Buying a Home: Preparation is KEY!
Lining up your financing and knowing what you want are some of the keys to a successful home purchase negotiation.
There are still some buyers out there who do things backward. Now back in the days before the Internet, if you were thinking about buying a home, you might scan the classifieds, or go out and drive around to find the “For Sale” signs in the front yards in neighborhoods you thought you liked.
If you were smart however, you’d first contact your real estate professional and have him or her discuss your housing needs, desires, and budget before you even went out the door.
This is the BEST thing a home buyer could have done back then, and it’s STILL the best thing they can do today.
In this day of instant access to so much information about housing availability, buyers tend to forget that despite this, having a trained, experienced, real estate professional act as an advocate for your home purchase wants and needs. Occasionally we’ll still get that buyer who doesn’t want to come inside and talk first, they just want to hop in our car and head off to the first house they see.
This wastes everyone’s time. Not just ours, but the buyer’s as well.
You see, buying a home is unlike practically any other purchase you’ll make. First of all, before you even go out to preview your first home, do you know how much you can afford? Looking before you know what’s in your home-buying pocket book is putting the cart before the horse. First of all, you have no idea if the homes you are looking at will even fit in your budget. Also, sellers frown upon home purchase offers from unqualified buyers.
Get your money together.
First things first, talk to a home mortgage lender. They can pre-qualify you quickly based on information you provide them regarding your finances and your monthly commitments. To be clear, pre-qualification does NOT equal loan approval, but it at least gets your foot in the door and also gives you peace of mind that you are looking at homes within your price range.
Also, regarding financing, what type of money do you have set aside for your home purchase? Have you considered your good faith deposit? Are you aware of the closing costs? What about costs you’ll encounter during the escrow process that will come out of your pocket, such as the home inspection?
What exactly are you looking for in a home?
Finally, one more step before we begin to find you that dream home, we’ll sit down with you to discuss exactly what type of home you’re looking for. We’ll talk about the area(s) that you feel suits you best, we’ll talk bedrooms, home size, yard size, and your future plans regarding your home. The more we both know about what you’re looking for, the better we can narrow down your search, and get you into your dream home much more quickly.
We have over 25 years experience in the real estate business. As your real estate advocates, The Elgin & Pilar Walker Team will provide you with all the answers. Contact us for a no obligation consultation.
Elgin & Pilar Walker
Keller Williams VIP Properties
25124 Springfield Court Suite 100
Valencia CA 91355
Office: (661) 290-3781
Mobile: (661) 347-6248