The Ultimate Checklist When Buying A New House

Buying a new house is a time of excitement for the whole family. That’s because you’ll be settling into a new place and everyone will have a part to play in. While plenty of families feel the excitement, plenty of others are feeling scared. Well, we’re here to tell you that there is no need for that as we will be assisting you all the way.

So if you’re looking for the ultimate buyer’s checklist, this is the article for you. In this article, we will talk about everything you need to know when buying a new house. So with all that said, let’s start.

Get Your Finances in Check

First things first, every homebuyer should understand that this will be the biggest purchase you’ll make. Thus, it’s important to also understand that you’ll need to be in a strong financial position. To do that, you will have to evaluate how much you can take out for a loan.

This resource, FHA loan limits in California – Capstone Direct is a great starting point to ensuring your finances in check. Knowing the FHA loans available to you is important before moving to your budget.

Unless you happened to have $250,000 + just sitting around, you will need to take out a mortgage loan to buy your dream home. Considering that the median price for a home in the United States is $190,000, homebuyers will have to obtain that kind of money.

As always, your dream home will cost more or less depending on a lot of factors. The most influential ones include location and size. So the very first thing on your homebuyer’s checklist is to get your finances in check.

Always Go With A Budget

No doubt homebuyers have some idea of how much they can spend. To figure out the exact number, homebuyers will have to create a budget. By going with a budget, you are saving yourself from financial disaster. No doubt everyone wants to buy a home with a big garage for extra space, but do you have the money for it?

If you want to accommodate for a nice garage, then you will probably have to cut back on something else. But regardless, there is no point in looking at homes in the range of $350,000 when your budget is only suitable for used mobile homes for sale under $5000. Be realistic, you’ll be glad you did.

Get Pre-Approved

Once you’re positive your finances are in order and you’ve set out a budget, the logical next step on the homebuyer’s checklist is to get pre-approved for a mortgage loan. We discussed this one in a previous point, but we must elaborate further.

Whenever buying a new house, the seller will be more motivated to do business with you if you show them that you have the money to do business. Well, you don’t really have the money, but the bank has. So you need to show them that the bank has approved your mortgage loan application.

This tells the seller that you’re serious and mean business. Without getting a mortgage pre-approved, you will have a harder time convincing sellers to hold on to the property while finalizing the approval process. So a general rule of thumb is to always get pre-approved before going house shopping.

Find A Reliable Real Estate Agent

Many buyers debate whether or not going with a real estate agent is better or worse for their finances. While there are compelling arguments on both sides, most will recommend going with an agent. The real estate agent vs FSBO debate will always exist.

In the US, 86% of buyers go with a real estate agent. Unless 86% of people happened to be lied to, why is that a good thing? A real estate agent is an expert that knows how to buy your dream home. They know where to look for, how to negotiate, and everything related to the industry.

By going FSBO, it will take much more time to do all that. That is unless you happened to be an expert yourself. But even so, a real estate agent is there to take care of everything! All you need to do is like a house they recommend you.

Start Shopping

Once you’ve found a reliable real estate agent, the next step on the checklist, and the final one from us, is to start shopping for a new house. With the help of the agent, you’ll find your dream home in no time.

Pay attention to different neighborhoods for one that fits our lifestyle, also your internet needs. Be sure to compare the top internet providers in Los Angeles, CA and make sure the best one service the area you’re thinking of moving to. The same applies for all other service and amenities that are important to you.

Your agent will negotiate a fair price and after signing some paperwork, you’ll be all set to move into your dream home.

The home buying experience is made significantly easier with a real estate agent. Don’t do the obvious mistake of going FSBO as you’ll end up spending more than the average 3% agent fee.