Whether youre a first time buyer, a repeat buyer, or a buyer coming from out-of-state, the more you know about the home buying process, the better. Out-of-state buyers might be surprised to learn that real estate transactions, and the laws that govern them, can vary significantly from state to state.
There are several steps that make up the home buying process, they include:
Determining Your Needs(below)
Obtaining Financing
Finding The Right Home
Closing The Transaction
Determining Your Needs:
Make a written list of your priorities, after consulting with family members, and share a copy with your Realtor. Consider area, schools, neighborhood amenities, preferred floor plans, commuting distance to work, pricerange, potential resale value, and special needs you might have (like nearby daycare or a home with wheelchair access). Newly constructed homes, previously owned homes, or fixer-upper properties each offer their own set of benefits, so think about what makes the most sense for you.
Once you have a basic idea of what you will be looking for, its time to do two things: Finding A Realtor and begin a careful financial analysis of what price home you can afford. Try our Mortgage Calculator for a quick estimate of monthly payments for any loan amount.
