- Why am I buying a home?
Obviously you want – and need – to have somewhere to live. Your home is your castle, your safety, where the heart is, and all that. But why are you buying as opposed to renting? Areyou buying alone or going into it with a partner, family member, or friend? There isn’t a right answer, although it should go without saying that buying a home is a much longer financial commitment than renting — both to the space as well as to the people involved. You’re going to have to jump through a lot of hoops in order to secure a mortgage, so if you’re going to have to stretch yourself to be able to afford it, you may want to think twice. It’s also a big commitment mentally, so if you really don’t think you’re up for taking care of a home for years (and years) to come, then maybe you want to wait – or forego buying a home altogether. Don’t buy a home because it’s the Thing to Do, or because your peers are buying a home.
- How’s my credit?
- How do I choose a lender?
- What kind of loan do I need?
- How do I find a realtor or any home professionals?
- What home buying mistakes do I avoid?
Hindsight, as they say, is always 20/20. Because it’s just a big purchase, many new homeowners have that moment of buyer’s remorse soon after closing the deal and receiving keys to the property. The most important home buying mistake to avoid is buying a home that you can’t afford. Others include buying in the wrong area and looking for homes in all available outlets, including social media. When in doubt, ask your realtor.
- How do I negotiate an offer to purchase?
Finding a home isn’t the last step. Depending on the housing market where you’re buying, you may be up against tactics such as bidding wars, bully offers, or specific offer dates. Even if your market isn’t particularly competitive, negotiations between buyer and seller can turn frustrating at best, and nasty at its worst, causing you to lose your desired home. Rely on your real estate agent. Negotiating is indeed an art; you may as well leave it to the professionals.
- What do I need to make sure happens when I close the deal?
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate