Surprisingly, buying a home doesn’t actually start with looking at homes. It starts with looking at your budget to see how much of a mortgage payment you could afford each month. Then, you begin saving for a down payment and shop around for the best mortgage with the least expensive interest rate. During this time, you can hire a highly recommended buyer’s agent who can help you find your dream home. After getting your finances in order, you should decide what you want and need in a home, and then give that list to your buyer’s agent. The agent can take this list and find possible houses that you may be interested in at your price range. Once you have found the perfect home, make an offer. Depending on your offer, you and the seller may haggle until you agree on a price, in which time you will enter into contract on the home. While the home is under contract you as the buyer must finalize the mortgage, have the home appraised, surveyed and inspected, and purchase title and home insurance. Finally, you and the seller enter closing, where you will pay for the down payment and provided services that got the home ready. (Title insurance, appraisals and home inspections.) The seller hands over the keys, and with that you’re the owner of a home!
Featured photo credit: Landmark Home Warranty via landmarkhw.com
