Before you start looking at homes, you need to meet with a lender and get pre-approved for a mortgage loan. Through that process, you’ll discover how much you can afford to spend on a home so that you don’t waste time looking at properties that are out of your price range. Before you decide to spend the full amount of money that the lender is willing to loan you, calculate a budget that includes all of your expenses and figure out how much you can afford to spend each month on a mortgage without stretching yourself too thin.
Give yourself plenty of time to find the right home. You can’t control the market, and if you only give yourself a few weeks to find a property, you might end up making hasty decisions that you’ll regret later. The average closing takes between 30 and 45 days, so be realistic and give yourself enough time for house hunting and the completion of the financial process.
Knowing what you want is also important if you want to reduce the stress of searching for a home. While it might seem like a good idea to keep your options open, having a solid idea of the features that you want in a home will allow you to get a good start on your home search. Make a list of must-haves, would-likes, and cannot-dos, and share that list with your real estate agent at the beginning of the search so that he or she can help you find your ideal home quickly.
Buying a home is probably one of the biggest and most important financial decisions you will make in your life, and you need to make sure that you have the right real estate professional working with you to help you through it. Find an agent who answers your calls and emails promptly and who really seems to have your best interests at heart.
Familiarize yourself with the real estate process and know what you want, how much you can afford, and how long you have to find it. That – in combination with the aid of a dedicated real estate professional — will reduce the number of surprises and amount of stress along the way.
For information about buying and selling a home in Moore County, call a member of The Home Team NC at 910-684-3339 or email us at [email protected]. For daily tips and helpful real estate information, Like and Follow us on Facebook: The Home Team NC.