Hunting for a home can sometimes feel like hunting for Easter eggs: you start out wandering around in the woods until you find what you’re looking for. Homebuying doesn’t necessarily have to be that way, and if you structure your home search right, then you’ll have a nice map for how to search for a home and where to start looking.
If this spring is your year to purchase a new home, then take a look at our house hunting “Easter eggs” for making your search a success.
Get Your Money in Order
It was always nice when, as a kid, your parents would sneak a quarter or a dollar in your Easter eggs along with all of that candy. We all wish that finding money for a house was just as easy!
It really can be if you play your cards right. The thing that trips most homebuyers up in the buying and hunting process is simply ignoring the fact that financing takes time. Before you know it, you’ve found yourself in a contract, a closing date is set, and your home loan is still floating in the ether.
For that reason, we recommend starting with financing as your first step to a successful home hunt. This way, you’ll know exactly what you can borrow and what you can afford and eliminate a lot of guesswork and hassle along the way.
Hunting For Mortgage Rates and Products
Part of the mortgage process is getting pre-qualified for an interest rate and a mortgage product that works for you and your family.
For that reason, it’s important to familiarize yourself with the mortgage industry and how it all works before you go into a lender. Being well-versed on how the mortgage process works (including application, pre-qualification, and documentation) will save you some time as you embark on your home hunt.
Also, getting a broad overview of the mortgage products available to you will give you a good idea of what to expect, what to ask for, and how your mortgage may be structured.
Balancing Your Wants and Needs
With your mortgage pre-qualification approved or an application at least in the works, it’s time to narrow the focus of your home hunt by determining your wants and needs.
For many first time buyers, a dream home scenario always plays out in their house hunting brains, but in reality, a more balanced approach is necessary to find a home that both meets your needs and gives you your wants. For this, we recommend making a list of your top needs and wants and shopping for a house that ticks those boxes.
Start by evaluating your absolute needs and sprinkle in some desires. By marrying the two, you can find a home and go to a realtor with a battle plan and something concrete with which to shop.
Get a Real Estate Agent
It’s easy enough to shop for homes on your own, but it’s a little more difficult to finagle the finer details of real estate transactions without an agent.
Agent’s are experts in what they do, and they have the experience to help you navigate the technical side of buying a home as well as the legal aspects of contracts and negotiation. Unless you do these things professionally, it’s better to leave the important details to a real estate agent instead of forging ahead alone.
To get started on your Easter house hunt, get in touch with Tidewater Mortgage Services, Inc. Call our loan experts today and get you can pre-qualified in as little as 24 hours!