Best Kept Secrets for Buying a Home
Posted by New Home Resource on February 20, 2014 in
Many people are nervous, anxious and distracted when looking to buy a home. What location? What is our budget? What if we buy the wrong one? Research and asking questions will kick start your process, along with these seven secrets for buying your next house…
1. When you are looking to buy your next home, avoid moving large amounts of money around or making uncommon, large purchases. Lenders need to see your stable and risk-free financial lifestyle so that you get the best loan possible.
2. Get pre-approved for your home loan before you start seriously looking to buy a home. Knowing how much you can afford and how much a lender will loan to you is crucial so you aren’t looking at houses you cannot afford.
3. There is no such thing as “the perfect time to buy”. The market is a constant, changing cycle and the right time to buy is when you find a house you love and can afford.
4. Don’t allow yourself to settle when buying a house, but bigger isn’t always better. The value of a larger home will continue to rise so don’t let your eyes be the guide. Think about living within your means.
5. Be sure to recognize when you’re getting a great house for a great value and try not to let your emotions overpower your instincts.
6. Hire a home inspector to look into your new potential home. Spending a few hundred in the beginning is better than wasting away thousands later on. Fixer upper areas are also good for bargaining,
7. Make sure you like the neighborhood. How far is it from schools, grocery shopping, work, etc? Drive around the neighborhood before buying into it so you don’t find out a little too late that the neighbors are loud or the area isn’t safe.