Real Estate Tips: How to Find and Buy Your Dream Home
Looking for the perfect dream home is just as same as finding the ideal partner. The process may take longer, but when you find the right one, you’ll be happy to know that you’ll have someone who will support and understand you. After finding your dream home, you can enjoy the perfect place to relax and make memories for a long time.
It might feel overwhelming and stressful to find your dream house since it’s a life-changing decision. However, it’s actually easy and exciting when you know how to plan and involve some legwork, you’ll surely land into the home that was made for you. Here are the top 5 tips to consider when you’re looking for your dream home:
1. Get a Mortgage Pre-Approval FIRST!
It’s not a great idea to begin looking for homes when you are not yet pre-approved for your mortgage. If you already have a pre-approval, it would be easier for you to narrow down your search and start finding other criteria to match your wants and needs. You will find in the pre-approval letter the maximum loan amount you are approved for, so you’ll be able to get an idea of the maximum price point and budget immediately. After knowing what you’re approved for, you can start browsing houses and new home builders in your price range.
2. Learn About Your Finances
Aside from getting pre-approved, one of the first things to do is to get your finances in order for things to occur smoothly. You may want to order your credit report and credit score to check where you stand and to see errors so you can make improvements and pay your bills on time. Collect proof of income in the manner of W2s and paystubs. In addition, your available funds must be tallied for a down payment and closing costs.
3. Do Your Research
It’s important that you know where you want to live, whether downtown, uptown or out in the country. However, neighbourhoods can differ hugely, even in the same location. If you want to find the perfect fit for you and your family, it’s only necessary that you start doing your homework. Examine carefully all the online real estate listings you’re looking at and have an idea of the styles available in the place, review the neighbourhood’s walkability score and explore some review sites to check where you can get your late-night cravings.
But it’s not enough that you do your research online. You must visit the areas in person also, particularly if you’re relocating. We suggest that you spend a weekend walking or driving around several cases so you can experience the actual feel of the place you may possibly call home one day
4. Stay Within Your Budget
This is probably the most crucial tip for finding your dream home. You need to stick to your budget. You may feel super excited and get caught up looking for homes that are above your price to check what’s available on the market. However, be cautious because you are playing a dangerous game here.
You don’t want to end up falling in love with a house you can’t really afford and is far from your price range. So, take note of this and stick to the budget. No one wants to end up struggling because they purchased a house they can’t afford.
5. Try to Document Every Walkthrough
When you’re hunting for the ultimate dream house after house, the features that every house can begin to mix and create confusion of what house had the specific feature you’ve liked. If possible, you may take a quick shot of the for sale sign in front of the house and get some pictures of the areas you’ve loved. Whether it’s the walk-in closet that really strikes you or the view from the backyard that left you speechless. Whatever part of the house that called to you, capture a photo of it.
6. Consider the Future
Once you feel like you’re prepared to look for homes, try to see what works the most ideal for you in the present time and what will work best for you in the future. Preferably, you must plan on staying in your brand new home for the next five to seven years. When you do this, you are capable of paying down the mortgage and build equity.
A house would not be called a “perfect home” if it doesn’t grow with you. Do you have plans on having your own kids in the future? Think about getting an extra bedroom or two. Will you be working remotely? You might want to have a home office. Although you don’t want to overdo the house and think about buying a five-bedroom home when you’re single, make sure that you provide yourself with some room to grow.