Buying a Home - Part 1
Buying a home is an exciting time, but the homebuying process can also be complex. Many factors affect how long the purchasing process actually takes, but there are a few steps that are universal in most home purchases:
- Decide if you’re ready: determine your financial readiness and become a good mortgage candidate.
- Get a pre-approval letter and set your budget: a preapproval letter tells sellers that a lender believes you qualify for a specific mortgage, thus speaking to your buying power.
- Decide on a property: A real estate professional can help you narrow down potential properties after you determine your budget and what you really want in a home.
- Make an offer: Your budget isn’t just about price; you can also negotiate necessary repairs, which party pays for closing costs and other items.