog on our website: www.parksedgeparkcity.com.
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