Purchasing a home can be both exciting and overwhelming for a first time homebuyer. And it’s no wonder: it will be one of the biggest purchases you make in your life. Knowing what to look for when buying a house will save you time and money, as well as provide peace of mind while shopping for a home.
One of the first and most important steps before buying a house is choosing which mortgage loan officer to team up with to get you your dream home. Obtaining direct lender loans will save you time and money when shopping for a home. Direct mortgage lenders can streamline the process, along with offer better mortgage rates than traditional mortgage brokers. We encourage you to compare mortgage rates and see for yourself how a direct mortgage lender can help you.
Discussing lending options and different types of loans will ensure you get the perfect loan for your situation. Acquiring a pre-approval letter from your lender gets you one step closer to becoming a new homeowner. After being pre-approved and having a better understanding of what your budget is, using mortgage calculators will help you understand just how much each potential house you are looking at will cost monthly. Along with the logistics, here’s what to know when buying a house.
Size and Price
Whether it be a condo downtown, a cute home with tree-lined streets or a house in the country, house hunting and knowing what to look for when buying a house can be stressful. One of the two main things to consider are the type of home you want and the price you are willing to pay.
Make sure the size is right, not only for now but for the future as well. Does the home meet your lifestyle requirements? Are there some must-haves regarding how many rooms you prefer or the size of the kitchen? When it comes to what to look for when buying a house, consider your current situation and think about how you plan to use the home. Also consider the price you are willing to pay and find the balance between wants, needs and cost.
Location
We’ve all heard the saying: “Location, location, location.” And until you purchase a home, it’s just a saying. Choosing your new home’s location is just as important as the house itself. Do you need to be downtown for work? Is there a specific school district you have in mind? Are you trying to stay close to friends and family?
No matter the reason, choosing your home’s location is an important step in becoming a happy homeowner. The location of a home can not only change the price of a home and its property taxes but the appreciation rate and the home’s worth when it comes time to sell.
Realtor and Lender
Before buying, choosing who will represent you can make all the difference. Partnering with a highly educated real estate professional can be the difference between thousands of dollars in your pocket or money spent on additional fees. A seasoned real estate agent can help you navigate around the common pitfalls of shopping for a home. Educated agents can spot issues that, when excited about looking at a home for the first time, you may not notice at all. This can save you years of headaches and countless amounts of money.
Such professionals are familiar with digitally-driven lenders who offer cutting-edge services to their clients such as an appraisal waiver, making the process of inspecting and appraising a house much easier than years past. Because of this, when it comes to what to look for when buying a house, start with looking for the best realtor and lender.
Now that you know what to look for when buying a house, check out the current mortgage rates and mortgage refinance rates to start the process today.
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