When you think about buying a home, chances are you imagine a stressful or challenging endeavor. Maybe you’ve heard horror stories from a friend, or maybe you’ve had a difficult experience in the past. Whatever the case, the good news is that with a little preparation and forethought, you can help take the pain out of the home buying process.
Here are some concrete things you can do to help make buying a home more enjoyable:
1.) Don’t set your expectations too high. Let’s face it. No one’s home search is going to be perfect. There are always going to be some setbacks along the way, such as a home not having all of your “must-haves”, or the sellers not budging on their price. But, if you go into the process setting realistic and attainable goals, you’re more likely to come out a happier and more satisfied home buyer.
2.) Keep your emotions in check. There inevitably will be times when you’ll get frustrated or overwhelmed. Just don’t let those feelings get the best of you. Stay calm and keep your sights locked on what you want to accomplish – finding a home that suits your needs.
3.) Find a real estate agent you’re comfortable with. You’ll want someone who is easy to talk to, good at listening to your needs, and who has knowledge of your desired neighborhood. An experienced realtor can help you find the perfect home, negotiate with the sellers, help you find a home inspector, and more.
4.) Get guidance from a mortgage specialist. Just as a realtor can guide you on your home search, a mortgage expert can help you through the somewhat intimidating process of applying for a home loan. And the earlier you can consult with a lending expert, the better. By reviewing your finances, a mortgage specialist can help you determine how much home you can afford, and can help you navigate the different kinds of mortgage products to find the right home loan for you.
5.) Get your documentation in order. When you apply for a mortgage, there are several documents you’ll need, including identification, bank statements, and proof of income. Your lender and your real estate agent can give you guidance on exactly what you’ll need to prepare. Having all of these materials organized and ready to go will help make the mortgage application process easier.
6.) Be patient. When buying a home, it’s very important not to rush things. For starters, patience plays a big role in negotiating price. Think about it. If you make an offer on the first day a home is on the market, chances are the seller is not going to be very flexible with the price. But, if that home sits on the market for a month, you could have a much easier time talking the price down. You also need to allow ample time for a thorough home inspection and appraisal, sufficient time to find the right mortgage product, and enough time to review your loan terms and sales contract.
Finding your dream home doesn’t have to be a nail-biting, cringeworthy experience. By combining these home buying tips with a positive attitude, your journey to home ownership can be a lot more pleasant than you think. Best of luck!