The home buying process can be just as exciting as it is stressful. Today’s real estate market can offer many more opportunities, but with that comes more risk. Here is a brief step-by-step guide on buying a home.
1. Define, Research and Plan
It’s very important you educate and prepare yourself for buying a home. Make sure you have a clear goal in what it is you’re looking for and where. Do research on neighborhoods, suburbs, schools and where all of your shopping is located around town. Once you’ve narrowed down what kind of home you and your family needs, you’ll be in a better place to move forward with talking to a mortgage broker and an agent.
2. Real Estate Agent
Buying a home or property is much more complex than a lot of people realize. No two homes or two transactions will be the same which makes it very helpful to have a professional on your side to walk you through it. When choosing an agent a few things to keep in mind are how long they have been in business for, do they have good reviews from previous buyers, how well do they know the area you are interested in, do they communicate well, and are they the kind of person who seems willing to answer a lot of your questions and explain thoroughly.
3. Pre-Approval
We recommend that you get pre-approved for a loan before you start viewing homes with the serious intention of buying. Find a mortgage broker in your area that can help you figure out how much you can be approved for. All you have to do is authorize them to examine your financial situation and credit history. Talking with a mortgage broker is helpful because you’ll know what price range you are eligible for and you will then be able to plan accordingly, you’ll be taken more serious when you decide to put an offer in for a home because you already have your pre-approval letter and they can also see if you qualify for any special programs that can help you afford a better home.
4. View Homes Until You Find THE ONE
The key to the home search process is knowing what you’re looking for which by this step you should have a pretty clear idea. A great place to start viewing homes is BendOregonRealEstate.com or Zillow. Ideally, you should be viewing these homes with a professional who can also send you listings that match your criteria as soon as they come on the market so you see them faster than you would on your own. A real estate agent is great to have especially once you narrow your search down to a few homes or just one, they can notice things you might have missed and provide expert analysis.
