Things that are quite hard to comprehend when you are a first time home buyer: reading and understanding contracts, knowing interest rates, applying for a loan, and packing all of your things. But acquiring your first home means there is more to do and understand. Purchasing a house is a long process and will take some time before having a final decision.
Planning to buy your first home in Seattle? Then think of a mortgage, loan, finding a home, and knowing the costs. Here are some tips to ensure that your home purchase will be a successful one:
Keep your expectations reasonable
Most of the time, homebuyers tend to look for a home and have too many requests, which is fine as long as they are aware of the differences between the expectations from the realities. Sometimes the photos of listed houses that are shown online are the best ones and may somehow look a bit different from the real ones. Even homes that are recently constructed would not look as perfect as the ones advertised. Prepare yourself to walk through a house and find issues that you should tell your real estate agent right away.
Know your area
Various cities are different when it comes to practicality and safety. Do your research on your preferred area. Know how far the house is from the school, grocery store, hospital, or public parks, and as well as your desired commute time. Researching and knowing the area may also affect your budget since property taxes would depend on the location. Know and understand which aspects can be compromised and which ones you cannot live without.
Talk to a broker
Once you have decided on which house you want to buy, talk to a broker. He will have to work with you and your real estate agent from offering a deal to closing it. Your real estate agent will help you decide on the price of the house that you would want to purchase; then, your broker will be the one to do the final checks. He will be the one to inform you whether you have been approved or not for the amount of money that the house will cost considering property taxes, etc.
Request for an inspection
Some issues may only be discovered during an inspection. Although most inspectors will not require you to be there during the appointment, it is recommended to attend to at least have another look at the house before buying it. Once the inspection is done, review it with your real estate agent to know which ones need repairs that you will have to request from the seller. However, if there are big problems that the seller will not agree on fixing, you can request a lower scale price.
Schedule your closing
You have already given the title company the needed money for your purchasing. During the closing of the deal, you will be responsible for the down payment and other costs. Keep in mind that title companies only accept payments from a cashier’s check or a wire transfer. Now, it is time to sign all of the needed paperwork and be the proper owner of your new home. The title company will supply you with copies of all documents for your records during the closing process. This should be signed and have been documented well before endorsing it to you.
Now that you have purchased your new home, you can now settle in, relax and enjoy your new beautiful home!