5 Simple Steps to Home Buying
Are you a first time home buyer that needs confidence in your home purchase? Here are 5 simple steps to break down home buying.
So, you're finally thinking about becoming a first time home buyer. Your parents would be proud.
It's a scary and exciting process, but one you're ready to tackle head-on with some simple steps.
After doing some research, you've realized you can own your own home for the same amount you've been throwing away on rent. Handing your money over for that monthly rent payment has gotten old.
That beautiful house for sale on Spruce Street has your name written all over it. The question now is, where do you start?
Here are 5 simple steps that will get you into the perfect home.
1. Have No Fear of the Buying Process
If you've never gone through the home buying process (which is probably why you're here), the first thing to understand is there is nothing to be afraid of!
While the process can seem intimidating to a first time home buyer, rest assured that it's not nearly as complicated as you may think.
With the Charlotte real estate market predicted to continue booming in 2017, thousands of buyers are expected in the market.
Figure out what you can afford, and what you're going to need for a down payment. This will take the fear of over-buying out of your mind.
2. Your Credit Score is King
A good (or great) credit score can save you tens of thousands of dollars over the term of your mortgage.
Before diving into home ownership, make sure you do everything possible to make your score shine.
A poor credit score could even keep you from getting a mortgage altogether.
Credit is king.
3. The Right Realtor Makes All the Difference
A few years ago my fiancee was looking to buy her first home. Her experience with realtors was all over the board.
The first realtor she met talked a big game. He was going to find her the home of her dreams and she wouldn't need to lift a finger.
Three weeks and a dozen unreturned voicemails later, it was obvious that it was time to look for a different realtor. He didn't do a thing for her.
Realtor number 2 was the exact opposite. She relentlessly called several times a day -- often at inconvenient times.
She was like a fly that you can't shoe away, but returned no real results.
Finally, realtor number 3 actually listened to her needs and returned several properties that were great fits.
Choosing the right realtor is key to a first time home buyer.
4. Choose Location, Don't Let it Choose You
Take your time while house shopping. Don't settle for buying a home in a location you're going to regret later.
If you want to live in a neighborhood full of change and growth, make sure your realtor fully understands that.
If it's the country life for you, don't waste time looking at homes in a busy subdivision.
5. Simple Steps to Take the Paperwork Headache Away
Of course, the paperwork involved in buying a home is not at the top of the fun list.
Talk to a local mortgage professional to help walk you through the process. It's what they do every day. Any question you have, they will have an answer.
In addition, make sure you budget for unexpected closing costs that you may not be accounting for.
The pride and financial rewards of being a first time home buyer is second to none.
These simple steps will make the experience smooth and rewarding.