Are you ready to purchase your first home? By now, you probably already know that buying a house is a big decision. With it comes a lot of research and knowledge of the housing industry.
You’ll need to understand the difference between a buyer’s market and a seller’s market. What are the best interest rates and the different mortgage terms? You’ll also need to know the various types of mortgages and how they will impact your monthly mortgage payment.
The process of buying a house is more accessible and enjoyable if you know what to check for before starting your house search. Keep reading to learn what items to check for before purchasing your new home.
You’ll Need a Good Realtor When Buying a House
When you decide to buy a home officially, start researching the best realtors in your area. Ask friends and family for recommendations.
A realtor will bring expertise in the real estate market. The person you choose will also have contacts for mortgage brokers, home inspectors, and more.
They can also help you get a title report before committing to buying a house.
First-time Home Buyer’s Program
First-time home buyer programs are an excellent tool for someone buying their first home. You’ll learn the complete process of buying a house.
The instructor will supply a checklist for buying a house. Important milestones include getting a credit report and working with creditors to remove collections and delinquencies.
The best part of these programs is the down payment assistance you can receive.
Neighborhoods to Search
Make a list of what’s important to you in a house. Include the price range, type of house, and the neighborhoods you would like to live in.
After narrowing down your search, visit the neighborhoods to observe traffic, the residents, and activity during the daytime, at night, and on the weekends.
New vs. Existing Home
If you live in an area with new construction, decide if you want a new construction home or an existing home. Your choice could impact the mortgage process and the timing to close and move in.
The Rating for Schools
Homebuyers with children will want to check out the zoned schools. What are the ratings, and do they offer special programs?
Amenities Within a One Mile Radius
Owning a home is not the only priority. You want to live in an area that has the things you enjoy. Restaurants, grocers, pharmacies, and entertainment should be within a one to two-mile radius of your home.
Access to major roadways and the interstate are also important items on your checklist for buying a house.
It’s Time to Go House Hunting
Now that you know what to look for when busing a house, it’s time to start house hunting. Tell your realtor what you’re looking to buy, and they can help narrow down the search.
Did you enjoy this article? If you chose a property in need of some TLC, check out our home improvement section for trending ideas.