The Seven Steps to Finding and Buying Your Dream Home

Have you decided that it is time to take the plunge and purchase the home you’ve always wanted? Have you been saving up money for a down payment, and now reached the point where you want to purchase your first home or make an upgrade?

The process of finding and purchasing your dream home, or even your first starter home, can be wrought with stress and frustration. However, if you follow the seven steps outlined below you will have an easier and more successful time.

Step 1 – Find a Mortgage Broker You Can Work With

Working with a mortgage broker allows you to get the best possible service and best possible mortgage product for your particular needs.

Step 2 – Get Pre-Approved for Your Mortgage

Getting pre-approved lets you know exactly how much you can afford to pay for your new home, what your payments will be, and also preserves your interest rate for up to 120 days. Being pre-approved also puts you at the front of the line when making an offer on a home showing the sellers that you can attain financing and that you are serious.

Step 3 – Make a List of Your Needs and Wants for Your New Property

Once you know your price range it is time to start making a list of all of the attributes you want your new property to have. Where do you want to live? Are there specific neighborhoods you would like to live in? What kind of home do you want? How many bedrooms do you want or need? How many bathrooms? What about the yard? Do you want to make repairs and improvements or do you want your home to be “move-in ready”? Ask yourself all of these questions and make a list of what you are interested in before you ever meet with potential real estate agents.

Step 4 – Find a Real Estate Agent You Can Trust and Work With

One of the best things you can do when looking to purchase a home is to find a good real estate agent who you can work well with, I can certainly provide you with a suggestion or two upon request.

TIP: Find a real estate agent who specializes in the specific area you wish to purchase property in.

Step 5 – Search for Your New Home

Once you have a real estate agent in place, let them show available properties to you. Real estate agents know about the ins and outs of the purchase process and are the best people to educate you on the process of making a purchase; use this knowledge to your advantage. Also, it is always best to have your real estate agent present when you want to look at property. The agent can tell you more about the property and let you in on any of the positive and negative features it may have.

TIP: Visit the home you are interested in making an offer on more then once, day and night, to get a feel for the area and neighborhood. Always bring along your checklist of needs and wants. You may find that you add to this list during your search.

Step 6 – Make an Offer through Your Real Estate Agent

Once you have found the property you want to purchase, have your real estate agent write up and submit an offer. List everything on the offer that you want including things like conditions of financing, inspections, surveys, appliances, light fixtures, window coverings, etc…

Step 7 – Close the Deal and Enjoy Your New Home

Once your offer has been accepted it is time to close up the deal through your lawyer and move into your new home. Your lawyer will provide you with the papers to sign, register the property in your name, and obtain the keys and the deed to the property for you.