New Home Buying Process

Stepping into the real estate market to buy a home for yourself can appear to be a challenging task. However, if you break the whole process down into small steps, you will find it easy to understand. Everyone wants to find the dream home and get the most value for money; however, before you go house-hunting, you should realize that you may not be able to find the perfect home or neighborhood, but if you plan properly, you may just get the best deal possible.

Get ready

Before you do anything else, you need to get your finances straight. If you already own a house and intend to sell it, you will need to put it up on the market ahead of time. Moreover, you need to get a pre-approved mortgage before you get in line to purchase a house. Getting a mortgage agreement before hand will help you assess your financial limit and put you ahead of other buyers when you do find a property you like.

Go shopping

You should make a list of all your requirements – the type of neighborhood, nearby facilities, property size and build features, before you go looking for a house. It is recommended that you start your hunt by short listing potential neighborhoods according to your preferences and finances. Once you have your choice of neighborhood, you can start looking for a suitable house in the area. Hiring the services of a professional real estate agent is recommended if you don’t have the time or experience to scout various localities.

Make an offer

Once you have found the perfect home in the locality you want, you will need to secure it as soon as possible. Making an offer is the first, and one of the most important steps. Depending on the circumstances, the seller, the season and your patience, you can get a great deal if you are smart.

Get an inspection

Inspections are very important and strongly recommended before you sign the contract. Some lenders also require formal inspections before they finalize your mortgage. Even if you have thoroughly inspected the house, a professional can gather much more information and give you a better assessment of the property’s condition and value.

Prepare for the move

Once everything is finalized, you will need to start preparing for the move. You will not only have to arrange for all your furniture and appliances to be transported to your new home, but also check with your service providers and make arrangements for a change in telephone numbers and mailing address.