10 Steps to Home Ownership

Homeowners will admit that home buying is definitely a process, with some ups and some downs. Here's a simplified guide to help you with the bigger picture. And when you're ready, I am here to help you with the details.

#1 Start saving now for your down payment. Research different loan options, and create your budget. As stated on my previous blog, the down payment you're able to offer will likely make a difference in the amount of home you can buy.

#2 Know your credit score. Once you know your score, clean up outstanding debts like student loans and credit cards. Debts don't have to have a zero balance, but you should be current in all your payments.

#3 Get Pre-Approved. When you're ready to start looking, know how much house you can buy. Sellers will take you more seriously if they know you've already been pre-approved.

#4 Find a Home. The fun part begins when you start looking for a home. Have a pre-determined idea of what you want in a home. How many bedrooms, bath, size, and local schools are normally at the top of the list for buyers.

#5 Make an Offer. When you find your dream home, it can be one of the most exciting moments of your life. Again, be prepared with your pre-approval to set yourself apart from the competition.

#6 Negotiate a fair price. This is where having a great agent becomes very important. Negotiating a price and other terms such as how much closing costs each party will pay, can make a or break a deal. There are many items that are negotiable in the home purchase process.

#7 Once your offer has been accepted, have a home inspection. Are there any hidden issues with the home? A good, reputable home inspector will find out for you.

#8 Have the home Appraised. An inspection is different from an appraisal. The inspection is for you the buyer, and the appraisal is for the lender. The lender will order the appraisal to make sure the home is worth the negotiated price.

#9 Close the sale. Closing day is definitely one of the many ups in the process. It means all terms have been agreed upon by all parties involved and the lender has the check ready for your home purchase!

#10 Enjoy your new home! This is one of the greatest purchases you'll make in your lifetime and I'm here to help.

For more tips and topics for home sellers and home buyers, please check out our previous blogs

Thank you for subscribing. Stella Whitaker, Realtor.

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