At times, locating the right home for you and your family can take several months. However, too often home buyers pass on a perfectly good home that checks off many of their wants and needs simply because it happened too fast.
Real estate experts will tell you – you never know when the right house will present itself. The key is to be ready to make an educated decision should that happen sooner than you anticipated.
So, what can buyers do to gain the knowledge they need before they begin their search? Here are two critical steps in the home buying process:
- Select a lending partner you are comfortable with and allow him or her to take you through the full loan approval process. That is, make sure a thorough review of your income, assets, and credit history is done to ensure that you are well qualified for the loan you will need to purchase your new home. Nothing is more frustrating than locating the right house only to find out it’s outside your qualifying range and/or household budget. Having this knowledge will provide you with the confidence to make an offer knowing the loan you need is nearly guaranteed.
- Location, school districts, taxes, commuting times, neighborhood trends, actual home value vs listing price -these are all things you should know when you begin your home search. Not only will this knowledge help you to narrow your search, it will allow you to move quickly knowing the home is in an area that’s right for you. Selecting the right real estate agent is critical to this step in the process as you can rely on their expertise and experience to help guide you in the right direction.
In a world of internet research, sometimes GTS (Google That Stuff), is not enough. Selecting the right lender and real estate agent to add to your home buying team can make all the difference….and allow you to be miles ahead of your competition. Knowledge is indeed power!
About the Author:
This article was provided by Mywayhome member, Neda Yarnall – Real Estate Broker/Salesperson with Re/Max Select, Westfield, NJ. Neda is available for questions or comments at nedayarnall@gmail.com or by cell 908.892.3447.