Are you considering buying a new house? Whether you’re a first-time homebuyer or an experienced buyer, it’s important to take the time to prepare and do your due diligence before making the move.
Here is a list of the top 10 things to do before buying a house:
1. Get pre-approved for a mortgage
This will give you a better idea of what you can afford and help you narrow down your search. For more information on mortgage options, here are a few useful articles: top questions to ask before getting a mortgage, best mortgage types, and bridge loans.
2. Determine your budget
Consider your current financial situation and think about how much you can realistically afford to spend on a new home.
If you’re worried about going over budget, use a mortgage calculator to figure out how much house you can afford based on the funds you have saved for a down payment. Here’s a link to a mortgage calculator from one of our preferred local lenders, Jennifer Queen.
3. Determine your must-haves and nice-to-haves
Make a list of the features that are most important to you in a new home and those that are nice, but not necessary.
4. Research neighborhoods
Consider the location of the home, as well as the surrounding neighborhood. Look at factors such as the quality of the schools, commute distance, and proximity to amenities.
5. Consider the size of the home
Think about how much space you need and the layout that would work best for you.
6. Think about the long term
Consider the potential resale value of the home and whether it will meet your needs for the next 5-10 years.
7. Get a home inspection
A home inspection can help to uncover any potential issues with the home before you make an offer.
8. Research the seller
Find out what is important to the Seller so you can best position yourself for negotiation.
9. Negotiate the price and terms
Work with your real estate agent to negotiate the best possible price and terms for the home.
10. Set up your services
This includes getting your insurance squared away, setting up all utilities, changing your driver’s license and setting up mail forwarding. If you’re in Southwest Florida, you might want to check out this handy list of phone numbers for local utility companies. (Don’t worry, if you buy or sell a home with us we will prepare the utility information for you!)
Buying a house is a big decision
But it can also be an exciting and fulfilling experience. As a real estate agent, it’s my job to help you navigate the process and find the perfect home for you and your family.
I hope this list is helpful as you prepare to buy a new home. If you have any further questions or would like additional guidance, just ask!