Buying a home
Buy your home or property like a pro.
The decision to buy a home is one of the biggest you’ll make.
It’s important to take your time, prepare, do your homework and follow a process—whether you’re investing in your first home or your 10th.
To help you on your home buying journey, we put together a list of things to do and consider, which will set you up for success. If you have questions about the process or would like to speak to someone from our team, please don’t hesitate to contact us. We’re here to guide you!
Check your credit
Your credit score is critical to the home buying process. Before you start researching homes and engaging a real estate agent, it’s important that you check your credit score. It will impact the amount of money you can borrow, as well as your interest rate.
The major credit reporting bureaus are Equifax, Experian and TransUnion.
Gather your documents
Whether you save them in a manila folder or on your computer’s desktop, you’re going to need to have the following documents handy:
Pre-approval letter from your lender
Bank statements: checking, savings
Investment statements: 401k, IRA, stocks, bonds, life insurance, etc.
Tax statements going back 2 years
Income verification: check stubs
Spend conservatively
In the months leading up to your home purchase, avoid large purchases and new debt at all costs. You’ll want to avoid:
Buying or leasing a new car
Opening a line of credit
Opening a new credit card
Making a large purchase
Choose an agent
Buying a home can be a complex process, which is why you need expert support.
Look for a real estate agent who:
Works for a reputable brokerage that’s been in the market for several years
Has experience completing transactions similar to yours in size and scope
Knows the area(s) you want to live in
Can provide multiple client referrals
Communicates promptly
Is attentive to your needs
Most of all, makes you feel at ease
Do your research
Researching homes is the fun part, although the process can be overwhelming at times.
When researching, you need to know:
What area(s) you want to live in
Your maximum budget
Your must-haves
Your nice-to-haves
Your real estate agent can help you establish other criteria, taking into account school zones, property taxes, HOA dues and other factors that you might not think of.
Most home buyers like to do their own research, which we encourage! But we highly recommend that you rely on your agent, as she/he has access to the most up-to-date inventory—and may have access to listings that aren’t yet on the market.
Know the process
Once you’ve found your ideal home and nailed down an offer that the seller accepts, there’s still a lot of work to be done. Luckily, a great real estate agent will make the process smooth, simple and easy to understand.
After the seller accepts your offer, your agent will help you:
Secure financing (if you haven’t already done that with your lender)
Finalize the purchase agreement
Navigate all financial transactions
Schedule an appraisal
Schedule an inspection
Secure home insurance
Complete final negotiations
Secure your home’s title
Close on the purchase