As summer kicks off, it’s time to start thinking about the next big purchase – a house! Summer is the time for house hunting! If you’re new to the home-buying process, many steps need to be taken before you can make an offer on your dream house.
Image by StartupStockPhotos from Pixabay
The days are warm and carefree, which means you can spend lots of time going from home to home until you find that perfect one. However, there are many things to keep in mind when looking at a house, so make sure to read this blog post before starting your search. This summer, make the most of your time and money when house hunting with these top home-buying tips.
- Choose a realtor:
Find a realtor who you can trust to help you find the perfect home. Ask family, friends, and co-workers for names of realtors that they have worked with before. Call real estate offices in the area you’re interested in buying a house in and ask if they have any agents on staff. Realtors make your job of house hunting easier. If you have a realtor, then all of the work is done for you, and you can focus on looking at houses and making offers instead of finding places to look at. Realtors have complete house spotting tools and resources. A realtor can also give you CMA (Comparative Market Analysis) or tell you how many houses are going for in the area, any foreclosures around, and their selling price.
- Narrow your search:
When starting your search for homes, try and focus on a specific area of town instead of being open to homes anywhere in the city. It will allow you to narrow down which homes are worth considering and also helps with keeping up your budget. Know the area – what are the schools like, how far is it from work, etc.? Research neighborhoods of Northwood Iowa homes and schools in your price range before looking at houses. Getting in touch with the person who lives next door is a great way to find out more about the neighborhood and any potential safety issues that might be present, and things such as traffic noise. Be sure to have a good idea of the type of house and neighborhood you want to live in so that when you find one that meets all of these criteria, you will be ready to make an offer immediately. Check for crime rates in the area before putting in an offer on the house. Although you cannot change the crime level, knowing what is going on in the area could affect your decision to buy.
- Inspect and select:
Don’t buy a new home without first getting an inspection – it’s worth it for peace of mind. If you’re working with a realtor, be sure to use the home inspection they provide because this can tell you about any issues that might need to be addressed and at what cost before closing. Ask your home inspector what they recommend to keep on their list of required repairs or improvements. This way, you’ll have an idea of what things need to be considered before closing the deal on your new house.
- Savings: Make sure you have enough money saved up for closing costs, down payment, and moving expenses. Make a budget of what you’re looking to spend and stick to it! It is crucial because many people fall in love with their “dream house” but buy something they cannot afford.
- Be patient:
Remember that buying a house is one of the most significant investments you’ll ever make, so don’t rush into anything! Give yourself enough time to search for the perfect place; don’t rush the process! One of the most important things to do when house hunting is to take your time. It gives you a chance to look at all of the houses on the market and choose the one that’s right for you. Don’t be discouraged if it takes a while; remember your budget!
- Make an offer:
Be ready to make an offer on your dream house as soon as you find one that’s right for you. Bite the bullet and make an offer! Homes are selling fast in the summer months, so even if you’re not in love with a house today, you might find it sold by tomorrow. Also, consider making an offer contingent on the home inspection so that if any issues come up in the report, you can back out of the sale and get your deposit back. When making an offer on the house, be sure to include your highest and best offer. If there are multiple offers, the seller will typically choose the most beneficial one for them. It means that if you have contingencies written into your contract, like requiring home inspection or appraisal reports to come in first, make sure they are registered so that the seller will accept them. - Extra living costs:
Ask about homeowner’s association fees and maintenance costs before deciding if this is a good fit for you! Make sure you know what it will cost you to maintain your new house, so ask about any extra fees that you might incur after closing the deal. Also, make sure that all taxes are included because this is not always the case. - Loans and savings:
Get pre-approved for a mortgage before you start looking at houses. If you need a mortgage for your new home, be sure to get pre-approved before starting your search. This way, you won’t be wasting time looking at homes beyond your price range. - Research and observe:
Make sure to show up early to an open house so that you can ask questions and get more information about the property. Research before looking at homes, and don’t be afraid to ask questions when looking at a particular property. It’s essential to find out as much about the house as possible, so you know what to expect, especially utilities and appliances. Before making an offer, it’s vital to have all of this information in writing and thoroughly read the contract. - Check the space:
When buying a new home, make sure that it has enough space for all of your things. When looking for houses, make a list of things you have to have in your new place and things you could do without. It will help narrow down your search so you’re not spending hours looking at houses that you can’t afford.
Conclusion:
Remember that finding the “perfect” house doesn’t mean you’re going to get it right away. If you are patient, diligent, and persistent, you’ll eventually find a place that will be perfect for your needs and lifestyle. Happy house hunting!