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Tip #1 Meet With Your Real Estate Professional
To begin, meeting with your trusted Realtor before you start shopping for a home, is the most important of the top 10 tips to know when buying a home. Your Realtor will be able to explain the home-buying steps, go over what to expect when buying a home, the timeline of buying, lay out a tailored road map just for you, and then, connect you with a lender who will place your needs above their own. Start with scheduling a hassle-free consultation here.
Tip #2 Don’t Assume That You Cannot Qualify
You know what they say about assuming. Could it be that you could qualify to purchase a home? Or you might even be super close to being able to qualify.! Don’t assume that you cannot qualify. Don’t NOT try! Oftentimes, people are afraid to take the first step and look at the financial aspect of buying a home head-on. You may be surprised to find out that you do qualify! Or maybe you need just a little coaching to get you to where you need to be. Our team of lenders can get you where you need to be if you’re not already there. Read on to learn more about the Top 10 Tips To Know When Buying A Home.
Tip #3 Don’t Shop Until You Have Been Pre-Qualified
Meeting with a lender before you start shopping for a home is one of the most important tips. Not only will it ensure that you are looking within the correct price point, but it will also save you a lot of time, energy, and money. A local lender can provide you with knowledgeable and tailored advice to your individual situation, helping you to make the best decisions. They can also help you to understand all loan options available, so you can make an informed decision on which will work best for you and your lifestyle. Once approved, we will show you every listed home that is in your price range!
Tip #4 Don’t Change or Quit Your Job Once Pre-Qualified
Switching or quitting jobs during the process of buying a home could disqualify you from being eligible to buy a home. You will need to have some time at your current job. Speak to one of our preferred lenders if you have questions about the length of your current job. Don’t switch job fields. This could also disqualify you from being able to buy. Quitting your job will cancel your income and will make it impossible to buy a home. Don’t quit or change your job, stay employed throughout the process. The lender will be completing verification of employment during the process of buying as well as checking and verifying paystubs. We want your home-buying experience to go as smoothly as possible!
Tip #5 Don’t “Low Ball” On Your Offer When Buying A Home
When it comes to buying a home, it’s important to make sure you don’t lowball your offer. You want to make sure you’re offering a fair and reasonable amount that reflects the market value of the home. Unless your agent has done the research and found the home to be overpriced and has advised you to go in low on your offer, you should make your best offer. Education is a key factor in placing an offer and your agent should be researching how long the home has been on the market and what homes in the area are selling for prior to placing an offer. We have seen an unprecedented real estate market recently so knowing these key factors will help you when deciding what to offer. Ultimately, you want to make sure you’re not undervaluing the home or yourself.
Tip #6 Don’t Skip The Home Inspections
Home inspections are an invaluable part of the home-buying process. Not only can they help identify any potential issues with the home, but they can also be an important tool in negotiating a better deal. Having a professional inspector inspect the home before you make a purchase can give you the knowledge and peace of mind that you’re making an informed investment and can help to ensure that you’re getting the most out of your purchase. We highly recommend watching our video: Why home inspections are so important during the home buying process! It provides a great overview of why home inspections are so important in the home-buying process.
Tip #7 Don’t Buy Furniture During The Home Buying Process
From pre-qualification through the closing on a home, keep in mind that any large purchases, such as furniture, could affect the amount you are able to borrow. While it’s tempting to buy furniture to fill your soon-to-be home, it’s best to wait until after you close on the home to make such a large purchase. This way, you will be sure that your loan is approved and you can shop for the furniture you really want. Talk to your lender.
Tip #8 Do Not Co-Sign a Loan for No One
It’s important to be aware of the potential consequences when co-signing a loan for someone else. While it can be a generous gesture, it can also be a risky one. You may be held responsible for the loan if the primary borrower fails to make payments. Not only will it change your net to debt income and possibly disqualify you from loan approval, but this could also damage your credit score and make it harder for you to qualify for a loan in the future.
Tip #9 Do Not Change Bank Accounts
When purchasing a home, it is important to consider all aspects of your finances. When it comes to your banking accounts, it is important to think carefully before making any changes. Make sure that your current accounts are in good standing and that you are able to access them easily. Speak to your trusted lender before making any financial changes.
Tip #10 Do Not Skip The Final Walk Through
One of the most important tips for buying a home is to make sure you don’t skip the final walk-through. This walk-through is a crucial step before closing on the home, as it gives you the opportunity to check the condition of the property and to make sure all repairs have been made to your satisfaction. You can check for any damages, water leaks, or fires, and that the seller’s possessions have been removed. Skipping the walk-through could lead to you signing the closing documents and then finding something wrong with the home that is now your responsibility to repair. Doing a walk-through prior to closing can help you avoid costly surprises down the road and give you peace of mind that you’re making a smart investment
Have a successful home-buying experience
It’s important to do your research and work with a trusted real estate agent when buying a home. It’s also important to remember the top 10 tips to know when buying a home. These tips include understanding the home buying process, getting pre-qualified and understanding the financing, understanding offers, home inspection, staying qualified, doing a final walk-through, and more. Doing these steps can help you make a more informed decision when buying a home and ensure you get the best deal possible. Contact your experienced real estate advocates, The Putzier Real Estate Team for a hassle-free, easy consultation today. Don’t forget to download your free home buyer checklist. Give us a call and enjoy the home-buying process! We cannot wait to talk to you! Justin Putzier 308-259-8004, Charlotte Putzier 307-259-4440.