Congratulations, you've decided that it's time to buy a house. Whether you've owned a home before, or this is your first house, there are many things you need to know before finally signing on the dotted line. Buying a house is a big commitment and should be taken one step at a time so that you get the most for your hard-earned money. While many people know how to comparison shop for cars, clothing and a variety of other things, they sometimes forget that buying a house takes just as much care, if not more. Purchasing a home is considered one of the biggest and most important purchases of your life. It should not be a time fraught with panic and uncertainty, but one filled with joy and anticipation, the guidance of a good Realtor can help you achieve this goal.
You most likely have a general idea of where you want to live, but you probably haven't taken the time to complete your wish list. Well, now is the time to do so. Not only will this help you in finding the perfect house; it will also help your Realtor do a better job for you. At this point, it's OK to let your imagination run wild. Write down everything that you've always dreamed of in a home. Do you want one, two, or three bedrooms? How many bathrooms do you need? Does a kitchen with an island tickle your fancy? Is a gourmet kitchen for entertaining or a large family room more important right now? Now that your wish list is complete, it's time to prioritize. Divide your list into two categories; one labeled "Necessities" and the other labeled "Wish List". Make sure you don't leave anything out. After all, you will be spending many years in your new home, and it should be a place you will feel comfortable in. If you have children, you may want to find a home with a floor plan that is suited for the specific needs of a family. Floor plans can convey an open feeling for watching young children or a feeling of privacy more suited for a family with teenagers. You may also want a home that is located in a neighborhood with a good school district. Your Realtor can help direct you toward the neighborhoods that will fit your needs.
It is important to evaluate your buying power so that you have reasonable and realistic expectations when it comes time to look for a home. A mortgage calculator or cost analysis sheet can be a good starting point, however it's always wise to obtain loan pre-approval from a qualified lender before beginning your home search. Your Realtor can refer you to a mortgage lender.
Now that you have been pre-approved by a lender, and you know what you want in a house, you Realtor can begin showing you potential homes. You're very excited to find your dream house. You and your Realtor arrive at a house and it immediately appears to be exactly what you are looking for. But before you make the decision to buy, there are a few things you should know. First, put your emotion and excitement aside and look at the house objectively. Will this house meet your needs? Is this the neighborhood you want to live in? Are there any major repairs that need to be done? If so, are these repairs that you can make or will you need to hire a contractor? Is the foundation solid, and are the major systems in working order? Once you have looked objectively at the house you will be able to make a rational buying decision. Don't worry about catching every little detail at this point. You will have the opportunity to have the home inspected by a professional home inspector once your Realtor has helped you put the home under contract.
