The Home Buying Process Made Simple
Date: updated on: February 10, 2012, 4:25 pm |
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We work have worked with thousands of home buyers during our careers and most of them come to us with the same issue: I want to buy a home but where do I start? This post will answer that question! The process of buying a home is quite extensive so we have broken it down into segments. Be sure to start by calling the Keenan Team for all of your real estate needs, then follow our blog to help guide you through the process! Start with Part 1 below and stay tuned for the next segment!
Part 1
So you’ve decided to buy a home…now what?? Many people find themselves asking this very question once they decide they want to buy a home. But what exactly do you need to do in order to be able to buy a home? It’s not like you can go down to the local Real Estate office and just pick one out, charge it to your credit card, and take it home. It’s a much more complicated process than that. In fact, buying a home is one of, if not the biggest investment you will ever make. You want to make sure that you go about it the right way and have an experienced team of Real Estate, Mortgage, & Title professionals to guide you through the process. With the right team, you will have a very exciting and enjoyable experience as you become a homeowner!
The first step you need to take on your journey to homeownership is to find out how much money you can afford to spend on a home. Again, a home purchase is much different than any other purchase you will ever make. A typical home mortgage loan is financed over a 30 year time period. That is a long time to be committed to a loan payment so you first want to make sure that you can afford the monthly payment. You do this by meeting with a qualified mortgage lender. You can meet with a loan officer at your local bank but they may not have the same kinds of loans available as a mortgage company. There are many great mortgage companies out there that can provide great loans and great service. It may be wise to consult with a few of them before choosing one to work with on your home purchase.
Once you have decided on a lender and a loan, you need to choose a realtor to help you choose a home to buy. Many buyers will meet with a realtor first and then with a lender and that is okay too. Meeting with a realtor first can be beneficial because they can then assist you in choosing a qualified lender. Often times we encounter people that are just driving around calling on every real estate sign they see. While this may seem like a good time, it can be very discouraging to buyers when they find out that the houses they are calling on are too expensive for them, or worse, already sold. By committing to one agent, you will receive personalized service and be able to focus on the homes that you can afford rather than wasting your time and getting discouraged looking at the ones you can’t. One agent can get you into any home that is listed for sale in the area and can search for homes that specifically meet your needs so that you can find the best home for YOU!
