Buying a house can be very taxing, especially for the first-timers. There are so many tasks to do and so many documents to prepare. There are times when a buyer puts his plan on hold because he just doesn’t have the time to do all the required steps in acquiring his dream house. If you are a novice buyer and you don’t want to miss a crucial step in buying a house, here are some checklists:
1. Know your purpose. Are you going to buy a house and live on it or you are going to have it rented? Will you stay on it for a long time or only for a few months or years? What type of house do you want: single –family, condo, or a townhouse?
2. Get pre-approved first before looking for a house. Determine how much loan you can get so that you know your budget for the house that you will be looking for.
3. Make sure you have enough money to pay for the down payment, monthly mortgage, and other sleeper costs. It is important that you will not run out of gas to avoid the risk of losing your house.
4. Find a skilled agent. Hire an agent that you can trust. He can help you understand the housing market better and take care most of the buying and selling transactions. Hiring an efficient and trustworthy agent can save you a lot of headache from the whole process.
5. Start house shopping! Check online resources including social media pages. Just type in the search box keywords such as “single-family house’’ together with the name of the neighborhood where you want to live. This will take you to several links where you can see the listings accompanied by pictures, descriptions, and other important information.
6. Know how much the value of the house is in connection with the current market trend. This is where the expertise of your agent will come in handy. He will make you understand the right price for the house that you are going to buy.
7. Negotiate, negotiate, negotiate! The price set by the seller is not the last price. If you know the actual value of the house in the market and the improvement cost that you will incur, you can use this information when you make a deal.
8. Prepare all documents for closing the sale.
9. Plan on your moving date. Once everything has been taken care of, the agent will deliver to you the house key. Welcome to your new home!