It’s a wonderful accomplishment if you manage to buy a house on your own, but the truth is that this is not an easy project. You could have all the money in the bank account, but the true challenge is to find the house that is perfect for you and for your family.
Many people face this situation – they want to own a house, but they can’t seem to find one that suits their needs, and mostly this happens because they don’t know how to take the right steps toward this goal.
Once you realize that this is a process like any other, one that you can divide in simple steps, you’ve made a wonderful thing. Let’s see what are these steps for finding and buying a house.
Step 1 – Know Your Budget
Yes, this is the first step and it’s one of the most important, because if you don’t know how much money you can use, you’ll never know where to look for a house. You could have enough money or you could use a credit from a financial institution. However, if in the first situation, you know exactly what you have, if you plan to use a credit, you need to visit at least a few banks and see which one gives you the biggest loan.
Step 2 – Browse Online
This is the second step that you have to take, as it will give you a fair idea of the prices that are on your local market, or wherever you want to buy the house. There are plenty of dedicated websites for real estate market, so get there and see the offers. It’s easy, it’s free and it doesn’t constrict you in any way.
Step 3 – Know What You Want
This is another thing that you have to do. You can make a list with the things that you want to have in your future house – think about the number of bedrooms and of bathrooms, how you want to kitchen to be: opened or closed, how big the yard should be and so on. There are many criteria that you’ll have to take into consideration, and it’s good to do this early, before you start the actual hunting for a house.
Step 4 – Talk to a Real Estate Agent
A real estate agent is the best person who can show you the properties that fall into your budget. Once you’ve made an idea about the prices that are on the market, and because you already know how much money you can use, it’s time to start seeing properties.
They will show you at least two properties that will be cut from the list from the start – one that is cheaper and without anything that you want, and one that is very expensive and way outside your league. You will also see properties that are in the middle of all these, right where you can afford.
However, don’t choose just from 3 or 4 properties – if you haven’t found something that you like, don’t be discouraged – ask to see more properties or change the real estate agent.
Step 4 – Go Back to the Bank
Now that you’ve found something that you like, it’s time to go back to the bank and take the loan. They will ask plenty of papers from you, from the proof of your salary and financial possibilities to the contract of buying the house and anything else that they might need. Don’t be discouraged, it can take a few days or weeks, but they will approve the credit.
Step 5 – The Attorney and the Contract
Once that you’ve done this, contact the attorney specialized in real estate and ask him or her to look over the contract. If there is anything else that is not properly done or if something is illegal, you need to know about this. Having a attorney look over your contract may seem like a waste of money, but many attorneys can see legal details that you cannot decipher unless you are versed in the legal system. Example: There may be situations when people were trying to sell someone else’s properties, so you’ll have to be very careful of what you buy. It’s up to your lawyer or attorney to see what the property laws are, and how they can utilize that to your advantage. This may be step 5 but this is the most import step in the process of buying a house.