Essential First Steps Of Buying A House
So you’ve decided it’s time to finally buy your first home. This is amazing news! This decision is extremely exciting. However, we all know that this major step comes with a lot of responsibility, and it can be hard to know where to start. If you’re not sure how to begin your journey, here are a few ideas about the first steps you need to take when deciding to buy a house.
Check Your Credit Score
Your credit score helps determine certain costs you’ll pay on a mortgage loan, like your interest rate. If you have a good credit score, chances are your interest rate will be pretty low since lenders will see you as a trustworthy investment. If your credit score is low, you’re probably going to be looking at a higher interest rate, if a lender approves your loan at all. You need to go into this process well prepared for any hurdles that will come your way. Checking your credit score is a necessary part of preparing yourself for what is to come.
Choose a Good Lender
You’re going to need to find a lender that fits best with you. Make sure you check out multiple options before you settle on one. Different lenders will have different loan terms, pay attention to each one and how they break down closing costs for your potential mortgage and your interest rates. Choose the lender whose terms align closely to what you are looking for.
Find a Great Real Estate Agent
A good real estate agent will save your life in the home-buying process. They will represent you throughout the process and will be a third party looking out for your best interests. They will also help you negotiate for the fairest price you can get on the home you want. They know all the important questions to ask that you might not know. Some people decide not to work with a real estate agent, but that is a huge mistake. In fact, we wrote a whole blog post about this that you can check out here. Basically, do yourself a favor and get a real estate agent to make this whole process a million times easier for you.
Determine Your Wants And Needs
Figure out how much you can spend on a home, and within that price point decide what you want in your new home. What neighborhoods do you want to live in? How many bedrooms and bathrooms do you need? What square footage are you looking for? Are you looking for a lot of land to come with the home? Are you flexible on any of these aspects of the home? Tune into what you really need, and what you’d like but would be okay compromising on. These are all important details that not only you need to know, but your agent needs to know as well in order to find the best home for you that can possibly be found.
Be Patient, But Act Swiftly
This market is crazy right now. Houses will go on the market on a Friday and be sold by Sunday. It may take you a while to find a home because they truly are selling like hotcakes. When you do find a home you like, look at it immediately and be ready to act quickly with a smart offer. It’s hard to be a buyer right now, but with a good agent, lots of planning, and a good head on your shoulders you are totally capable of getting a home that will make you happy and fit in your budget.
Hopefully this helped you just a bit. There is a lot more to the process than these few points, but these will definitely get you headed in the right direction. If you’re curious to know more about this process don’t be shy, reach out to us! Call or text Steven at 864-506-3706 or email him at steven@delisleinc.com. He’s happy to answer any questions and help you on your home-buying journey!