Buying real estate is an exciting and scary endeavor for the first time home buyer. If this is your first home purchase or you are a seasoned real estate buyer, you will still experience much of the same thrill and fear. What most people don’t realize is how easy it really is to live the American dream. Now that you’ve made the decision to purchase a piece of property, there are a few steps that you should be aware of to properly plan for this life changing event.
First, sit down to calculate exactly how much you can afford. Assess your savings to see how much you have to put down on a house, and how much you feel comfortable making in monthly payments. Ideally you will consider getting pre-approved for a mortagage amount and a mortgage lender can help you go over all your finances to see how much you can qualify for. Take the advice from the mortgage lender with a grain of salt. While you may be able to afford $1500 monthly payments you may not feel comfortable with that number. You know your finances better than anyone so be sure that you crunch the numbers and end up paying what you know you can afford.
Next, make a list of what you are looking for in a home. From that list pick the most important features you are looking for. Do you need a big yard for your dog or kids? How important is square footage? Are you looking for a fixer upper or a house that has been completely redone? These are all questions that you need to answer in order for your real estate agent to narrow the search. Make sure to adhere to your standards, but don’t get excessively picky. Make a list of the top 20 criteria you want in a house and if 15 are met, you’ve probably found youself a great option to consider putting an offer on.
Set aside time to go out with your agent and look at properties. You may only look at a couple before you find the right house or you may have to spend a lot of time finding just the right location. When you have found that perfect house in your price range, it is time to make an offer. This can be one of the most nerve racking experiences of the house buying process. It’s important to try and step back from the situation and not feel too rushed. When you make an offer, the seller is going to accept your offer or they will counter offer. Don’t forget that you can negotiate just about anything in your offer, so don’t be afraid to include closing costs or new home improvements such as flooring, carpeting, fencing or painting. Your real estate agent will be able to guide you through all of the negotiations.
Great news! Your offer has been accepted! Now what? Now the house is turned over to the title company to complete all the paper work. Make sure to schedule a home inspection to be sure that nothing major is wrong with the property. If the inspection clears, make plans for closing day. The title company will schedule an appointment for you to come in and sign all the papers. After the sale has been recorded with the local government, you are the new owners, congratulations.
While buying a house can be an overwhelming experience, it is also extremely exciting. Make sure you get a great real estate agent to help you with everything from finding a mortgage broker to picking the title company. While you will go through an assortment of emotions, in the end it is worth it. Owning a home is the American dream. Why not make yours come true today? If you are in the Greenville, Grimesland, Winterville or Ayden North Carolina market area and are looking to purchase a home please give Rudy Schulte a call today at 252-717-5770. I am more than happy to answer all of your questions and would love to be your North Carolina real estate agent.