How to start the home buying process

Buying a home is one of the biggest decisions in your life. Whether you’ve done it once, or multiple times, you know it is a whole process. A process that takes time, energy, and can be overwhelming. Buying a home requires negotiating skills, financial knowledge, and legal expertise. In this blog, we’re going to discuss how to start the home buying process. Some of these topics include: how to begin, tips, and the advantages of hiring a real estate professional.

One of the first things to consider is…How much home you can afford? You don’t want to sell yourself short by thinking about this on your own or internet searching in circles. Do yourself a favor and go have a conversation with the people in the know – Realtors and Mortgage loan officers. Simply speaking with a local professional about buying a home can put your mind at ease and get you started in the right direction.

Mortgage loan officers are available to help you determine your price range, the do’s and don’ts of things while you’re in this process, along with educating you on all the many types of financing options. Once you’ve determined your affordable price range, your Realtor can begin their work of narrowing down homes for you to view.

Finding the right professional to work with is very important. There are many Realtors out there, and you need to find the one that you are able to talk to comfortably, communicate your needs, and whose opinion and judgement you respect. The Realtor also needs to be able to trust and communicate with you comfortably as well because they are looking out for your best interest. A clear advantage of hiring a Realtor is so you don’t have to go through this alone. They have the background, experience, and skills to guide you through each step of this process. Another advantage is that they have extensive knowledge of market trends, neighborhoods, communities, and what’s already for sale (or going to be) throughout the area.

Once you decide on who you’d like to represent you, they will present you with a disclosure statement before any action is taken. This explains what a Buyer’s Agent is and does, the agreed length of time you will work together exclusively, how compensation works, and other topics. After all, you are entering into a relationship with this person and everyone needs to be open and on the same page.

Other things to consider are:

• The community you want to live in.
  • Do you want to be near amenities, on the outskirts, or your own oasis in the country?
  • Is it near your job, close to grocery or other stores, easy access to public transportation, or parks/play areas?
  • Are there good schools, churches/synagogues, childcare services?
  • Other aspects?

Buying tip #1: If commuting time is important to you, take a “test drive” by driving from work to the home you are considering. It’s also interesting to see if there are multiple ways to get to and from your destination.

• What are your home requirements?
  • Single family home, townhouse, other?
  • Older, newer?
  • One story, two story?
  • Number of bedrooms and bathrooms?
  • Any other special features?

Buying tip#2: Pay attention to the original listing date of the homes you look at. Sellers tend to be more flexible the longer the house is on the market.

If you are in the market to buy a home or land and need a Realtor, give one of our ERA agents a call. All of our real estate experts would be glad to help you with all of the things above and help your home buying experience be as seamless as possible.