Home Buying Basics: How To Prepare Yourself
Buying a home is an exciting and exhausting experience! For many, it is the largest financial decision of their life, but having a plan in place, using the right lender and agent, and leveraging the best tools can help reduce the stresses and frictions of home buying. Here’s the basics to buying a home.
Step 1: Is It the Right Time For me?
If you’re renting, you want to consider if buying a home makes sense financially. We explore this topic here in more detail to help you understand the tradeoffs between renting and buying.
Topics: Rent vs Buy
Step 2: How Much Can I (Comfortably!) afford?
Buying make sense? Great! The next step is figuring out how much you can comfortably afford - and how much cash you actually need to buy a home.
Step 3: Choosing a Lender and Getting Approved
Contrary to popular habits, getting your financing in line before you start searching in earnest not only helps you understand what you can afford, it can help you strengthen your offer by being a less risky buyer.
Step 4: Finding the Right Agent
Good real estate agents are hard to find - but can make all the difference. Better yet, as a buyer, you don’t pay out of pocket for using an agent!
Step 5: Finding The Right Home
Hands down the most fun, but often the most exhausting part of home buying. We help you know what tools are best, what questions to ask, and what to expect along the way.
step 6: Making The Offer
Congrats! You found your dream home! How does making an offer work and what happens next?
Topics: Bidding and Offers
Step 7: Closing
Your offer has been accepted, and now it’s up to the attorneys. What goes on during closing, how much cash do you need, and what should you request from sellers if there are issues?