December 15, 2020
5 Home Buying Tips for a Stress-Free Purchase
Whether you are a first-time home buyer or have plenty of experience, the home buying process can be stressful. Luckily, there are several home buying tips that can help you have a seamless house purchase. Preparing a list of must-haves and getting pre-approved for a mortgage loan are just a few ways you can get through the process with fewer bumps in the road.
Are you ready to start your home search? Explore these home buying tips for first-time and seasoned buyers alike to start planning your stress-free purchase.
How To Minimize Your Home-Buying Stress
No matter how hard you try, some aspects of purchasing a home are simply beyond your control. However, taking concrete steps to counteract anxiety can help you manage your stress throughout the buying process. Follow these tips to help you get started:
Know What You Want
If you do not know what you want, you will spend a lot of time looking at houses that do not match your needs. Make a list of specific needs and share them with your agent. Being upfront about what you want can narrow down the number of listings viewed and speed up the home buying process. Examples of important things to consider include the number of bedrooms, square footage, distance to work, the school district and the preferred architectural style.
While you should not compromise on important requirements, you need to be able to let go of the small things. This means prioritizing your needs and determining which features you can do without. That also means choosing a house that checks most of the items on your checklist without obsessing over every small detail of your wants and needs.
Get Pre-Approved for a Mortgage Loan
Real estate professionals typically advise prospective home buyers to apply for pre-approval for a mortgage before bidding on a house. Getting pre-approved often makes the seller more confident that you will follow through with the purchase. They will also be more likely to negotiate and accept your offer. It could also help you win a bidding war where multiple buyers are putting in competitive offers.
Take Care of Your Finances
To get approved for a mortgage, you must be in a financial position to buy a house. This means paying off or consolidating debt to make it more manageable. This also means putting off major purchases right before your loan application and taking good care of your credit score. Additionally, you will need money for a down payment, as well as sufficient cash reserves to cover your expenses and any emergencies within the first few months of living in your new home.
Find a Real Estate Agent You Trust
An expert can guide you through the local housing market and help you find a house that matches your main criteria. They can use their connections to open up listings that you may otherwise not have access to. Agents can also recommend adding certain contingencies (conditions that should be met) on the purchase to protect your investment. When hiring an agent, make sure you pick one that will stick to your guidelines, stay on top of their showings and ultimately help land you the best deal.
Following these home buying tips can help simplify the process and get you into your dream home faster. Are you ready to find a new home in Texas? Explore Britton Homes’ available properties to find a luxurious new house suited to your unique lifestyle.