Important Steps To Take When Buying A Home

Buying a home is a big commitment and you need to make sure you have all your bases covered when you make an investment of that magnitude. In this post, we’ll go over some of the major points you need to keep in mind when considering a home with a particular eye toward what you need to do when assessing a property. Obviously, there are a lot of financial concerns that go into buying a home that we won’t cover in too much depth, but that’s something you should have a good handle on before you take the following steps.

Important Steps To Take When Buying A Home:

Know What You Can Afford

Securing a loan and determining what type of mortgage you want are essential steps in buying a house, but in a more general sense, you need to be realistic about what you can afford before you start looking. Make sure to account for any work that you plan to have done on the house, as well as other affiliated costs like moving and new furniture. Most importantly, once you land on a figure that’s the maximum you’re willing to spend, stick to it! It’s very easy to go over your number when you start looking at houses and find that pushing the amount higher becomes more appealing as you see what’s out there.

Find A Realtor

A good realtor makes all the difference when you’re trying to find the right home. Do not use a realtor that also represents the seller since they tend to be less motivated to work on your behalf to find the right house at the best price. Ideally, you want a local realtor that knows the area and market backward and forward and has a proven track record. Don’t get locked into a binding contract with a realtor either as they can be less motivated to do their job since the commission is coming their way no matter when you buy, regardless of the work they put in. It’s perfectly acceptable to fire a realtor and choose a different one if you’re unsatisfied with the progress they’re making.

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Check Windows, Doors, Plumbing & Electrical

Once you start looking at homes and are seriously considering a couple of options, you’ll want to take stock of a few things, both inside and outside the house. When you do a walk through, make sure that all the windows and doors open and close without any issue and that they can be locked securely. Check all sinks and faucets to make sure that the plumbing is in good shape with appropriate water pressure and keep an eye for leaks and water that’s gathered around the floor. Flip on any light switches to check if there are any electrical issues. These may seem like minor things that won’t provide a lot of information, but you’d be surprised how many times one of these things is faulty and can be indicative of future problems.

Take Stock of the Neighborhood

The neighborhood your future home is in can tell you a lot about the long-term prospects of your investment. As the saying goes, location is everything when it comes to real estate and a well-kept neighborhood will most definitely have a positive impact on the value of your home. If the surrounding homes are run down and the yards are messy, it’s a reflection on all the properties in that area. Likewise, you want to make sure that the streets and sidewalks are in good condition, as well as any other parts of the neighborhood that the city needs to maintain.

Get A Home Inspection

It should go without saying that you’ll need a home inspection before making an offer on a house. It pays to do some research here, both in terms of how the appraisal process works and when looking for a good home inspector. Any oversight during the home inspection can be very problematic down the line, and more than likely costly for you. Just like when looking for a realtor, you want to seek out a home inspector that’s local and familiar with the area since they’ll be clued in as to what issues to look out for.