First Time Homebuyers
The Road to Homeownership
Looking at homes becomes an exciting adventure the moment you move from window shopping online to house touring. It is crucial to complete the pre-approval process with your lender before beginning a serious home search. A pre-approval letter helps narrow your home search to attainable properties and could make the difference between getting your offer approved. Knowing your preapproval amount will allow you and your real estate agent to create a list of the best homes available within your financial range.
Here are some tips to narrow the search even further on your ideal home.
Need to get pre-approved?
Your "Perfect" Home
Make a list of your priorities and deal breakers in a home. Specifics make a difference. For example, you may want to factor in an extra room to serve as a home office. This narrows the search for you and the agent. A double vanity bathroom may be desired for you and your partner, but a home office is a must which may lead you to accept a smaller bathroom to stay within budget.
Begin on the Internet
There are numerous websites to start the online home search. Some of the most popular are Realtor , Zillow and Trulia. These sites pull from real estate databases throughout the United States to populate area listings. Realtor is often the most up to date as its feed pulls from MLS databases. If you prefer mobile apps, Trulia, Homesnap, Zillow, Redfin and Dwellr are all popular mobile apps that can instantly pull the latest listings for the buyer on the road. This is a great option for buyers who are driving through neighborhoods who wish to attain instant information about a specific home.
Attend Open Houses with Intention
Search for Open Houses within your price point to view homes in person that are like the criteria desired. Viewing homes in person can change the desired criteria compared to what a buyer thinks will work mentally. Ask the agent to send notifications of upcoming Open Houses as well as check online and in social media.
Arrive Early
Arrive to Open Houses early to walk the neighborhood and even potentially meet some of the neighbors. Getting to know the neighborhood you potentially may live in can help in the decision process and eliminate homes as well. Envision yourself as part of that specific community.
Prep Questions
While at the Open House, prep the following questions for the agent on duty.
- Have they received any offers?
- When does the seller want to move?
- When is the seller wanting to close?
- Is the price negotiable?
- How many days has the house been on the market?
- Any price changes since on the market?
- Any major issues or necessary renovations?
- What are the average utility costs?
