Real Estate Tips

Finding Your Dream Home

So You're Ready to Buy a Home..Where do You Begin?        

I Love working with Home Buyers and helping them find their Dream Home! Their enthusiasm as they begin one of the most important journey's in their life, is what motivates me everyday as a Realtor. Each family is unique but one concern that always stands out about the buying process is that it can feel overwhelming at times, especially for first time buyers. Aside from looking at houses you like, where do you start? How do you find a good agent? How do you determine your budget? These are questions I get with almost all of my first time buyers. 

If this sounds familiar, or you are considering buying a home for the first time and are starting from the very beginning, take a look at my helpful steps to home-ownership.

Step #1. Create Your "Wish List" 

Start early! Even if you're three or six months, or even a year out, I always encourage my new buyers who are several months out from buying to really think about what they want in their new home. Most people already have a good idea of what this is but sit down and actually putting it in writing can really help and clarify it for you and your agent. Do you have a specific neighborhood or area you want to live in?  How many bedrooms and bathrooms do you want? How much square footage will you feel comfortable with? Do you want a single story home or prefer a home with two stories? Are you willing to take on some major work, just cosmetic fixes or want a home that's move in ready? Do you know what your must haves and deal breakers are?  Do you have or plan to have kids and is it the school district that matters most to you?

Thinking about these things ahead of time and establishing a clear picture helps both you and your Realtor. These criteria help your Realtor to focus in on your wish list and target the absolute best properties for you to choose from.

Step #2. Find a Great Agent

This is a critical step and you shouldn't settle! A Realtor is going to become an integral part or your life, so pick someone who you genuinely get along with. When you reach out to a potential agent, does that person keep in contact with you and follow up regularly? You want your future Real Estate agent to not only be tech savvy and in touch with their sphere, but have a solid relationship with previous clients. Once you find someone you think is a good fit for you, be sure to be very open with your expectations for this process. You want to give your agent a chance to meet your needs! Don't be afraid to ask a lot of questions or to be honest with how you are feeling. The buying process can seem overwhelming sometimes, but a good agent will walk you through this process with ease.

Over the past few years, I have assisted nearly 100 happy families through the real estate and mortgage process!  

Step #3. Get Pre-Approved

Up there with the very first things you need to do as soon as possible when you are ready to buy is get pre-approved! A lender will help you figure out exactly what you are qualified for and can afford. Through a lender, you can get pre-approved for credit, which involves providing your financial documents (W-2 statements, paycheck stubs, bank account statements, etc.,) so they can verify your financial status. You want to do this BEFORE you start seeing houses. Trust me! The last thing you want to do is begin seeing houses with only your best guess for what your price range is. You will be heartbroken if you are ready to write an offer and find out that it's above your max budget. On the flip side, your lender might show you that you are actually qualified for much more than you think, opening the door to many more potential options in your search. Talk to your Realtor, he or she should have a great referral for a lender. It's important to find an agent who has a preferred lender because most of the time it means you will be a priority to that person. The lender you choose needs to be someone you can feel comfortable calling with questions. Where there is a great agent, there is usually an awesome lender.

Step #4. Start your Search

This is where things get really exciting! Now that know what you're qualified for, your agent will start an online search for you based on your exact criteria and price range. Save every single house that you love - you want to be able to see as many as possible! You will likely need to refine your search criteria based on the pre-approval amount. Your taste might event change a little bit once you have started seeing houses in person! Just be sure to let your agent know so they can continue showing you houses that meet your expectations.  If you see a property that you’re interested in, make sure to let your agent know the property address.  Be sure to ALWAYS have your agent be the one to look up property details for you instead of just calling the phone number on the sign or the website. They have access to information that websites like Zillow and Trulia do not have - many times that includes the correct status of a home.

Step #5. Go Shopping

Have your agent set up showings for you to see the homes you are interested in. With your agent and their team, try and stick to a weekly showing schedule. Regularly seeing houses with your agent will keep you both focused. The real estate market moves fast! You may see a house you love that goes off the market before you even have time to circle back and see it again at a later date. Searching for a home is a delicate balance between not jumping the gun and settling, and taking TOO much time. Remember, try not to get attached to any home you see unless you write and offer and that offer gets accepted. Things tend to change in a heartbeat in this industry!

Step #6. Make an offer

Once you find your dream home, your agent will walk you through the process of writing an offer before they send it off to the listing agent, whose sellers will usually either accept or write a counter offer to your offer. The process of countering can be a little tedious as both parties have to agree to not only on the price, but several other variables like items staying, who will pay for what closing costs, the move-out and move-in date, etc. Stay patient. Once your offer is accepted things get easier.

Step #7. Congratulations, you're in contract!

This is an incredibly exciting time because this really solidifies your home ownership journey. This is when both you and the seller are contractually bound to terms of the purchase agreement.  There are timelines for when inspections need to be completed, the appraisal inspection (ordered by the lender) must be completed, and full loan approval must be received. Staying in close communication with your agent and lender is key.  Your lender will be requiring documentation as far as income, employment, tax documentation and large deposits.  Make sure to get this to your lender in a timely fashion.

Step #8. Inspections and repairs

Once the transaction is in contract and the loan amount is approved, your agent will schedule a pest inspection and home inspection for your new home. You will need to be present for a walk-through at the end of the home inspection with the inspector and your agent so that you can be clear on the condition of the home, Once inspections are completed, your agent will work with you to create a request for repairs if need be. The request for repairs is your list of things you would like the seller to fix or offer a credit for before the transaction is closed. This process can also be back and forth, so try and stay patient with this as well.

Step #9. You're near the Finish Line! 

All that is left is to sign your final loan paperwork, which can be done at an escrow company or at your home, and do your final walk-through. At this point, you've probably talked to you agent daily for the last 30-60 days, and you both are excited to get this finished! Celebrate with each other, you both deserve it!

Step #10. Move in!

Congratulations! You're a homeowner! Thank your Realtor by leaving them a positive review and sending them to your friends and family when they are ready to buy or sell! This is the very best way to show your appreciation for all the hard work they have done for you.