Follow these tips for buying a home the right way!
Whether you’re buying a home for the first time or are moving on to house #2 or #3, it definitely helps to come into the process as prepared as possible. As such, we’ve put together a list of our best tips for buying a home so that when all is said and done, you end up with something that makes you happy (with no hidden issues!).
Get pre-approved for your home loan
As with anything in life, it pays off to be prepared! If you take the time to get pre-approved for your home loan, you can do adequate research on fees, and know the true limit of your potential spending. In the end, it will save you from wasting time on houses that don’t fit your budget.
Inspect the property
Before making a commitment, know the true property lines of the home you’re interested in. It’s common to find out that the property lines are different than what you thought and how they were advertised. Save yourself the headache of border wars once a purchase is closed, and officially survey the property before making a commitment.
Besides property lines, it’s important to also make sure to hire a home inspector before pulling the trigger. They’ll be able to determine if there’s considerable damage that won’t be worth the cost to fix. But if the damage is negligible, you can use it as a bargaining tool to bring the home’s cost down.
In some neighborhoods, a mortgage is just the beginning of the financial commitments associated with home ownership. Make sure to get estimates for taxes, homeowner’s association fees, and utilities. If these costs stretch your budget, you’re better off looking somewhere else.
Do your research and make sure to always read the fine print of any contracts you’re signing!
When you’re found the house that fits your list of needs (and hopefully several of your wants!), it’s time to make a smart bid. Don’t offend the seller by going too low – make your bid fair, with room for bargaining. The seller will appreciate you not wasting their time, and with this strategy, there’s an opportunity for both parties to be satisfied with the end result.
Once you’ve decided on your dream home, it’s time to think about protecting it, and your possessions. Learn more about our homeowner’s insurance options, then get a fast and free quote online! If you’d prefer to speak with an agent, please give us a call at (573) 346-7224. We will take care of the rest!