Buying a home can be an incredibly stressful and emotional process. There is a lot of planning and preparation that needs to happen before you close on your home. At times, the process can feel daunting and overwhelming. Luckily for you, we’re here to help you ease those home-buying jitters.
While details like paint color and decor are fun to envision, there are things prior to painting that need attention like calculating an affordable mortgage and picking your preferred insurance plan. Regardless of whether this is your first or fifth home, chances are, you’ve got questions, and as luck would have it, we’ve got answers.
Q: What are my first steps?
Before browsing any real estate sites or attending open houses, you should first determine your budget for your home as well as additional expenses like closing costs and taxes. Because a home is expensive, it’s never a good idea to sign any papers without consulting a mortgage lender. A mortgage lender can help you determine your budget, downpayment, and help you be aware of possible hidden costs that may arise before and during the home-buying process. To calculate an estimate of your potential monthly payments we recommend using a loan calculator. Additionally, to learn more about budgeting, check out our blog post about How to Budget for a Home. While knowing your budget and what exactly you’re looking for in a home is helpful, consulting with a trusted lender will help give you peace of mind knowing you’re staying within your budget, accounting for additional costs, and catering to your specific wants and needs. If you’re on the lookout for a trusted lender, we are happy to help connect you with one. For more information on finding a trusted mortgage lender, contact us.
After being financially approved for a mortgage, your next step is the pre-approval process.
Q: What is a Realtor and do I need one?
A Realtor is a real estate professional expertly trained in assisting buyers and sellers within the real estate market. Not only are Realtors an incredible resource for both buyers and sellers, but their experience and know-how can help prepare you for the intricacies of the housing market. With that being said, we highly recommend taking advantage of a Realtor when considering buying a home. As a buyer, here are some of the advantages Realtors provide you:
- Uncover information regarding the neighborhood.
- Find homes that match your budget and needs as soon as they hit the market.
- Assist in negotiating price, repairs, and other burdens.
- Interpret complex paperwork.
Q: Should I have the home inspected?
Of course! Getting a home inspection is like getting a check-up. Before buying your new home, you should check to make sure the home is in tip-top shape. An inspection can be used to confirm the home is in excellent shape, or uncover any hidden structural problems. That way, you won’t be surprised to find that the deck is NOT load-bearing when you have your annual summer pool party. Additionally, we highly recommend hiring a professional (or two) to conduct your inspection, that way you can be confident about your purchase. Currently, waiving inspections is common as it makes the buyer’s offer more appealing to the seller. However, we suggest consulting with a real estate agent to help you determine the best course of action for your home inspection.
Here are some pros to getting your home inspected:
- Prepare in advance for any major or minor repairs needed on the property.
- Identify potentially life-threatening issues like mold or faulty wiring.
- Lenders may not offer financing without an inspection.
Q: What questions should I ask before making an offer?
One of the best ways to clarify any lingering questions about the home is to ask your agent. Certain questions can also help you determine what leverage you have in the buying process. A motivated seller may be looking to sell quickly, which can help you spend less on your dream home. Additionally, like most purchases, it’s important to know what is included in the price. The same applies to a house! Ask your agent what is included in the purchase price. You may be surprised to hear what the seller is taking with them or leaving behind for you. This can help you prepare for additional in-home expenses like a washer and dryer or light fixtures. Here are few questions we recommend asking your agent:
- Why are they selling?
- How long has the house been on the market?
- Have there been any major repairs or renovations?
- What is included in the sale?
- Does anything need restoration or replacing?
Don’t let your home-buying concerns stop you from closing on your dream home. The Jeremy Ganse Team is here to help guide you through the buying process and help make purchasing a home stress-free. If you have any lingering questions, concerns, or want to learn more about purchasing a home, please visit our contact page or give our team a call at (717)-208-4240.
*Blog submitted from Jeremy Ganse, Realtor
Jeremy Ganse, Realtor
RE/MAX SmartHub Realty
930 Red Rose Court
Lancaster, PA 17601
717-208-4240 (Cell)
717-208-4444 (Office)
877-271-5520 (Toll free)
