Pre - Qualification
Talk to a mortgage broker to determine how much you can afford for your new home.
A. Get Pre-Approved
B. You will be Represented by a Professional
Understanding your budget is the exciting first step in your home-buying journey! When you're pre-approved, it shows both the seller and the agent that you're ready to a move. Plus, the pre-approval helps your agent know exactly what price range to focus on you. This letter confirms that you've applied for a mortgage and have a solid commitment from lender, so when you find that dream home within your pre-qualified range, the seller will see you as a serious contender for their property!
The buyer has the freedom to select their preferred agent when purchasing a home. It's essential to conduct your research to ensure the agent prioritizes your best interests. Choose three agents, meet with them, and questions to determine if they are the right fit for you. Always keep in mind, the agent represents you, the buyer, not the seller.
C. Make a List of Your Family Needs & Wants
Gather your family and create two lists. The first list should detail the essential items you need in a home, such as the appropriate number of bedrooms and bathrooms based on your family's size. The second list should focus on your desires—things you would like to have but aren't strictly necessary like a swimming pool. As first-time buyers, remember that you may not be able to check everything on your wish list, but these lists will help your search. Additionally, try to envision how your belongings would fit into the home and the layout meets your needs.
D. Focus & Organization
To enhance your home search efforts, keep essential items easily accessible in a convenient location. These items may include:
01. A collection of properties your agent has shown you, along with ads you've saved.
02. Paper and a pen for note-taking during your search.
03. An instant or video camera to help jog your memory about specific properties, especially if you’re visiting multiple showings.
04. Consider the location from a seller's: Would potential buyers find it appealing based on factors like school district, crime rates, and the proximity to positive features (such as shopping, parks, and freeway access) versus negative ones (like abandoned, landfills, or noise sources)?
E. Be Objective
Many first-time home buyers let their emotions guide their decisions, but it's important to think logically. Consider whether this home truly meets your requirements. With plenty of houses available, take your time to make a choice, and ensure your agent shows you options that align with your budget and essential needs. Avoid making a hasty decision that you might regret later.
F. Be Thorough
Investing a little extra now can save you significant costs later on. Remember to consider these essentials:
01. Include inspection and mortgage contingencies in written offer.
02. Hire a professional inspector to evaluate the property.
03. Schedule a second walk-through within 24 hours of closing.
04. Ensure no un changes have been made, such as a valuable chandelier being replaced with a less ceiling light.
Are You Ready To
TO BUY A HOME?
You can trust your home buying decisions to Richard and the team at RICHM MGMT. With Richard's expertise and understanding, you will feel confident that you're making the best choice for you and family.
