You are ready to purchase a home. Where should you start? Let’s talk about the ABC’s of home buying!
The ABC’s of Home Buying
Let’s talk about the ABC’s of buying a home. I will address some of the basic steps you need to take before beginning the home buying process. Many first time buyers begin their journey by scouring the internet for homes, condos, and townhomes to whet their appetite and find out if they are actually ready to pull the trigger.
Before getting your heart set on a home that you have found on the internet, you should actually talk with a mortgage banker first. Seasoned home buyers realize that even if you think you will qualify for a home mortgage, there are other factors they might come into play. This is especially true if you must sell a home first, before buying a new home. Will you need a bridge loan to buy the new home? Do you need to short term rent to close on the new purchase? You can even do a simulation closing to get an idea of what you actually need. These are just some of the factors to take into consideration.
Find a Reputable Realtor
After meeting with a mortgage professional and getting approval to purchase a home, it is now time to engage the services of a realtor. Thanks to the internet and apps, many prospective home buyers think they can search and find homes without professional assistance. However, this is neither wise nor advisable. You will end up missing out on great homes if you go it alone. There are homes that only realtors have access too, especially when it comes to highly sought after gated communities. If it is fees you are worried about, it is important to realize that the fees of a buyer agent are paid by the seller. This makes the use of a realtor the most convenient way of purchasing your next home.
The bottom line is that looking at homes first and then trying to obtain approval from a mortgage banker can end up in disappointment more times than not. Follow these ABC’s of home buying for an enjoyable home buying experience. This is Gitta, with Gitta Sells and Associates here to help you with all of your home buying needs! Until next time, happy home buying!