Thinking of buying a home in 2016? Here are some tips to think about before you start your search:

1. Get Approved for a Mortgage Loan

Meet with a mortgage loan officer to learn how much house you can afford and what costs will be involved in the loan process. You will need to consider a down payment on the home, earnest money as well as closing costs. This is a good time to also check your credit and make sure there is nothing that needs to be cleared up that might slow the loan process.

2.  Learn The Real Estate Market – Look at Homes!

You will need to meet with your real estate agent and understand current market values of homes that meet your needs. Your agent will want to know what your housing goals are: location, size, number of bedrooms, style of home, etc… Once your agent has a grasp of the kind of home you desire and your price range, you can start looking at homes together.

2.  Make an Offer

When you have found a home that you love, your agent will help you create an offer with a listing contract. To establish an offer price, you and your agent will review comparable active, pending and sold properties nearby. Once the offer has been submitted, it will either be accepted, countered or rejected. Your agent will work with you during this process.

Most buyers have as part of their contract a contingency for a whole-house inspection. This professional (hired by you) points out issues or problems that you need to be aware of before committing to purchasing the home.

3.  Closing Day

You’ve worked through all of the contingencies in the contract, your mortgage loan has been processed and now it is time to close on the home. Your real estate agent will be with you, along with a title professional. You will sign many documents and leave as the owner of a home!

4. Moving Day

Depending upon your purchase contract, you may have access to your new home directly following the closing or in the near future (to give the sellers time to move out.) Once you have a move-in date, schedule the utilities to be changed to your name as well as schedule service for cable and Internet. Be sure to notify the US Post Office of your change of address.

Congratulations and enjoy your new home!

Look at homes for sale here.