The most exciting part about buying a home is the home search! It is so much fun to explore different homes, until you find the perfect one for you. But before you actually get started, there are a few things that you should get in order, to make the process smoother and less stressful. Here are 7 steps that make buying a home easier!
1. Learn about about the process- The home buying process has a lot of steps to it! You can start by doing your own research or by talking to a real estate professional. Either way, make sure you understand the process. You don’t want to have any surprises pop up in the middle of a transaction.
2. Know your credit score- Your credit score is important when it comes to buying a home. It will help determine the amount of your monthly payment and if you can even qualify for a loan. Don’t worry if your credit score is lower than you want, there is still hope! You can talk to a financial professional and they can give you advice on how to raise your score. That way, when you find your perfect home, you’ll be ready to buy!
3. Review your credit report- Although your credit score has a big impact on buying a home, so does your credit report. You should review this every once in a while, anyways, to make sure you don’t have any discrepancies. If you discover something on your credit report that you think shouldn’t be there, you can try to dispute it.
4. Start saving- There are ways to get some of the costs of purchasing a home covered, but you still want to make sure you have some savings. Keep in mind, most of the costs paid upfront by the buyer are the home inspection, earnest money, and of course your down payment. These amounts can vary, so ask your real estate agent to help you with this.
5. Understand the responsibility- Owning a home comes with more responsibility than renting. You are now the one who is in charge of financially caring for the home. You’ll want to know how to take care of your home with regular maintenance as well as prepare for the inevitable repairs. If you care for your home properly, it could pay off in a big way!
6. Chose your buyer representation- As a buyer, there is no cost to you to have your own representation! Interview a few buyers’ agents, until you feel you have found the one for you. Ask them about some of the topics we went over in this blog, as well as how they communicate with clients and anything else that is important to you.
7. Get Pre-qualified- Most people do this step after they start searching for homes, but it really should be the first thing you do. Getting pre-qualified allows you to know your budget. There’s nothing worse than falling in love with a home, only to find out you can’t afford it.
I know this can seem overwhelming but the reward that comes with owning your home is well worth it!
The Desert Duo
Guiding Arizona Home
Michelle Morton & Sadyna Reino