Home Buying Tips – Searching for that Dream Home


Here are some tips to consider while searching for your dream home:

First Things First. How Much Home Can You Afford?
Most people need to finance a home purchase and require a mortgage loan. You need to understand the different types of home mortgage loans available and which type of loan best fits your situation.

Your Mortgage Loan Officer will be able to establish how much home you can afford and how to budget for insurance and other costs.

Funds for Down Payment and More
You will need to set aside money to make a down payment as well as have funds available for other needs such as closing costs.

Value the Knowledge of Your Real Estate Agent
Your agent will be your guide to making a good decision with your home purchase. That professional will:

  •  Inform you of new homes on the market
  • Schedule personal home showings and tour homes with you, as well as give you detailed information about those homes
  • Prepare home market analysis of the area you are interested in
  • Provide negotiating skills when it comes time to make an offer and write a contract
  • Guide you through the entire purchasing process from home showings to the closing table

Where Do You Want to Live?
You will need to do research on where you want to live and what neighborhood amenities are important to you. Do you need a home…

  • Close to work?
  • Close to public transportation?
  • Located in a walkable neighborhood?
  • With a large yard or no yard?
  • With easy access to highways?
  • Located in a neighborhood with certain features? See a former blog about this topic here.

Is It Really Your Dream Home?

  • Be prepared. The current real estate market is seeing multiple offers on homes. Your offer might need to be aggressive or you will need to be willing to wait for another home.
  • Homes are not sitting on the market long – you may need to make a decision quickly about making an offer.
  • Do not become too attached to a home too early. Your dream home may not look so dreamy once you have a whole-house inspection and find major issues.
  • An appraisal sets a market for the home value. Your dream home will need to appraise based on comparable sales in the area. If it does appraise well, you will either need to have enough cash to make up the difference or rethink your offer to purchase the home.

You need to look at all of the details about the house and make a smart decision. 

Make the search for a home a positive adventure! Have fun looking into homes (on the Internet) and in person. Prioritize your list of home features and note which ones are non negotiable.

Keep a journal about your home search and include notes on the homes you have visited. This log will help you narrow down the most important features you are searching for in your next dream home.







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