4 Steps for Buying a Home

Thinking about buying a home? Check out these 4 tips to get started.

Take a look at your finances.

Unless you are lucky enough to have cash on hand to purchase your new home, you need to start by looking at your credit. You can obtain a copy of your credit report online. Once you have your report, check it over carefully and fix any issues you may find.  

Next, find a reputable lender and get preapproval for your loan. Currently, the real estate market is very fast-paced and fluid. The most sought-after listings sometimes sell on the first day. Having your financing in order will help you stay competitive in today’s seller’s market. 

Determine your needs and budget.

It’s important to remember there is a difference between how much you can borrow and how much you should borrow. Multiple websites offer online calculators to help you determine your housing budget. Don’t forget there are several factors besides just sticker price to consider: property taxes, energy costs, HOA dues, cost to commute, etc.   After you have an idea of your budget, make a list of the non-negotiable features.  How many bedrooms do you really need?  Is a fireplace absolutely mandatory?  Do you prefer an open floor plan?  What part of town do you want to live in?  Figure out what you consider a must vs what you could live without.  This will really help narrow down your search.

Hire an agent.

In today’s world, more and more buyers are house shopping online.  

While the web gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t get from an app or online. That’s why you are better off hiring an agent to guide you through the process. Typically agent commissions are paid by the seller, letting you gain their expertise for free!

Think long term.

When selecting your home, consider not just your own long-term plans but what the resale value will be when you sell. Consider crime rates, incoming developments, land values, and the school district. Even if you don’t have kids or these things aren’t important to you, they affect the long-term value. These are all topics a good agent can help you sort through.  

Lorrie Ramseier

Whether you are a first-time homebuyer or a seasoned expert, Ramseier Group would love to help you with your real estate purchase. Call 816.262.8077 today for your zero-pressure consultation.

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