Quick Tips to Buying a Home

By Roni G. — Published February 07, 2018

Quick Tips to Buying a Home

You are planning to buy a new home and, especially if it is your first time, it can be very exciting. However, buying a home takes a lot of care and attention to detail. Knowing what to expect and what you need to look out for can be very helpful when buying a home. Here are a few quick tips to help you when buying a home.

Tips to buying a home

1. Have a good credit score
Even before you start looking for a home, you need to be sure that you will qualify for a loan. The best way to be eligible for a loan is to have a good credit score. You could use an online tool to calculate your credit and look up ways to improve your score if required.

2. Get your loan pre-approved
This is another important step that you should have in place even before you start exploring the market. Contact a lender and first get a loan pre-approved. Once you know how much the loan amount is, you know your budget and you can base your search according to that.

3. The neighborhood
There is no point finding a home you like in a neighborhood that you are not happy with. You can’t avoid your surroundings forever and in the long run, if you are not happy in the area you are living in, buying the house would have been a waste. Find a neighborhood you really like and would be happy to live in and then proceed with looking for a home to buy in that neighborhood.

4. Be clear on the property boundaries
Whether knowingly or unknowingly, the previous owner could have been encroaching on the neighbor’s property. If you have found a property you like, have it surveyed to make sure that the boundaries are clear. By doing this, you will not only avoid having to deal with a dispute at a later date but this could also affect the cost and property tax.

5. Home inspection
It is imperative that you have a home inspection before you pay for the house. While you might have to spend a bit more money to hire an inspector, you will end up saving money in the long run. A home inspector will help uncover faults and defects in the structure which you could use to negotiate for a lower price on the house. Alternatively, you could ask the previous owner to do all the repairs before you buy the place. If an inspection shows that the house is not worth buying in the first place, you will be spared a lot of time, money, and heartbreak.

6. Negotiate
Don’t be so eager to buy that you go with whatever price the seller quotes. You are entitled to put forward your own price and try and negotiate a deal. What you should do is propose a realistic figure which is not too low but also something that you can afford comfortably. Doing a bit of market research and knowing the going rates of similar types of homes in the area will give you a good idea of how much you can quote when negotiating a good deal.

7. Hire an agent
Buying a home can be a lot of work, and sometimes, it could help to hire a professional. Hiring a real estate agent to look up houses for you and to help you negotiate a good deal could take a load off. An experienced real estate agent can give you a wider range of options bettering your chances of finding a home that suits you.

Congratulations on your decision to buy a new home! Make sure to follow these guidelines to make the

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