10 Stress free buying real estate tips
Buying a home should be fun, but can be an emotional, time-consuming, and complex process. If you follow these tips it will help reduce the stress and make the process go as smooth as possible:
1. Check your credit - Before you apply for a home loan, regardless of your credit, it's a good idea to obtain a free copy of your credit report. If there are errors or things that need to be corrected, address them now before you have found a house as they do take time to show up corrected on your report.
2. Get pre-approved for a mortgage - The loan officer will ask you some questions about your assets and liabilities as well as ask for your income, SSN (to check credit) and debts. They will then give you a mortgage pre-approval based on these factors.
3. Define your monthly budget - Decide how much you want to spend. This will help you define what price range to look in to find the property.
4. Learn about the neighborhood - Based on your ideal criteria for a community, define the areas where you will look based on what is important for you.
5. Protect yourself - Ask your Realtor for a copy of the documents you will be asked to sign if you decide to buy the house. Read them ahead of time so that you'll understand the questions that you will be asked, the things you need to know, and the decisions you will need to make. This will make the process a less stressful, smooth home purchase since you will already know the contract that is being filled out.
6. Have reasonable expectations - Understand what is going in the current market, and realize that no house is perfect. Understanding and remembering those two points will help diffuse the negotiation stage, the inspection stage and the closing stage.
7. Who is going to live in the house? - Understanding your needs and trade-offs is something that you spend much time and effort doing. When you ask for another's opinion, remember they may not understand the current market and the trade-offs you have made.
8. Do not try to negotiate to the penny! - Negotiatiion is critical, but if you can get a fairly good deal, do not try to squeeze every penny out of a seller. The process could cause other items which are important to you to falter, or a seller to become angry and not want to deal with you. Your Buyer's Agent can help you identify that fine line.
9. Choose a property you like where you will be happy - Remember, this is where you will probably live for many years to come. Do you like most all the things that are important for you regarding the home, community, commute, area facilities, schools, etc. Weigh in what is important for you, and make your decision.
10. Find a great buyer's agent who will work with you - Besides finding a home and helping you with the process, make sure you connect positively with your buyer's agent. If you have not already spoken with a Buyer's Agent, find an experienced Realtor© to help you through the buying process. Fill out the form below and we will contact you soon.