Buying a home can be an overwhelming process, whether it is your first time or you have been down this road before. This is likely the largest financial investment you will ever make and something you will only do a few times in your life. From financing to negotiations to inspections through to closing, there are a lot of moving parts that need to be navigated. Having an experienced real estate agent to guide you through each step of the process and offer sound advice will ensure that you’ll not only end up with a great home, but you’ll also ideally have a great experience and maybe even some fun with it! Just because you could potentially do it on your own does not been you should. Just like a great accountant or a great dentist has knowledge and experience to help you that you do not have on your own, a great real estate will offer invaluable insight, so finding one that is a good fit for you should be the very first step in the process. Reach out to us anytime to see if the Karrie Gavin Group is the right fit for you as you embark on this exciting journey! Among many other things, here are some of the key areas that we can help you with:
Getting pre-approved by a lender
We can connect you with experienced and creative lenders to help you figure out the best financing strategy for your particular situation and to be sure that you understand what monthly payment and down payment requirements and closing costs you can afford, and that you are comfortable with.
Choosing a home
For most buyers, choosing a home is an emotional process and one that often has to be made within a relatively short time frame. An agent can assist you in this process by offering objective information about the homes and helping you make the best decision for your needs, from local community information like schools and zoning to home-specific details like condition and amenities.
Making an offer
Once you’ve found the home of your dreams, an agent will research recent comparable sales of similar homes, market conditions, and a variety of other factors to help determine the best offer to get you the best deal possible, while also giving you a strong chance of winning in today's competitive market.
Closing, or settlement, can be a complicated process and a real estate agent can help ensure that everything goes smoothly from inspections to title searches to appraisal to homeowners insurance.
Before you begin your search for the perfect property, here are a few questions you should start to think about. If you are not very familiar with the process, the area, or financing, you can certainly lean on a great agent to help you figure these things out as well!
What do I want?
Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, it is a good idea to list out and prioritize your needs before you begin your search.
What can I afford?
The general rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. An alternate rule states that you can afford to buy a property that runs about two-and-a-half times your annual salary. For a more tailored look at what you can afford, use an online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.
Am I financially prepared?
A few months before you start searching for a home, review your credit history and make sure it is in good standing. Get copies of your credit report, ensure that it’s accurate, and fix any issues you discover. You’ll also want to get pre-approved for a home loan, which will put you in a better position to make a serious offer once you find the right property. Pre-approval from a lender is based on your credit history, debt, and income, and it can be helpful to use a lender that your real estate agent knows and trusts to be sure you are in the best hands.