A first-time homebuyer might be able to rest easier knowing they're not the only ones who feel confused about the home buying process. Being educated about the real estate market and staying informed on the latest trends and tips for buying a home are some of the most important factors when looking for a home. A little research can go a long way toward getting you in the door with a minimum amount of stress.
- check your credit score - before you start searching for a home, make sure the facts are correct and fix any problems you discover
- determine your budget
- shop around for the best deals on loan/mortgage rates
- take the time to search for a home that suits you and meets your personal/financial needs
- become familiar with your rights as a home buyer
- learn more about the real estate market you're interested in
- get a home inspection - When making the decision to not invest in a home inspection, you're risking incurring extra expenses and possibly hidden defects in your house. Being educated about the current condition of your home is worth the low up-front fees.
- make sure an American Home Shield home protection plan is included in the sales transaction
- sign-off on all house closing documentation
- get professional help - find an agent you can trust and who'll help you with the billing process
- find the right time to buy - you don't want to make an offer in haste before you've thoroughly researched the market's availability
Typically, completing a real estate transaction in today's market involves multiple steps. Some of the most common mistakes homebuyers make occur because there's little awareness of the common pitfalls. Learn more about what's necessary to prevent potential negative situations:
- Stay within a real estate market you can afford. Don't out-price yourself.
- Decide whether or not a real estate professional is right for you. Choosing an agent is smart for several reasons. Agents can quickly target your buying interests and you reap the bulk of the benefits from their services as the buyer.
- Conduct sufficient research to find the best mortgage rates.
- Don't assume you can't negotiate closing costs when parties decide the final asking price of the home. You might be paying extra fees you could've saved by simply asking the sellers to include them in the home price.
- Be careful when examining homes that need to be fixed up. You might end up pouring more money and time into it in the long run than you think.