Infloormation

If you’re thinking about buying a home, a little planning can reduce your frustration and make sure you have a good experience. Let’s take a look at some steps you can start with to make the process easier.

The best place to start is with money. To determine how much house you can afford, take two-steps. First: meet with a mortgage representative at your bank or a broker. You may want to get pre-approved for a mortgage. This makes you a more inviting buyer. The second step is to take a look at your own budget. Just because you qualify for a certain size mortgage you may not want to spend that much. Be sure to factor in all of your expenses.

Once you decide what you can afford, start putting the difference between that and your current home expenses into savings immediately. It will be a good test of whether that amount will work for you, and the savings will be useful when you move.

The next decision is the type of home. If you want a new house, visit all the builder models to see whose style suits your taste and how much you can afford. Also take a look at neighborhoods and locations. Be sure to factor in any association fees and upgrade expenses when looking at costs.

If you want a resale, start visiting open houses. This will help you understand what type and size of house you can afford and which neighborhoods appeal to you. This is also a good way to informally audition realtors. If possible, wait to engage a realtor until you have a good idea of what type of home you want and in which neighborhoods. This avoids wasting a realtor’s time as well as yours.

Finally, when you shop homes, look beyond cosmetics. Elements such as flooring, light fixtures and paint are easy to replace. Don’t walk away from a good home just because it doesn’t match your taste.