The home buying process can seem overwhelming and stressful, but it doesn’t have to be. With the right information and some preparation, the process can go smoothly and without any hiccups. In our latest post, we sum it all up for you with our home buying checklist. We want to help you find and purchase your first home!
Home Buying Checklist in Snellville
Step 1: Get Financed
Before you start shopping, you will need to know how much home you will be able to buy. Shop around with a couple different lenders and see what is available to you. There are all sorts of programs out there, you can even find ways to get help with your down payment. Talk to friends who have recently purchased, and find out which lenders they used and how the experience was for them. Of course, In Snellville, Ga, every situation is different, but don’t be afraid to look around a bit at what the lenders are able to offer you.
When you work with a lender, you will need to know the down payment you are able to make. Do you have 20% for a conventional loan? Or the 3.5% for an FHA? Are you financially prepared to take on a mortgage, interest, insurance and property taxes? Some people might spread themselves too thin in an effort to get approved on paper. However, it is critical that you are honest with yourself here and stay within your means. Just because you are approved for a certain amount, doesn’t mean you need to spend it all. As a parent would say, “Make smart decisions.”
Once you know what you can afford, you can work with a lender to get approved. Most lenders will tell you what you need to do to get that approval. They can even help put together an action plan to help you reach your goals.
Step 2: Go Shopping
Do not simply look for listed homes, take a look at just recently Sold and Closed ones too. What can you truly get for your cash? Individuals can list homes for any price they choose. It does not mean they are actually selling at those prices.
Pay attention to the marketplace and yearly patterns. Bid with intelligence and be well-informed. Don’t be impulsive moves like that will wind up costing you down the road.
Before you make an offer, learn EXACTLY what is included with the house. Is the seller leaving any furnishings? What about the appliances? You can not assume they are all part of the sale unless you have it in writing. You wouldn’t want to learn on the day you relocate that you require to go purchase a fridge or washer and dryer.
You will want to ensure the seller has a house warranty in place to cover any major repair work that is needed over the next year or so. There is really no way to know when an internal component will fail, having a home warranty will give you some peace of mind
Have a professional home inspection done by a licensed home inspector. Once your assessment is done, speak to a licensed contractor about the cost of repairs if any are needed. All homes including often brand new homes have something that needs to be looked at and often repaired. Don’t let a home inspection scare you. You can take this to the seller to negotiate who will pay to fix the home or work the repair work into the last price
Action 3: Buy Your Dream Home
The majority of lending institutions you will work with require an appraisal on the home before they will let the financing go through. The house requires to satisfy their requirements in order for you to make the purchase. Once your investor has approved, you will wish to get in-depth closing costs and examine all associated costs.
Set up a final walkthrough, inspecting all switches, components, outlets, etc. (Some small things can be a sign of larger issues!) Last walk through test all components, switches, outlets faucets, etc
. When you are satisfied with everything, you are prepared to sign your contract.
Congratulations! It’s time to relocate! Snellville, Ga Welcomes you.