5-Step Plan for Buying a Home

When it comes to important life events, buying a home ranks at the top. Whether your family is growing, you want to move closer to a job, or the timing is simply right, buying real estate is a process that will be much easier if you are organized and have a plan. Having the right professionals by your side is key, and our REALTORS® are available to assist you. 

1. Financials First
   When you are serious about buying, get your financing in order. Your REALTOR® can recommend mortgage providers and provide you with direction on preparing to buy.
   
   Pre-approval is the first step to determining how much house you can afford. This will help you find homes in your price range that meet your criteria. You'll also need to have your down payment and closing costs in a liquid account. If your credit score and financial situation allow, there are mortgages available with very little down payment, but you'll still incur closing costs. The amount you have available for a down payment will also determine your interest rate and additional charges, like private mortgage insurance (PMI), which may be required if you put less than 20 percent down on a home.
   
   With a good understanding of how much house you can afford, it's time to move on to finding your dream home.
   
   
2. Get Specific 
   When you are purchasing a home, make a list that covers you "must haves." Your list will include number of bedrooms and bathrooms, as well as more specific parameters like neighborhoods, number of garage spaces, yard size, type of home (two-story, ranch, condo, duplex), and even your preferred style (Colonial, Modern, Contemporary, Traditional, etc.).
   
   Cressy & Everett has sales offices throughout Northern Indiana and Southwestern Michigan ready to assist you. When you preview homes online, you'll see other things you would like in your new home, and it's good to add them to the list. These might include hardwood flooring, a first-floor master suite, or outdoor living space.
   
   
3. Work with Your REALTOR®
   The best REALTORS® are intimately familiar with inventory on the market and are also good listeners, skilled at matching what you want with what is available on the market. Review your budget and your priority list with your real estate agent. They will locate homes that meet your criteria and schedule appointments to see them.
   
   
4. Be Willing to Put in the Time
   Your home is likely your largest single investment, so be prepared for the process to take time. Real estate agents are used to working evenings and weekends to accommodate busy schedules, but they are also masters at using time efficiently. They will quickly learn your likes and dislikes and help you hone in on the perfect property.
   
   
5. Meet All Deadlines and Obligations
   When you find the home you are looking for, your REALTOR® will take care of writing an offer and getting your new property under contract. Once a seller accepts your offer, you will have specific timelines for completing inspections and getting final bank approval to purchase. Make sure you follow through with all your obligations and meet all the deadlines.

There is a lot of planning that goes into buying a new home. When you're ready to buy a home or would like more information about the buying process, contact us for expert help and advice.