As with any other shopping expedition, house hunting is no different. You’ll find the home gonest.com.au you want at the best price if you identify exactly what you want and do some research. You will find these 6 tips helpful when buying a home.
1. Decide what kind of new home you want.
Identify the type of home that suits your personality. What is your preference, a new home or an existing one? Do you want a ranch or a multistory house? Would you be able to fix up your own home, or would you need to hire a contractor?
2. Visit local markets and neighbourhoods.
The features you most want in a home should be listed and you should categorise them as necessities and extras. Consider commute time, schools, recreation, crime, and price when choosing a neighbourhood to live in. Get a sense of what is available in your preferred neighbourhood by browsing realtor.com. To narrow down the inventory of properties you’d like to see, use the results to prioritise your wants and needs.
3.Take care of your finances.
In general, lenders say you can afford a home priced two to three times your gross income. Determine what you are comfortable spending each month on housing by creating a budget. Investigate financing before making an offer on a home.
Obtain a prequalification letter from a lender that details how much you’re eligible to borrow. You will be considered by the lender regardless of whether you plan to start a family or buy a new car, so shop in a price range that you’re comfortable with. In addition, sellers will be less likely to accept your bid if it is contingent on financing.
4. Plan your timeline in advance.
How long will it take you to clear up any blemishes on your credit? Do you own a home already? Has your current home been sold? A timeframe for selling will be necessary if you don’t have one already. What is the end date of your lease if you rent? Is there any chance that interest rates will rise in the near future? You will need to factor these factors into your timeline for buying, closing, and moving.
5. Make Plans.
You may buy a home based on your future plans. What is your plan for the home, do you intend to move up in a couple of years or do you intend to stay in it for five to ten years? Expectations may need to be adjusted with a starter. Prioritise a home that you will still love a decade from now if you plan to nest.
6. Get in touch with a REALTOR®.
Find out who your trusted friends and family trust in the real estate business. Find an agent who is knowledgeable about the neighbourhoods and types of homes you are interested in. Consider an agent’s style if you are considering purchasing a home because it triggers so many emotions.
A buyer’s agent should also specialise in buyer representation. A buyers’ rep works exclusively for you, not the seller, even though they usually receive payment from the seller. Finally, ask whether the agent is a REALTOR®, which means they are a member of the NATIONAL ASSOCIATION OF REALTORS®. More than a century has passed since the NAR first championed homeownership rights.
