Perhaps you’re taking the plunge after years of renting. Or maybe you’ve outgrown your first starter home, accepted a job in another state, or you are ready to downsize now that your family has left the nest.
Whatever your reason for house-hunting, these tips can help you prepare for the adventure ahead.
What It Takes To Buy A New Home
Create a plan. What do you need in your home? How many bedrooms? How many bathrooms? One-story or two? What about schools, grocery stores, and freeway access? Write down your preferences and talk candidly with your spouse or partner about one another’s preferences before you begin the house-hunting process; it will help you narrow down the prospects more quickly.
Figure out your budget. The bottom line is how much can you afford each month. You’ll need cash for a down payment, but you must also figure in your monthly mortgage, property taxes, insurance needs, homeowner association fees (if applicable, and utilities. Figure out your budget and stick with it.
Get pre-approved for a mortgage. Don’t guess how much you can afford; work with a lender or mortgage broker to know what kinds of mortgages you may qualify for and what the cost will be.
Location, location, location. As you begin your house-hunt, consider all of your lifestyle concerns. Is it in a good school district? How far will your daily commute be? Is it in an airport flight path or does it back up to a busy street? Do you prefer an age-restricted community or one with lots of kids? What about access to grocery stores, the library, church or a rec center?
Do some research. Use the Internet to look for houses for sale in the neighborhoods you prefer. Check out the Multiple Listing Service (MLS) for new homes. Drive through areas that you like to look at home for sale and take advantage of open houses. The more you research, the more knowledgeable questions you’ll ask the real estate agent when you’re ready.
Find a real estate agent you like and trust. Unless you feel fairly confident negotiating the intricacies of purchasing a home, a good real estate agent can help you navigate the house-hunting waters. Ask your family, friends and coworkers for a referral. Interview the agent and make sure you feel comfortable with his or her style. Make sure they know your budget and have homes in the price range you are seeking.
Bring checklists and cameras. After touring several homes, they may start to run together. Use a checklist that notes areas of importance to you like bedrooms and bathrooms, layout, yards, storage space, and more. Take pictures of the homes that meet your criteria (as long as the seller and/or real estate agent approve).
Ask questions. This could be your home for the next decade, so it’s important you find out as many details as possible. What are the monthly utility rates in the winter and summer? How old is the roof? Check out the age of the heating and air conditioning unit. What do property taxes and insurance run the current owner?
Trust but verify. When you’re touring a home you really like, check out the key functions. Turn on the shower to check the water pressure and the drainage system. Run a faucet to see how long it takes for the water to warm up. Flush the toilets, check out the sprinkler system, examine the cement foundation, and inquire about the gutters and drains. These will likely be tested during any future home inspections, but it’s good to have an idea before you fall in love with a house–let alone make an offer.
Get comfortable. House-hunting can be tiring, especially if you’re trying to see a number of homes in a short period of time. Wear comfortable shoes and clothes, leave younger children at home if possible, and bring water and snacks if you think it will be a long day.
Article provided by Aaron Seekford an Arlington VA real estate agent. You can learn more about Aaron by visiting his website where you have access to all Arlington Neighborhoods as well as Arlington Virginia real estate.