Where does the home buying process truly begin? Your first step should be finding out home much you can afford.
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If you're thinking about buying a home, your first step shouldn't be looking at homes online. There are a few reasons for this.
First, you could fall in love with a home and later find out that you can't afford it. Secondly, you might become discouraged if you don't find anything that you like, or you might even find out that you can afford more.
The first step in finding a home is finding out how much you can afford.
Naturally, the first step in finding a home is finding out how much you can afford. You want to be sure to talk to a lender (we actually recommend talking to at least three lenders) to see what they offer in terms of closing costs, interest rates, and the different financing packages you can use.
After you talk with a lender, they may actually tell you that you can afford more than you're comfortable with. Be sure to sit down and figure out with your lender what you're truly comfortable with. Even if you can afford a massive home, the higher payment might leave you in a bind and unable to spend your money on other things like vacations or other big expenses.
The next thing to focus on with your lender is actually becoming a qualified buyer. This means getting written documentation that says you're qualified to buy a home. When you make an offer on a home, you can present this letter to a buyer to show them that you're qualified, putting you in the best position to close the deal.
Finally, you need to speak with a real estate agent, of course. Remember that the seller pays the real estate commission, so make sure the agent represents you as a buyer at no expense.
If you have any questions or comments or you're thinking of buying or selling a home in the area market, give me a call or send me an email. I’d be happy to help!
