Thinking About Buying?
On the surface, buying a home may seem like a relatively straigtforward process. However there are dozens of variables in any transaction that can make home-buying quite complex. Being prepared and organized makes the process that much easier and more enjoyable. Here are some steps to take before beginning your search:
- Ask yourself why you want to Buy a Home – To stop paying rent? To start building equity? To have a place of your own? To raise a family? To entertain business associates? To move up to a bigger house? Next, list what kind of home you’d like and where you would like to be. Be specific. Separate the “must haves” from the “want to haves.”
- Think of yourself as zeroing in on a target, going from the general to the specific. Consider area (city, suburban neighborhood, country); community (north, south, east, or west side); neighborhood (older and settled or sparkling new; a particular school zone; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work.
- Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home. Almost every home purchase involves some degree of compromise, which is why it is important to prioritize your wants and needs before you begin your search.
- Choose an Agent – Choosing an advisor to guide you through a transaction is as important as buying a home is serious business. While it’s important to ask potential agents a number of questions relating to their experience and routine, and to research their brokerage company, it’s also important to listen for the questions they ask you to get a feel for if they’re really intent on understanding your needs. Buying a home is a highly personal experience. Ultimately, you only work with one agent (or two in our case), so it should be someone you like, trust and respect and who feels the same way about you.
- Assess your Financial Sitution – For starters, use an online mortgage calculator to get a sense of your buying power and monthly mortgage payments. As a general rule, most experts say that your housing expenses should not exceed 28 percent of your gross monthly income, but a variety of factors – from your credit score to other debt – can open this ratio up to a pretty wide range. Remember that there are other costs involved in buying a home, such as moving, decorating and remodeling expenses. Knowing where you will come out of the transaction will give you a lot more confidence going in.
- Get Pre-Approved – In today’s home-buying environment, a mortgage pre-approval is essential. A mortgage pre-approval lets you know exactly what you can afford to buy. It also demonstrates to a seller that you are a willing and able buyer. And it gives you a head start in getting an actual loan commitment. Learn more about pre-approvals by visiting with one of our local lenders in the Grand Forks, ND, East Grand Forks, MN and surrounding area.
- Educate yourself about the Home-Buying Process – The more knowledge you have before entering the home-buying process, the easier and less intimidating it will be. Checking out the information on our website is a great place to start! All of the information in the Buying section of our website is specifically intended to meet the needs of home buyers such as yourself and we hope that you find it useful. You can also research all the Grand Forks, ND, East Grand Forks, MN and surrounding area MLS listings on this website with no obligation. Any properties you find on our website that you want more information on, please contact us directly and we’ll schedule a showing for you.
As your real estate team, we ensure that we will do two important things for you:
- Help you buy a home that matches your requirements;
- Make the process simple and easy.
Assisting you every step of the way, we’ll make the process of purchasing a home in the Grand Forks, ND, East Grand Forks, MN and surrounding area easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. We’ll help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and guide you through the myriad of details attending the actual purchase.
Ready to Get Started?
This website is packed with information that will answer many of your questions, and make your home buying journey easy.
When you’re ready to talk, please call, email or submit the form below.
Let’s work together to find your dream home!