Steps to Buying a Home
8 STEPS TO BUYING A HOME
Step 1: Decide to Buy
The decision to purchase a home is one of the biggest and best choices you could ever make! After all,
a home is the largest investment most people will face in their lifetime. So, how do you know if it's the right time for you to buy?
There is never a wrong time to buy the right home. A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several financial benefits - equity build up, value appreciation, automatic savings plan - not to mention a new sense of pride!
So start looking at your home buying options today. You don't have to know everything because our Kind Realty Agents are here to help you through every step of the home buying process!
Step 2: Choose A Kind Realty Agent As Your Real Estate Professional
When you're looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, and Kind Realty Agents are your advocates to help make your dream come true. Real Estate is our passion and we will do whatever it takes to help you achieve the accomplishment of home ownership.
As your Real Estate Professional, a Kind Realty Agent will:
Educate you about the current conditions of the market.
Analyze what you want and need in your next home.
Guide you to homes that fit your criteria and budget.
Negotiate on your behalf to get you the best deal possible.
Coordinate the work of other needed professionals throughout the process.
Check and double-check paperwork and deadlines.
Inform, discuss and suggest solutions to solve any problems that may arise.
Step 3: Secure Your Financing
Before shopping for your new dream home, be sure to talk with a lender about what your buying power is. Kind Realty Agents work with several amazing lenders and will be happy to share their contact information. There are numerous different paths to real estate financing and a good lender will help you navigate a path that is the best fit for you. The lending professional will work with you to make sure the financial aspect of your home purchase is stress free.
Your Lending professional will:
Review your current financials.
Discuss the lending options available to you for your home purchase.
Guide you to an appropriate price point.
Negotiate on your behalf to get you the best deal on interest rates, assistance programs, loan approval and more.
Keep you informed and updated of the entire financial process throughout your purchase.
Step 4: Find Your Dream Home
After you have selected a Kind Realty Agent as your real estate professional and secured your financing, you're now ready to begin your home search. To start this process your Kind Realty Agent will email you a list of available homes based on your criteria. You will then select homes from the list and the house hunt will start! You might find your perfect home on the first outing or it might be on the 10th outing. Either way Kind Realty Agents are committed to helping you find the home that is right for you. The right home should meet all your important needs, and as many of your additional wants as possible.
Some questions to consider for the house hunt:
What features are crucial for you and your family? (split bedrooms, two living areas, attached garage, large yard, pool, etc.)
Would you be interested in a fixer-upper or a move-in ready home?
Is location and accessibility to main routes a priority?
You'll learn as we look at homes, your priorities will probably adjust along the way.
Step 5: Make an Offer
Once you've found a home you love, the next step is making a competitive offer. Your Kind Realty Agent will advise you on the key elements of the contract and ways to make your offer stand out.
Some things to consider with your contract:
List price – does it fit your budget and what should you offer?
Market Analysis – what are the neighborhood comps and can this home appraise for value?
Improvements – does this home need improvements and what will be the estimated improvement cost?
Competitive strategies – is this home in a multiple offer situation and what can be done to make my offer stand out (ie. personal letter, above list price offer, seller leaseback, short option period, etc.)
Step 6: Perform Due Diligence
Once the offer has been accepted by the seller and the contract has been executed by all parties, the due diligence process will start. During this process you will have a home inspection, negotiate repairs if needed and order the home appraisal. These due diligence steps are built in “safety nets” to make sure you know the condition of your investment and you don’t overpay for your home.
Step 7: Close
Once you've completed the due diligence process, you're in the "home" stretch! During this time period between due diligence and closing – you will finalize the financial arrangements with your lender. In order to ensure that you don't put the property purchase at risk, you have a couple responsibilities that you'll need to keep in mind:
Stay in control of your credit and finances - Do not make any large purchases during this time. It's important to keep your financials steady throughout the buying process. Talk to your financial consultant for guidance.
Keeping in touch with me and your financial consultant - It's important to stay in constant communication with me and your financial guide during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. We are here to help you!
This time period is also the time when the Title Company will take over facilitating the transaction. They will prepare documents and make sure the property has a free and clear title. When the day of closing comes, you will sign documents at the Title Company and will be given keys to your new home
Step 8: The Joys of Homeownership
Congratulations, and welcome home! The home-buying process is complete. Finally, the deal has closed and you are now a proud Homeowner! It’s time to start unpacking, painting, decorating and ENJOYING your new place. And remember, just because the sale is complete, your relationship with your Kind Realty Agent doesn't have to end! After you buy, your Kind Realty Agent can still help you by referring contractors and repair services, providing home maintenance tips, giving updates on the real estate market and even tracking your home's current value. A Kind Realty Agent will always be available to help you however they can!
Happy home-owning :)