James E. Cumisky's Blog
When you decide that you want to buy a home, you probably hope it will all happen overnight for you. There’s some bad news though. It can take between 6 weeks and 6 months to buy a home! It could take even longer if you face a few roadblocks or inventory happens to be low in your area. There’s so many variables when it comes to getting a place to live that everyone has a different experience during their home buying process.
A Long Road
Even if you decide to buy a home today, and find a home you love tomorrow, there’s a bit of a “grace” period before you actually get to own the home. There’s many different steps that you’ll need to complete in order to successfully secure a home.
The first step that you need to complete when you want to buy a home is that of getting pre-approved. The lender will look at your debts, income, and credit history in order to get a complete financial snapshot of you. With this information, the lender will be able to tell you just how much house you can afford. This will be given to you in the form of a maximum loan amount. If your loan amount is $300,000, you can’t be shopping for $400,000 homes. The pre-approval process generally only takes a few days, but everyone’s circumstances are different.
Get An Agent
Before you even start on the house search, you’ll need to find a real estate agent who can help you on your home search and knows how to secure the home transaction. Do a little research on agents in your area. You can also ask around amongst your family and fiends to see if they have recommendations. Who you pick for your agent can have an impact on how smooth your home search process and transaction will be.
Start Searching For A Home
Start your home search online. With today’s technology, online home searches save those shopping for a home a lot of time. By simply looking at details and listing descriptions, you can narrow down the number of homes you‘d like to see in person. The online home search is a way to screen homes and eliminate the ones that you have no interest in.
It never hurts if you are driving around and see a “for sale” sign. You can take down the address and look it up later. If you’re interested, you can always set up an in-person showing with your realtor.
How Much Time Should You Expect To Spend?
When it comes to how long you’ll be searching for a home, you’ll need to be realistic. If you’re only doing casual weekend searches, it could take a bit more time than if you have a bit more flexibility in your schedule. Then, you have the final steps to look forward to which include:
- Mortgage underwriting
All of these final steps can take varying amounts of time from a few weeks to a few months to complete. Patience and diligence are indeed requirements when it comes to buying a home.
Want to own a house? Enter the real estate market today, and you can take the first step to make your homeownership dream come true.
Ultimately, there are many reasons to launch a home search sooner rather than later, and these include:
1. You can search for houses in cities and towns across the United States.
There is no shortage of top-notch homes available in cities and towns nationwide. Regardless of whether you want to live in a small town or a big city, you should have no trouble discovering a great residence at a price that you can afford.
Of course, it often helps to establish homebuying criteria prior to starting a home search. With homebuying criteria in hand, you can accelerate the homebuying journey and find your ideal residence faster than ever before.
2. Many home financing options are available.
Although you've always dreamed of owning a home, money might have been a problem. Lucky for you, banks and credit unions offer many home financing options to make it easy for anyone to purchase a residence.
Lenders are happy to meet with you, explain different mortgage options and respond to your mortgage concerns and questions. Then, once you review all of your mortgage options, you can make an informed home financing decision.
Also, it may be beneficial to get pre-approved for a mortgage. If you receive pre-approval for a mortgage, you'll know exactly how much you can spend on a house before you start a home search. Plus, you can tailor your home search based on your budget and speed up your quest to acquire your ideal home.
3. You can receive expert help throughout the homebuying journey.
One of the biggest challenges for a homebuyer is figuring out exactly what to do at each stage of the property buying journey. Fortunately, if you hire a real estate agent, you can receive comprehensive assistance as you go from homebuyer to homeowner.
A real estate agent understands the challenges associated with buying a house. As such, he or she will do everything possible to identify and address these challenges before they escalate.
Typically, a real estate agent will learn about you and your homebuying goals. He or she next will teach you about the local housing market and help you craft a homebuying strategy. And when you're ready, you and your real estate agent can work together to find your dream house.
After you discover your dream residence, your real estate agent will help you put together a competitive offer to purchase this house. If the offer is accepted, your real estate agent will help you navigate the final steps of the homebuying journey. Best of all, if you ever have homebuying concerns or questions, your real estate agent will respond to them immediately.
Take the guesswork out of finding and buying your ideal residence – reach out to a real estate agent today, and you can begin your quest to find your dream house.
When you’re shopping for a home, it’s essential to find a balance between being respectful of the owner’s privacy and being open enough that you ask the right questions and find out what you need to know about the home.
In today’s post, I’m going to cover all of the etiquette and best practices when it comes to viewing someone’s home that you’re interested in buying.
Before we get into the fine details of questions to ask and what areas are okay to explore, let’s take a minute to discuss the basic etiquette of entering someone’s home.
First, make sure you arrive on time and ready to tour the home. Being late will give the seller and their agent the perception that you might not be a serious buyer if you aren’t arriving at the showing on time.
Additionally, when you first enter the home, it’s a good idea to ask if you should take off your shoes. Some homeowners have a no-shoes-in-the-house policy that they extend to guests as well as friends and family. But, at the very least, make sure that your shoes are clean so you don’t track mud around the home.
In terms of cleanliness, make sure you dress appropriately for the showing and that you don’t bring in food or drinks. You don’t want to be dropping crumbs or spilling coffee in a home that is being kept meticulously clean for house showings.
Ask the right questions
As you are viewing the home, it’s appropriate to ask questions that may come up. Feel free to ask about the age of the home and when repairs and renovations were made.
It’s also fine to ask questions about the neighborhood and town if you’re unfamiliar with the area. Traffic and noise levels are pertinent information for any serious buyer. And these are questions that will be vital to understanding the home better and whether it’s a good fit for you at the moment.
Where can you snoop?
It’s a good idea to ask before opening cabinets, closets, and doors the first time. But these are all reasonable things to expect to be able to look inside of when buying a home.
It’s not a good idea, however, to look inside nightstands, dressers, and other compartments that are more private and personal.
If a homeowner or agent asks that you don’t enter a room entirely, such as a bedroom, bathroom, or basement, this is a major red flag that there’s an issue with the room in question. Every room of the home should be in-bounds when it comes to viewing a home that you might someday buy.
At the end of the viewing
Once the viewing is over, it’s best to simply compliment the home, offer your thanks for the tour, and head home to consider your experience.
Avoid making any sharp criticism of the home before leaving, and don’t mention any negotiations or ask questions about the pricing at this point. It’s better to leave on a positive note and have these discussions in private with your family before taking your offers to the seller.