Buying a home is a big decision and there are many factors that go into decided whether to purchase a property. Property type, neighborhood, listing price, condition, taxes, etc. The sheer number of things to take into consideration can be a daunting prospect for anyone. We’re here to help make things a bit easier. Below, we’re provided a guide that covers many of the common questions home buyers will often ask. It also goes over what steps you can expect to go through in the process of purchasing a home as well as some common mistakes that you should avoid. Feel free to peruse the information at your leisure.
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Once you’ve decided that you want to purchase a home, the first step is to find our how much home you can afford.
For most, this means that the first step in the home buying process is to approach a bank to receive a pre-approval for a mortgage. The amount that the bank is willing to pre-approve you for will let you know how much buying power you have. Once you know how much home you can afford, you can focus your search in the right price range, saving you time and energy.
Another reason for getting pre-approved is to serve as verification to both real estate agents and sellers of both your ability to purchase any properties that you inquire about as well as the seriousness of your intent to purchase a property. The real estate market is very competitive right now, inundating real estate agents and homeowners with inquiries of varying degrees of seriousness.
Having that piece of paper informing them that you have gone through the process to get yourself pre-approved helps you stand out above the bunch, encouraging sellers to take you seriously as a person looking to make a purchase.
As part of our mission to provide a comprehensive real estate experience to all of our clients, Elite Connect Real Estate maintains a close relationship with our preferred lender, Contour Mortgage, who can get you pre-approved quickly and for no cost.
If you would like to know more about the pre-approval process, please feel free to contact us for more information and we would be more than happy to provide guidance.
Now that you know how much buying power you have available to you, it’s time to decide what kind of home to purchase.
There are a multitude of factors that will ultimately determine which home you choose to purchase—far more than any simple guide can cover. While every home is a unique opportunity, below is a list of some general property categories along with their respective characteristics that will help empower you as a consumer.
Submit an offer.