The home buying process in recent years has not been easy. The housing market took a bit of a hit across the United States, which has the plus of allowing great houses to go at low prices. But the fact remains that there is still a laundry list of things to think about before signing the deed for your new home.
Most places in the United States took a hit in the real estate market. There are plenty of sellers, but not so many buyers. This is only good news for home buyers, who will on average pay a whole lot less for a great family home than they would have five years ago. It can be a blessing in disguise, however, since it can be hard to narrow down a selection with so many good deals on the market.
Agents should be approached after you have the paperwork lined out for your mortgage. Agents don’t like doing business with couples or individuals who are only looking in good faith. That’s because the job market is in shambles, so lenders are now looking to only give out mortgages to exceptional credit accounts. Although a couple years of good credit history is fine, it can still be hard to prove to a lender that you are responsible enough to take on the great task of paying a loan back.
Persistence is the key when planning to buy a home in your budget. Real estate agents will push to get your budget as high as possible for several reasons. First, they will get a higher commission on homes with more value. In addition, clients are more likely to be pleased with a home that costs more, and thus, they like to show the best first even if it’s out of budget range.
Use the Internet to research your local listings. The Internet is an invaluable tool for home buying, since it allows you to look for a specific home in your neighborhood according to a set budget. Using these tools and key websites, you might not even have to use a real estate agent to find a great home to live in. This will save you money in real estate agent fees, but it will also require that you have the time to do paperwork yourself.
As always, approach the purchase with caution. Be careful not to make any impulse decisions so that you won’t end up with a house you aren’t ready for financially or as a family.
Best of luck in purchasing and finding your own home. If you need help, contact your local real estate agent or ask others who helped them with their plight.