Despite all of the technology available to buyers these days, their search for their dream home still takes time and careful research — regardless of whether they’re a first-time home buyer or a veteran who’s purchased multiple residences over the years.
Use this quick guide to help navigate your home search, become even more knowledgeable about what to look for in your ideal home, and, in the end, find the right property to purchase in 2017.
Prior to hitting the market and checking out listings, you need to take care of some necessary tasks, including saving up plenty of money for a new home, enhancing your credit score, and getting pre-approved for a home loan.
BUILD UP YOUR SAVINGS
Though America’s financial crisis is now in the rearview mirror, lenders nationwide continue to have stringent lending standards, meaning it takes significant amounts of capital for prospective borrowers to secure home loans.
Focus on building wealth before even considering your home purchase to ensure you have more than enough to convince lenders you’re ready to become a homeowner and handle the subsequent mortgage payments with ease.
IMPROVE YOUR CREDIT SCORE
Another factor lenders strongly take into consideration is the strength of potential borrowers’ credit scores. The math here is simple: The higher your score, the better you look in the eyes of lenders.
Doing things like paying all of your bills on time and in full, eliminating outstanding debts, and avoiding taking on new lines of credit can bolster your credit score and enhance your odds of securing not only a home loan, but also favorable loan terms.
GET MORTGAGE PRE-APPROVAL
After getting all of your finances in order, it’s time to head to lenders to get pre-approved for a home loan. Whereas pre-qualification is an estimate of how much house you can afford, preapproval is getting lenders to deem you worthy of receiving a mortgage.
Once you’ve been pre-approved, you can search online to find the most favorable mortgage rates and terms from various lenders and, ultimately, choose the one that’s best for you and your finances in the long term.
BEGIN THE HOME SEARCH
You’ve completed all of the dirty work, and now, it’s your turn to actually begin the home search in earnest by checking out what listings are available in the area in which you intend to purchase a home. You can start here :
4 Home search factors that will help you make the best decision.
Having said that, it’s in your best interest to find a realtor who knows the local real estate market well and has a proven track record of getting their clients in the right home that fits their budget and preferences.
It’s hard to argue with all of the quality traits experienced realtors bring to the table for their clients: savvy negotiating skills, a rich understanding of the local housing landscape, legal knowledge, and in-depth advice for home buyers on how to approach the entire process.
Here’s exactly what you can (and should) expect when hiring a realtor:
Market Expertise
Everything from where home values are rising the most to the best ice cream shops and concert venues: That’s the kind of intricate knowledge realtors haveabout the markets in which they work.
Sure, anyone can Google housing statistics and local community information, but realtors are constantly in the know and building their networks so they can provide buyers with every last detail they need to know about their market.
Negotiation Skills
With a veteran realtor comes veteran sales techniques. Put your trust in an experienced buyer’s agent who has proven to get great prices and the best terms possible for their past clients.
The best place to find out about the local realtors? you can start here: “Houston Texas Realtors”... head to examine their webpage profile and their social media presence. This is where you’ll find reviews and testimonials that can guide your decision-making.
Legal Knowledge
Legalese is not something the average home buyer knows a great deal about — but then again, they don’t have to, so long as they employ a realtor
Realtors are well-versed in the language of home purchase agreements and other legal documents, meaning you don’t have to study up on real estate law and, in turn, avoid headaches during the home buying process.
Referral Networks
Buying a home entails a lot more than attending listing showings and making bids. It involves dealing with lenders, title insurers, appraisers, and other real estate professionals who have a necessary hand in sale agreements.
Realtors work tirelessly to grow their vendor networks and build relationships with reputable pros and firms who know how to conduct business correctly and efficiently.
Leave A Comment