The Home Buying Process
Whether you are a first-time homebuyer or a seasoned homebuyer, understanding how the entire process of purchasing a home works will be in your favor. This post serves to break down the basic steps of buying a home to help prepare you for what is possibly in your near future.
- Choose an agent. The best place to start is by asking family members and friends for referrals for an agent to trust. Then, set up interviews with several real estate agents to find one that suits your needs, communicates well, and has your best interest in mind.
- Know your financial limits. Whether you apply for a mortgage pre-approval or not, knowing your financial limits ahead of time will help you in the home buying process. It will be a waste of your time, and your agent’s, to find a home that you love – only to have no possible way of affording it.
- Create a “wish list”. It is important to have a list of things that you “must have” and that you “wish for” when looking for a new home. The items under your “must have” list should be non-negotiable (e.g. school district, commute time, lot size), while the items on your wish list can be “wants” that you will be willing to compromise on (e.g. number of bedrooms, new home vs. pre-owned). Providing your agent with a wish list will better suit him or her to find homes that suit your needs and desires.
- Search, search, search. Finding the right home to purchase takes time and effort. A good agent will do many searches for you, but you also need to take an active role to search out properties that you are interested in seeing.
- Compromise, but do not settle. Compromises are necessary in life, and finding the right home often means that you will compromise in some areas. However, do not settle for a home that is not what you want. Settling for a home on a slab instead of on a basement will not make you happy in the long run if you really need the extra space. Go back to your “must haves” and your “wish list” and evaluate what you can compromise on – and what you cannot.
- Make an offer. This is the exciting part! Once you find a home that you are happy with, make an offer. A good agent will help you come up with a strong offer that is in your best interest.
- Do your due diligence. Make having a home inspection a priority to make sure that there are not hidden problems that have not come to light. If issues are found, negotiate for the cost of repairs to be taken off your plate.
- Attend the closing. Once the prior steps are complete, the transaction of purchasing the home requires a great deal of paperwork. Your agent will guide you through the process – and then you will officially be a homeowner!
At Jadestone Real Estate, we are here to make home buying easy and rewarding in San Antonio. Our agents work to successfully merge the two priorities of “needs” and “wants” to ensure that you find a home that suits you. Call today to learn how we can help you find the perfect home.
Posted on Behalf of Jadestone Real Estate