Ready to buy a home?
One of the best decisions you'll ever make is to purchase a home. It's one thing that you definitely want to do your research on. After all, a home is the largest - and most emotional - investment most people will face in their lifetime. So, how do you know if it's the right time for you to buy?
There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances.
A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several key financial benefits - equity build up, value appreciation, automatic saving plan - not to mention a new sense of pride!
Start looking at your options today. You don't have to know everything. Your JLA Agent is ready to help you through every step of the process.
When you're looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, and your agent is your advocate to help you make your dream come true.
A great real estate agent will go over current conditions of the market and analyze what you want and what you need in your next home. Co-ordinate the work of other needed industry professionals throughout the process. he or she will guide you to homes that fit your criteria and budget. Negotiate on your behalf to get your the best deal possible. Make sure all required paperwork is fulled out correctly and done before deadlines. Discuss and suggest solutions to solve any problems that may arise.
To make the financing process as painless as possible, ask your agent to introduce you to the preferred lender. This professional will work with you and your agent to make sure the financial aspect of your home purchase is stress free.
Your lender will review your current financial status and discuss your options available to you during the home purchase process. He or she will guide you to the appropriate price point. Also your lender will negotiate on your behalf to get you the best deal. Examples would be interest rates, price and loan approvals. A great lender will keep you informed and updated of the entire financial process throughout your purchase.
FINDING THE RIGHT HOME
So you're ready to begin your home search. But how or where do you start? There are a lot of homes out there, and jumping in without a guide can become very overwhelming or confusing. Your JLA Agent will help you pinpoint homes that fit your requirements. The right home will meet all your important needs, and as many of your additional wants as possible.
Examples of questions you may ask yourself are;
- Do I need a large living space or small?
- Why would space be important to me?
- What requirements are crucial for me or my family?
- Is location more important than size of vice-versa?
- Am I looking for a new home, resale or a fixer upper?
- Do I want home value to appreciate quickly or at a more consistent pace?
- Is a master-planned community a priority or does country living suit me?
- Would highway access be important?
You get the idea, more questions will come as you narrow down your home search. This will result in a customized search designed especially for you.
Once you've decided on a home to purchase, the next step is deciding on a price. It's important to remember that a home is an investment. Your JLA Agent can provide you with the information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process. Most homes have a starting price which they call a list price. This will give you an idea of where the seller values his or her home. Your JLA Agent will do a market analysis to give you an idea if the price is comparable to what the market is dictating. You'll also want to see if there is any other improvements to the home that may affect the value.
Your JLA Agent will provide you with all the necessary information on your home choice. This way you'll know what you are getting into before you complete the purchase. Knowing what has to be done to the home or not is very important during the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction. That is why here at JLA we recommend getting an inspection with ever home purchase. That includes new builds as well. It will be money well spent.
REMAIN IN CONTROL
Once you've made up your mind on what to offer on the home, get excited! You're almost there! To ensure that you don't put the property purchase at risk, you have some responsibilities that you'll need to remember. Remain in control of your credit and finances - do not make any large purchases during this time. Your lender will remind you as well. It's important to keep your financials steady throughout the buying process. It is very important to stay in contact communication with your JLA Agent and lender during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. Your team is there to help you!
Before closing your lender will go over everything needed. Your JLA Agent will walk you through the home before you sign. Congratulations, and welcome home! Remember even though you have completed the purchase, your relationship with your JLA Agent doesn't need to end! After you buy, your agent will still help you. He or she will assist you with any of the following;
- Get information on the real estate market
- Find contractors and repair services
- Track your home's current value