Buying a new home can be ominous, especially if it’s your first time. Getting all the players in place and a little homework on your part, will make that experience enjoyable, and believe it or not, stress free. Here are a few ideas on achieving that.
Understand that there is no “right time” to buy. Guessing where the housing market will be in 3 or 6 months, or where interest rates will be in that time frame, doesn’t change fast enough to affect a buyer’s home price.
Plan for what’s about to happen. Get approved for your mortgage so you’ll know how much you can spend. A local lender is always a good idea as they know the local market. Many local lenders will even attend your closing so you understand every document you’re signing.
Don’t ask for too many opinions. It’s natural to want reassurance on such a big decision, but you can lose your focus on what’s important to you.
Accept that you’re not going to find the home that fits your entire checklist. Pick the top three must-haves, and let the rest go. Don’t get so driven about the physical aspects of the home when it may be just as important to be close to medical and other amenities.
Once you have an accepted offer, ask your Realtor® for a closing schedule. Over the next 45-60 days while the home is in escrow, you will want to know what is happening when regarding your loan status update, the inspection on your home, your response to that inspection, and getting all your utilities and essential services in place.
A home will always be a great investment. Do your homework, work with a Realtor® who over communicates and be flexible. It will make all the difference in the world.
Susan Cohen, Realtor®
Realty ONE Group Mountain Desert