For most people, buying a home is the largest investment that will be made in their lifetime. Before embarking on the home shopping experience, it is important to connect with the right Realtor and develop a new home checklist of needs and wants. Those who are serious about home buying should also contact a mortgage company or bank to obtain a pre-qualification for a home mortgage loan.
Pre-Qualify for a Home Mortgage Loan
A mortgage lender can accept a home mortgage application as well as related documentation such as income verification and tax returns before a home is found. By processing this information, along with a credit score, she can give the home buyer a purchase price range for a new home. Not only will this narrow down the real estate market, it will also avoid wasting time looking at homes that the buyer cannot afford. In addition, many sellers are more willing to negotiate with home buyers who have been pre-qualified for a mortgage.
Find a Realtor
A Realtor is a professional who specializes in home buying and selling real estate. When choosing a Realtor, choose a person who specializes in the type of home the buyer is interested in purchasing. Some Realtors will have a specialty in luxury real estate, farms, condominiums and duplexes or other types of residential real estate.
Talk to other homeowners and ask for referrals. Most homeowners used the services of a Realtor when purchasing their home. In many cases, they had interaction with their Realtor as well as the Realtor of the seller. Talk with several people to find out about what they liked and did not like about their Realtor. Get recommendations from others and then contact several Realtors to discuss needs and wants. Go with the Realtor that provides the best service and seems most accommodating to the home buying schedule.
Develop a Checklist
There are most likely hundreds, if not thousands, of homes on the market in any given area. It is important to narrow down the choices that are available to avoid confusion and disappointment in the home buying process. Developing a new home checklist of needs and wants can eliminate wasting time for the Realtor, seller and buyer.
Determine the minimum number of bedrooms and bathrooms. For many home buyers, this minimum number is not negotiable and will weed out many properties. Next, determine the style of house. This can be choosing the number of floors or the design of the home. Finally determine the must-haves of the home such as a fireplace, large yard, walk-in closet, separate tub and shower in the master, open floor plan and other necessities according to the buyer’s needs.
Using online realty websites, the buyer should conduct an online new home search that appeals to him. Choose several that meet most of the needs and wants on the checklist, as well as the price range, and forward the list to the Realtor. This will help her narrow down the list of potential choices by giving her a better idea of what the buyer would like in a new home.
Buyers should take their time in shopping for their next home. It is an important decision that should be well researched. All parties should be satisfied with the home as well as the negotiated deal to avoid buyer’s remorse. An experienced Realtor can be an excellent partner in the home buying process by lending professional advice and expertise.
Stacey Abler - Stacey Abler is a freelance writer and entrepreneur who lives near Atlanta, Georgia. She has successfully operated several businesses ...
