Checklist to Find the Perfect Home
Let’s face it... finding the perfect home is straight-up daunting. Everyone talks about that great feeling that you have when you find the perfect place. Unfortunately, no one explains the steps to actually get there. Here at Northpoint, we have compiled a checklist to help you navigate the home buying process...
Set a Budget
The home buying process is a huge financial undertaking. Review where you stand financially before starting the search process. Review your income, debts, assets, and think about what you can realistically afford. Determine what amount you would be able to comfortably pay each month. If you feel you are not in the place you want to be financially, now does not have to be the time. Start to save and work towards getting yourself where you hope to be!
Get a Mortgage Pre-Approval
After setting a realistic budget, get a mortgage pre-approval. Find a loan officer you can trust. You can find a trusted team here. The mortgage pre-approval letter will provide you with your loan amount and interest rate. Now is the time to think about that budget you created... Mortgage pre-approval shows realtors and homeowners that you are serious about the home purchasing process! In today’s booming market a mortgage pre-approval shows homeowners you have the financial backing to afford their property. Taking this step can help when it is time to place an offer on your perfect home.
Envision Your Perfect Home
Onto the fun stuff... Dream a little, will you!? Picture your ideal home. Begin to think about the different categories that are important to you, such as:
● Neighborhood
● School District
● Commute time
● Age of home
● Size of home
● Backyard space
● Number of beds and baths
● Design features your desire; white cabinets, stainless steel, heated tiles, etc.
The list goes on and on. After thinking about this list, you will figure out what matters most. Educate yourself on the price of homes currently on the market with your desired features.
Differentiate Your Needs and Wants for Your Perfect Home
Revert to the list of your dream features in a home. Assign scores to the different features you are seeking. Assign the highest scores to the features you value most and vice versa for the least important. This will assist you when you begin searching as you will have a clear list of features that matter most to you. You can add up the scores of each home during your search process and see how they compare.
Have an Open Mind
Go into the home buying process with an open mind. This is easier said than done... but can save you money and headaches. Your list of necessities may change as the search continues...
Find a Realtor You Trust
A realtor should be used as a resource to help you navigate the home buying process. Be sure to find one who meets your needs. Ask friends and family for recommendations, read reviews online, and even schedule a meeting to see if personalities fit. Loan officers can be a good resource for finding a realtor. A realtor will explain the market, show you homes in different price ranges, and prepare your offer and potential counter-offers.