Guide to Buying Your New Home

Buying Your New Home

Buying a new home is quite exciting yet daunting. You will need a dependable professional to walk you through the whole process or you might end up with a house you’d rather not have.

Six steps to buying the home you would love to call your own.

1.Find a reliable real estate agent

Look for a real estate agent who is very familiar with the county of your choice, providing you with all the necessary information, respect your decision and negotiate in your favor. A Northwest Indiana real estate agents has all the right answers to your questions and will guide you every step of the way.

Having a staunch ally in your real estate agent will make your house hunting experience much more pleasurable.

2.Be pre-qualified and pre-approved for mortgage credit

Knowing how much you can afford can narrow down your search for a new home. You would not want to be disheartened by falling in love with a particular house just to realize that it is way beyond what you can actually spend.

There are many types of lenders having different capacities. Choose one who has the ability to cater to your specific loan needs. Doing your own research on top of asking your real estate agent for referrals will direct you to a mortgage that suits you best.
Submit the required financial information to your mortgage banker or lender for review and assessment. This will have you pre-qualified and pre-approved for a mortgage. You can now determine the amount you can allocate to buying your new home.

3.Tour and view

Here comes the fun part! Start looking at homes within your price range. View as many homes as possible. Taking photos or videos would help you remember details you need to consider when finally deciding on one. Keep in mind t inspect thoroughly, never leaving out the basics:

● Check the electrical system
○ turn switches on and off
● try connecting device to electrical sockets
● Check the plumbing system
○ turn on faucets to determine water pressure
○ turn the shower on to see how efficient the heating system is
○ open and close cabinet doors, windows and doors
○ check the stairs – safety first
○ are there loose floorboards?
○ look for water stains on the ceiling

Indiana real estate agents

The location and neighborhood is a vital point of consideration. It is fundamental to evaluate these and decide based on:

● security and safety
● convenience and accessibility to public transport, schools, places of worship, etc.
● traffic conditions
● good maintenance of neighboring houses

4.Make an offer

When you find the home you want, work with your real estate agent to negotiate a fair offer. Their advice and negotiation skills can make a huge difference in owning your dream home.

5.Home inspection and appraisal

An exhaustive inspection of the house you’re interested in, checking for signs of structural damage, wear and tear, and things that need fixing is crucial. Again, your real estate agent can assist in arranging for an inspection which is conducted a few days after your offer has been accepted by the seller. This process is your protection in case there is a need to renegotiate or withdraw your offer without penalty in cases of significant structural or material damage.

An appraisal will be arranged by your mortgage lender. Appraisers provide an independent of the value of the property you are purchasing. An appraisal is your assurance that you are acquiring the house at a fair price.

6.Close the sale

After accomplishing and the signing of paperwork which your real estate agent and mortgage lender helped facilitate, the loan will be funded and the check delivered to the seller.

Finally, you are ready to move in!

Buying a house requires time, money and a lot of effort. You start to doubt yourself along the way and would not know how else to proceed. Fortunately, with a bit of help, you can turn your house-hunting woes into pure delight.