Your First Step- Get Pre-Qualified for Your Dream Home
The first thing people usually think about is finding their dream home. But, the best thing to do before you really start looking is to find out how much you can afford to spend. This way, once you have found your dream home you'll know that you qualify. Most banks, trust companies and credit unions will pre-approve you for a maximum mortgage amount without having a home in mind. Armed with this information, you'll know exactly what your price range is and you can begin the search for your dream home. Also, as your Realtor, I can help put you in touch with the right people to obtain your Pre-Approval at competitive interest rates. For more on-line information about qualification, check out my mortgage calculator. While getting pre-approved may sound daunting, it actually just involves getting an idea of what you can afford. When you're pre-approved, this means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you've found a home to purchase. For more on-line information about qualification, check out my mortgage calculator.
Pre-approval gives you substantial leverage: sellers immediately see you as a serious buyer. Not only will you know the exact price range you can afford, but you'll also be able to negotiate a better deal and move more quickly when you see a home you like. Depending upon market conditions, a seller may lean towards an unconditional offer, so you'll have less negotiating power if you have to wait for mortgage approval. Banks and financial institutions have developed many programs catered specifically to home buyers. Once you review your needs and objectives with a lender, you'll be one step closer to purchasing your home.
Step 2-Let Me Help You Find Your Dream Home
Develop a needs vs. wants list. Everyone has a picture of their ideal home. This home would include all the features you not only need, but have long desired. However, when it comes time to buying a home, these desired features constitute additional costs. While it's nice to think about having an artfully landscaped backyard, or built-in appliances, these are usually considered luxury items, which can add considerably to the price of your property.
Begin the list with items you absolutely need like adequate room, garage space and number of bedrooms. How much space do you really need? Does your situation require a one-level home, or are stairs acceptable? Basic needs should be considered first. After these have been established, you can consider additional features if you can manage these benefits financially. With such a list in your hands, you're less likely to be caught up in the excitement of the pursuit. You'll have a good idea of what you want, the features within your price range, and whether or not you can afford those additional items.
Step Three - Looking At Potential Dream Homes
The next step in buying is one of the most exciting. Once you have outlined what you are looking for in your new home, and you know exactly how much you qualify for, we will view properties that best meet your needs and wants. Generally, you will be shown between 4 and 6 properties at a time, which takes about 1 to 2 hours. I will book the showings during times that are most convenient for you, as your schedule allows.
Step Four - Writing An Offer
So you've found your dream home! Now here’s the important step of writing an offer. I will provide you with comparable sales information, help write the offer with the appropriate subject conditions (like financing, inspection, strata documents, etc.) and help negotiate the best possible price for you. You are close to owning your dream home! I will present your offer to the Seller and help get your offer accepted.
Step Five – Congratulations--enjoy Your Dream Home!
Your offer was accepted, you have removed all the subject conditions and you have signed the documents at your lawyer or notary’s--- you are now the proud owner of your dream home! Get ready to move in, get settled and enjoy your new purchase. Congratulations!
Let Me Help You Every Step Of the Way.
When purchasing a home, you are faced with a multitude of decisions. Finding that perfect home is not an easy task, and obtaining a mortgage loan can be a complex and tiring process. Once you've made the commitment to reach that home-purchasing goal, though, the rewards you can achieve are unquestionable.