Don’t let home buying overwhelm you. I’m here to help each step of the way.
There are many benefits to purchasing your own home:
Predictable monthly payment
Freedom to make your home your own
Build equity- pay yourself, not a landlord
Potential tax benefits
Leverage your asset to purchase income properties and build wealth
Experience the pride of home ownership
Real Estate investment is one of the safest investments you can make!
Did you know that home owners have 40x the net worth of renters? Click here for more info!
The Home Buying Process
If you’ve never purchased a home before, the home buying process is likely a little foreign to you. Here’s what you can expect the home buying process to generally look like:
Meet with your Realtor to go over your wants and needs in a new home. Your Realtor will want to have a strong understanding of how you envision life in your new home, what you need in your new home, and what areas you’re looking to live in.
Get Pre-Qualified with a lender This is a really important step in the process. You’ll need to look at your finances and budget to see what you will be able to qualify for and how much you’d like to spend on your home. Click Here for more info on what you want to look for in a lender.
The Home Search Narrow down your options online and tour homes in your budget in person with your Realtor.
Make an Offer You found a great house! Your Realtor will negotiate your offer and if both you and the seller agree on the terms, you’ll be under contract!
Home Inspections During your due diligence term you’ll want to really make sure this house is right for you. Hire a home inspector to look over the home. You may also want to consider other inspections such as radon, sewer scope, or engineering. Your Realtor will help you with each step of this process. Your Realtor may also be able to negotiate with the seller to have repairs made if needed.
Appraisal After going under contract, your lender will be collecting all of the necessary documents from you to get you approved for your loan. You’ll want to work closely with your lender during this time. Your lender will order an appraisal to be done on the home. An appraisal is an independent valuation of the home. If the appraisal comes in at a lower price than the contracted purchase price, your Realtor will need to negotiate a solution with the seller.
Closing It’s closing day! You’ll send a wire to the title company for your portion of the funds to purchase the home and your lender will do the same for the loan portion. At the title office, your escrow officer will go over all of the loan and legal documents as you sign them. Once the deed has been recorded with the assessor’s office, you’re officially a home owner! Congratulations!
