Critical Things You Must Do Before You Buy A Home
Buying a home can be a complicated and lengthy process, and it will cost you a significant amount of money too. That is why it’s vital that you lay the groundwork for the process to go as successfully as possible. The good news is you can find all the most important tasks to do before you buy, below. Keep reading to find out what they are.
Consider your needs and wants
Before you even go to look at homes, you need to have a clear list of what you need and want from your next property. This is because it’s incredibly easy to become swayed by emotions and convincing realtors once you are at a property, something that could leave you paying way more than you would like.
With this in mind, writing a list of the things you need and want from a home is the way to go about it. Add things that you cannot do without to the need column, for example, if you have three kids you will likely want at least 4 bedrooms. However, having 4 bathrooms may not be necessary, but would be nice. Therefore that can go on the want list. Then if you do happen to see a property that has everything you need, you can decide whether to compromise on the wants or carry on looking.
Also by deciding on the essential factors ahead of time you make it much easier for your real estate agent to find you properties that you will have a genuine interest in. This is something that can make the entire process a lot faster, and more effective.
Sort a mortgage
While many people leave securing a mortgage until they have found a property they like, it’s not advisable to do so. This is because it can take a great deal of time and effort to find the mortgage with the best rates and in the meantime, you could end up losing your dream home!
Instead, it’s a much better idea to get pre-approved for a mortgage. This means that you have done all the paperwork beforehand and have the loan in theory, then all that needs to happen is for it to be finalized and you can make an offer on a home.
Of course, there is a whole range of mortgages and mortgage lenders to choose from and it’s always worthwhile to explore and compare options before you sign on the dotted line. Indeed you may find that you get a better rate from an online provider or independent broker rather than going with what your bank offers.
Additionally, be sure to investigate any schemes set up to make buying a property or getting a mortgage easier. There is a variety of these to consider including VA mortgages offered by providers like 1st United Mortgage which is ideal for those with a poor credit rating, or without the capital to put down despite. Although, most schemes have specific entry requirements. For example, the VA loan scheme requires that one of the people buying the home be a veteran or in active service.
Get the lowdown on the neighborhood
A home is a huge investment, it’s also the place where you will spend the majority of your time, and that means researching the neighborhood in which you are about to live is essential. The good news is that, because of the internet, it’s easier to do this than ever before. Indeed, you can look up the facilities in your neighborhood easily, as well as get statistics on the local crime rate. You can even use apps like Nextdoor to check out what current residents are saying about living there and whether they have any particular concerns or nightmare neighbors.
You can even park up and take a walk around your neighborhood too. Indeed, this is often the very best way to get a sense of what a place is really like. Be sure to visit at different times of the day too, as some places feel fine in the day but become different once the sun goes down.
Work how your route to work
Finally, before you buy property you must take some time to work out your most common routes to work, to take the kids to school, and even the ride to the store. First of all, looking for the distance involved as too far or too close may not be ideal.
Secondly, remember to consider issues such as traffic, and the type of roads involved on the route. After all, some people are quite happy to drive in busy rush hour traffic, but others would rather avoid it. Just make sure that the route from your new home matches your personal preferences.