How to Buy a Home




How to buy a home is often overlooked as home buyers concentrate most of their efforts on getting pre-approved for their loan. Just because you have a pre-approval does not mean that you should race out and place an offer on the first home you see.

how to buy a homeHome buyers need to pay most consideration to their lifestyle and their real estate “needs” and then they can concentrate they can concentrate on their “wants”. Too many times first time home buyers start out with a large list of criteria for their dream home only to have their bubbles burst by a real estate agent who tell them their home exists but in a state 2000 miles a way.

The home search begins with priorities. It’s very important to write down a list of priorities- location, minimum bedrooms, bathrooms, yard, how many stories, garage. Next, the home buyer must do a search online or contact a local Realtor to determine if their priority items are reasonable for their pre-approved amount.

For instance, if a home buyer pre-approved for $200,000 contacts a Realtor in Anaheim and wants to buy a 3 bedroom 2 bath single family house close to an Anaheim school, they may find they have a problem. There are no 3 bedroom 2 bath homes in Anaheim for $200,000 or under. So what next? The home buyer must decide if they want to keep the geography criteria i.e- stay in Anaheim, the house criteria, i.e.- 3 bedroom 2 bath, or wait until their financial circumstance change. They may find they can get their 3 bedroom 2 bath in another county and moving is realistic or they may decide it’s more importance to stay within the city so a 2 bedroom 1 bath condo all of a sudden becomes the target.

Once the “need” is figured out, the search can progress to the wants i.e.- hardwood floors, granite counters in kitchen, etc. The wants are things that are desired now but they can be added onto the house in the future if the needs are met.

Some buyers especially first time home buyers will see a home on the first day that meets all of their criteria, but they fail to write up an offer because they think they should see 20-40 houses. The risk in that thought process is that they may never see a home as good as the first and by the time the home buyers circle back around, the home is off the market and in escrow with a different buyer.

So the process can be summed up in a couple of easy steps-

  1. Know your budget
  2. Write down your needs and make sure the needs and your budget work with one another
  3. View properties that fill your needs and work on your wants
  4. when you find a property that feels like home, make the offer before you lose the home.

Please complete the form below for a quick pre-approval for your home purchase loan.  A loan officer will review your information and contact you regarding the programs you appear to qualify.  If you have already found a property, please note that in the comments section and your inquiry will be expedited.

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