When you hear that newly listed home prices have increased by 32.6%, this might cause concern. You might wonder how you can find the right home for your needs, but also at a reasonable rate.
While buying your first home can seem overwhelming as it is, it can be difficult to figure out the timetable of everything. Read on to explore a short but helpful first time home buyer checklist!
1. Find a Realtor
You can check out companies such as Getaquote.com to check out insurance for your future home. Before you get to this point, you’ll want to find a realtor.
A realtor can teach you about the current market in your area and how to find a home within your budget. Realtors will also work with the seller to ensure that you get the best deal possible. Before you pick a realtor, it’s a good idea to check out their reviews online and see how much experience they have under their belt.
2. Determine Your Budget
It’s a good idea to check how much the average home is selling for in your area. Once you do this, you can determine a realistic budget.
Take a look at your current income, debt, and how much your budget will put you further into debt. You’ll also want to make sure that you have money leftover for repairs or other emergencies.
Take into account closing costs and how much money you’ll have for a down payment. Once you determine this, you can meet with a lender to get pre-approved.
3. Check Out Open Houses
Head to open houses in your area that you or your realtor can take you to. It’s also a good idea to think about your wants and needs when it comes to your future home. Be realistic about your needs and ensure that it’s within budget.
Check online to see what homes are for sale in your area. Drive through neighborhoods that you’re interested in and you might see for sale signs.
4. Submit Your Offer
Your home buying checklist includes submitting your offer to the seller. They can either accept, deny, or give you a counter-offer.
Once you agree on this amount, you can then have a home inspection performed. If there are any problems, you might be able to adjust the asking price of the seller.
The home appraisal value will also be part of it as well. Once all of this is done, you’ll be able to close on the sale in order to start first time homeownership!
Exploring a Checklist for the First Time Home Buyer
After exploring this checklist for the first time home buyer, you should have a better idea of what to expect when it comes to the buying process. Take your time marking each item off your list and before you know it you’ll have your new home!
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