Are you interested in buying a home?
It’s a very important purchase and there are many things that can go wrong with it.
Here are the 11 steps to make, in order to become a home owner and close a great deal.
1. Get financially ready for this big purchase
Do you still have a lot of consumer debt? Maybe a bad credit score?
Before even considering purchasing a home, you need to get all your financial issues solved. Save aggressively to get a bigger down payment. Pay off any debt you have that’s gonna hinder you, once you add a mortgage as well.
Repair your credit and make sure you get the best score possible, since this will also affect the type of mortgage you can get, how big the interest is and how many years you’ll be in debt.
A better credit score means a better deal, so try and improve it as much as possible.
2. Read real estate classifieds, browse real estate websites
In order to get the best possible home options, you should try and find everything in the area you want to relocate to. There are many websites that list tens of thousands of properties, so it’s not that difficult to get an idea about how the market looks like.
3. Get informed about home buying
Read as much as you can about the entire process. An educated customer is harder to fool, so you can get a better deal, if you know the ins and outs of the industry.
4. Choose a good real estate agent
It’s imperative that your real estate agent is qualified to serve you and has the best intentions. This can make a huge difference, since a good realtor will know how to help you negotiate better and also find some ‘diamonds in the rough’ that are worth more than it seems.
4. Negotiate tough
It’s time to negotiate and get the best deal you can. Afterwards, get ready to begin escrow and sign a preliminary contract.
5. Get a good homeowner’s insurance
Insurance. Important for everything that has any significance to you: health, career, life. And, of course, home. It’s time to shop for a good homeowner’s insurance and prepare for the next step.
6. Get a professional home inspection
A home inspection can show you any hidden flaws in your future house and save you a lot of money in the near future. You can either get a better deal from the home seller or get them to fix the problems.
Unless you do perform a serious inspection, the seller might get away with these house imperfections and you’ll have to deal with them in the future on your own time and money.
7. Buy the house
If everything is OK and the house is the dream home you always wanted, it’s time to close the deal. In this stage you already have your financing in place and the home inspection done, so there’s nothing stopping you from becoming a home owner.
These are the most important 7 steps for you, if you wan to buy a home.