So You Want To Buy A House
September 18, 2012
So you want to buy a house. You have read and heard the media hype the historically low interest rates. You have followed the decline of the prices of homes in your market area. You have read that right now mortgage payments can be lower than the rent you might have to pay. You have a steady job. So how to begin the home buying process?
Many prospective home buyers start by looking on line at the various home listing sights such as Realtor.com, Century 21 .com, Trulia.com, etc.Many start by visiting open houses. here are a few suggestions for preparing to buy a home.
1) Actually write down a list of your wants and needs. Describe in writing what your dream house might look like.
2) Make an appointment with a lender and get yourself "pre-approved". Not just "pre qualified" but actually "pre approved". This means that the loan rep will have taken an application and have run your credit complete with FICO scores. (In today's real estate market, sellers generally want copies of credit scores and "pre approval" letters before they will consider any offers.)
3) Select a real estate agent and give them the information about the property you will be looking for to purchase. Searching on line is useful, but agents sometimes hear of a new listing before it shows up on any web site. Be prepared to view a property at the earliest possible moment once an agent calls about a new listing.
4) Recognize that you may have to make compromises on what you want, but also be fully aware of what characteristics are most important.
The home buying process can be stressful, but home owning can be very satisfying.
So you want to buy a house. You have read and heard the media hype the historically low interest rates. You have followed the decline of the prices of homes in your market area. You have read that right now mortgage payments can be lower than the rent you might have to pay. You have a steady job. So how to begin the home buying process?
Many prospective home buyers start by looking on line at the various home listing sights such as Realtor.com, Century 21 .com, Trulia.com, etc.Many start by visiting open houses. here are a few suggestions for preparing to buy a home.
1) Actually write down a list of your wants and needs. Describe in writing what your dream house might look like.
2) Make an appointment with a lender and get yourself "pre-approved". Not just "pre qualified" but actually "pre approved". This means that the loan rep will have taken an application and have run your credit complete with FICO scores. (In today's real estate market, sellers generally want copies of credit scores and "pre approval" letters before they will consider any offers.)
3) Select a real estate agent and give them the information about the property you will be looking for to purchase. Searching on line is useful, but agents sometimes hear of a new listing before it shows up on any web site. Be prepared to view a property at the earliest possible moment once an agent calls about a new listing.
4) Recognize that you may have to make compromises on what you want, but also be fully aware of what characteristics are most important.
The home buying process can be stressful, but home owning can be very satisfying.
posted by shirley harry at 8:52 AM
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