There are many steps to take when one is thinking about buying a house. In this article, I’m going to describe many of the steps that are necessary for buying a house. The first thing you need to decide when it comes to buying a home, is the reason for buying. There are many reasons why you want to buy a home. One reason for buying a home might be for your primary residence. Yet another reason for buying a home might be for an investment. You might also buy a home as a vacation property. So you can see there are many different reasons for buying a home. Once you decide the reason you are wanting to buy a house, then you have other decisions to make.
Besides deciding why you want to buy a house, you need to decide how long you plan on owning the property. Will this be your first time, or your last time you buy a house. Are you looking for a larger home, a smaller home, or a home in a different location. These are all things you need to decide. Once you’ve decided why you’re buying, and you’ve decided how long you are going to own the property, then you need to find out how much property you can buy.
When it comes to buying a home, and qualifying to buy a home, you need to have a good lender working for you. You have a choice to make at this point, you can find a lender on your own, or you can find the Realtor you plan on working with, and they will know a good lender. I believe that you should find a good Realtor, prior to looking for a lender. The reason I think the best way to go is to find a good Realtor before a good lander, is because you are going to rely on the Realtor to make sure you get the best home, the best terms, and the best price. When you find a Realtor that you’re comfortable working with, they will have a good working relationship with with a lender that they know and trust. If you find a lender first, and then go looking a Realtor. The Realtor may have reservations about the lender that you chose. This lender, Realtor, situation can create a problem in the complete working relationship necessary between the Realtor, lender, and you. So in my opinion, to avoid any problems that may arise as a conflict between parties, it is easier to choose a Realtor of your choice at this point.
Once you have the Realtor chosen, and you have spoken with the lender of choice, you will know the amount of home that you qualify to purchase. Now that you know, how much home you can afford, it’s time to decide about the particulars for the home you are buying. The things you need to decide now are, do you want to one story or two story. How big is the home going to be. How many bedrooms, do you need? How many bathrooms do you need? What type of floor plan are you looking for, do you want a great room floor plan, do you want a separate living room, family room, dining room floor plan. do you want a large yard, a small yard, desert landscaping, or grass landscape. How big of a home do you want, as far as square footage goes? How many spaces for a garage do you need, one,two, or three, or more? How big does the kitchen need to be? Do you want the pool? Do you want a spa? These are just a few of the questions that you need to ask yourself before you decide to tell your Realtor the type of home you are looking for. You can also talk to your Realtor about all these questions and decide together, what type of home you’re looking for. A good realtor, will help you decide all of the questions and concerns you have about your purchase.
Now that you’ve decided why you’re buying a house, and what type of house you want to buy, you need to the decide, where you want to buy. Do you need to be close to work or do you work from home. If you have children in school, the type of school district is going to be a key factor for you. When it comes to area there can be a very large price difference. In most cities, the closer you are to a desirable area, the more expensive the home and the farther away the homes become less expensive. So you could buy a larger house in a less desirable area or a smaller house in a more desirable area for about the same amount. In most major cities, there are smaller areas around the main city, and the home prices in these areas tend to be less. Let’s take the greater Phoenix area as an example. If you were to purchase a home in a desirable area of Phoenix, versus buying a home in one of the outer lying areas such as Queen Creek or Buckeye, there would be a large disparity between price and size of the house.
Now that you’ve decided the basic area that you’d like to live in and you know the price that you qualified to buy and you know, the basic size and layout of the home. Now it’s time to decide do you want to buy a home that you can fix up or do you want a home, that is move-in ready. There can also be a large difference in the price between homes in the same area and the same size, depending on the condition of the home. If you are handy with fixing properties and you have the proper financing in place. You can buy a home that needs repair, make the repairs, and build instant equity. If you are not very handy, can you afford to pay someone to do the repairs? You also might consider buying a home that is move in ready, and you can always decide later to do the repairs yourself or hire them to be done. All of this depends on the condition of the property at the time of purchase. The type of loan that you are getting to purchase the property is also going to be a factor. If you look at properties that are in need of repair. Check with your Realtor and lender to determine if you can purchase a property in need of repair. If the property you are purchasing is exactly what you want as far as the layout and the location but you don’t like paint the flooring, cabinets, the counter tops, or any of these type of items, you can always fix those after you purchase the property. You can either learn how to do them or you could pay for them to be done, as you can afford for them to be completed.
Now that you’ve decided everything necessary and found the perfect house for you it’s time to negotiate the best deal. This is why where it makes a difference on who you chose as your Realtor. If you made a wise choice. You’re going to get the best deal possible with the best terms possible. If you made the wrong choice. This is where you may start having problem. We will consider that you have made the best choice and that everything is going to work smooth from this point. Once you’ve negotiated the best contract with terms then you have to decide on whether you doing an inspection or not. I usually advise clients to have an inspection, no matter what the condition of the home simply to add peace of mind to the buyer as to the exact condition of the home. The cost of the inspection is minor compared to the problems that can come from something that was not noticed until after you own the property.
Once you’ve negotiated the best deal on your home, and you have done your inspection and you’ve made sure that you’ve provided the lender with all the necessary paperwork you also need to make sure that you don’t buy anything new. Don’t charge anything large on your credit cards, and whatever you do, don’t change jobs. Once you’ve closed on your home. Then you can go out and start buying furniture and our new car or any other items you want to spend money on. If you’ve been thinking about a new job. You can always get the new job after you’ve closed on the home. There are some situations where you could change jobs as long as it’s related to the same type of career field. But it’s always easier to just leave things as they are at the beginning of the loan process until you’ve closed on your home
Do some last minute tips for you to think about the first being the normal length of time to purchase a property. I have actually closed deals first visit to the home to moving in in 10 days. The normal length of time for the process is about 30 days. Some other items you need to consider, is making sure that you turn on the utilities in your name, that means the water the electricity and gas in the home has gas you need to plan on whether you are having movers or you’re doing it yourself. If you’re doing the move yourself then you will need a truck boxes and packing materials if you’re hiring movers then they will take care of all the necessary things to get you moved.
Well, we’ve come to the end of this article. I hope that it has been informative to you and that I’ve covered some things that will make it a little easier for you. When the time comes to decide on making the purchase of your next home. the things I’ve covered in this article are not all the things that you need to consider when purchasing a home. But they are a good start. My suggestion is still to contact a dedicated professional Realtor early on in the process of purchasing a property. It will make the whole process so much easier if you consider the fact that you will only make a few moves in your lifetime, and a Realtor makes a living helping people make home purchases every day. If I can be of further assistance to you, Please do not hesitate to contact me. I am always happy to help anyone in need of professional real estate help. I’m always happy to help anyone in need of professional real estate help. I hope you have a fantastic day, and that all your real estate transactions go smooth. Take care.
James Michael Swartz
Owner/Broker for Az Realty Results L.L.C