Because buying a home is an extremely important and costly venture, it’s a good idea to determine your wants, needs and the difference between them prior to beginning the buying process. Having a clear idea of what would be the perfect though practical home for you, or you and your family is vital. Keep in mind the distinction between what you absolutely need, what you merely “would love to have,” and the compromises you are willing to make in order to obtain one or the other. Is a large kitchen absolutely necessary, for example, because you have a growing or extended family or entertain a lot? Or can you sacrifice that for a smaller one if it means gaining a home office? Don’t wait until you are full steam ahead with your home search before you realize that you have fallen in love with a home, only to realize that it has only half the number of bedrooms you need.
Truly beginning at the beginning of the home search process means writing down the reasons why you want or need to look for a new home in the first place. Are you ready to start a family? If so, think twice about condos or townhomes. Do you have to downsize due to financial or other reasons? Maybe those condos or townhomes are just the ticket. Whatever your reasons, write them down. When considering a major purchase such as buying a home, you don’t want to get caught asking yourself “Why am I doing this?”
And once you’ve decided you are serious about buying a home you should contact Elizabeth Axelgard about home loan preapproval. Elizabeth will explain the steps you need to take, including the materials needed by the lender. She will even recommend a lender or lenders who might be a right fit for you and your specific situation.
With your preapproval letter in-hand, you are ready to find the home you would like to buy. As you might know, making an offer on a home is much more involved than most people realize. It should be done with the assistance of a highly qualified and experienced Realtor who knows local market values, the myriad elements of an offer, and the way to word the document for strength and legitimacy.
Of course, subsequent to your offer on a home, the seller has the opportunity to make a counter offer. This is where the negotiation skills and experience of a top veteran Realtor such as Elizabeth Axelgard are vital. Remember that once all elements of the home purchase agreement have been negotiated and agreed upon in writing by both you and seller, it becomes a legally binding home Purchase Agreement that will be in effect through the final act of your home purchase: the closing of escrow.
If you have questions or concerns about any of the information here, just click on the highlighted word related to your interest, then contact Elizabeth.