Buying a home is stressful and can be hard to know where to start. Check out the steps you can take to help your home buying process go as smoothly as possible.
Get a Good Realtor!
The agents here at the KKG have proven how important it is to have a good realtor. With inventory low and demand high, you will need a realtor with experience and connections to ensure you get the best possible deal during your buying process. This process can be confusing and demanding, which is why a realtor that’s knowledgeable and personable is critical. Your realtor should have your best interest in mind, answer your questions, and provide guidance.
Research and Plan
The second step is to research and plan. There are many different types of homes, for example, single-family versus multigenerational. Knowing the style of home you want is important because it guides your budget and the houses your real estate agent will present to you. It is okay to change your mind, and you likely will at some point. What are you looking for in a home? What is your ideal house size? Consider minimum versus maximum square footage, the number of beds and baths you want, and a large versus small yard. Research your work commute, and if applicable, your children’s commute to school. If you have an area in mind, look into the average price for a home there.
Once you know what you’re looking for, it’s time to create a realistic budget. Your Realtor can guide you to a great lender. Your lender will help you determine your buying power. Your budget should represent what you can comfortably afford. While budgeting, you should look into and be aware of your credit score, mortgage loans, and getting a preapproval. Your budget should not only include paying for your house but also transitional costs. Do you have to pay rent or a mortgage for your current home, and will you have to pay for the new one too? Will you need movers and a moving truck? These are all things you should keep in mind while planning your budget.
Your budget and the current housing inventory may not allow for all the things you want in a home. Create a priority list of what’s most necessary to the least. What is a need versus a want? This list may come in handy during the house-hunting process. With the current housing inventory being so low, it is critical to move quickly on the home you like, so it’s important to know what you’re willing to sacrifice ahead of time.
Keep your plan and budget in mind. Share these with your realtor, so they can present you homes that meet your needs. Communicate with your realtor specific things you know you do and do not want. Once you have potential locations, be sure to check out the neighborhood at different times of the day. Is there bad rush hour traffic on the weekdays? What’s the area like during the day versus the night? Look into the local neighborhood and your possible neighbors. Make sure to ask questions throughout the process. A great thing about The KKG agents is their knowledge of local areas. They can help you find neighborhoods that meet your wants and needs and answer any of your questions along the way.
Once you have decided on a home you love, it’s time to place a competitive offer. Your agent will advise you on what that offer should look like based on the market and the popularity of the house. They can also depend on the prices of similar homes in the neighborhood, the home condition, and what you can afford. Keeping all these factors in mind, your real estate agent will help you get the home you want.