To make the home buying process seem less daunting, we are breaking down each component into a digestible portion. Part I covered the process of aligning priorities and preparing for the financial responsibility. This part will detail how to begin searching for a home and reach the goal of closing on a home you love.
Step 4: Do Your Research
Sifting through home listings at this point becomes far more practical. You know you can eliminate homes outside your budget or lacking your required criteria. Start researching neighbourhoods that have a desirable location near schools, businesses or commuting options that work for your lifestyle.
Pay attention to recent sales as well as homes that do not quite fall into your range. The goal at this point is to get a perspective on the market as a starting reference point.
Step 5: Hire an Expert Real Estate Agent
A real estate agent’s expertise can inform you about little known listings or facts about certain areas. They can also help you when it comes time to negotiate. Best of all, their services come free upfront, since they are paid from the sale of the home.
Step 6: Start Making Viewing Appointments
With a healthy perspective and an agent at your side, you can start looking at desirable prospects within your price range and feature list. Be sure to view as many homes as possible to avoid an impulse decision. Even if the first home you set foot in is perfect, you may not know how perfect it is until you see your area’s other offerings.
Step 7: Narrow Down Your Choices and Decide on an Offer
Once you find several homes that fit the bill, you must settle on the one that fulfills your needs the most. Try to opt for the most practical and functional choice and avoid getting blindsided by amenities. A Jacuzzi tub in the master bath is certainly a great thing to have, but you may appreciate it less and less if the mortgage payments are squeezing your budget.
Step 8: Make a Contingency Offer
Choosing your intended home is no easy task, but once it is over you can work with your agent to come up with a competitive offer. The offer should include contingencies that protect you from making a poor or even an impossible investment. Common contingencies include a home inspection to spot deal breaking flaws and an appraisal to determine if the asking price is fair for the actual market value.
Step 9: Close and Move In
If the house checks out and the buyer accepts your offer, all you have to do is close the deal and start packing! We hope this guide helped give you a better overview of the Fleetwood real estate buying process.
Consult our buying page for even more help on finding a home you will cherish for years to come.