5 Things To Know Before Starting Your Home Search

For a first time home buyer or even someone who just hasn’t purchased a home in several years, it can be a bit overwhelming to know where to begin. There are a number of moving parts involved and it can seem like a lot when you are just getting started. This is why it is so important to work with an experienced buyers agent so that they can help guide you through the process and explain the process every step of the way. Here are 5 things that you will want to know as you start to work with your agent:

1. Be ready to buy a house - Our team is happy to work with clients who are in all stages of their home search. If you are just curious about the market but do not plan to move in the near future, we have a number of tools to help provide you with information so that you can feel educated when you decide that you are ready. Once you are actively shopping, however, it is important to be prepared. If you submit an offer on a home, be ready for the possibility that it gets accepted and have your finances lined up to make an escrow deposit. 

2. Get pre-approved - This may be the most important step in your journey, as you will likely not know exactly what price range of homes are available to you until you meet with a lender and get a pre-approval. They will evaluate your finances and be able to give you a rough estimate of what you should be shopping for. We work with a variety of local lenders who would be happy to provide this for you. 

3. Set a budget - Once you have a pre-approval you will know what the top end of your purchase range will be. From there you will need to decide what you are comfortable spending on a monthly mortgage payment as well as how much money you will want to put down as a down payment. Your agent will be able to help you through this process and get you estimates as far as what expenses will occur through owning a home. These include insurance prices, the cost of maintaining the home, and an estimate on what the monthly utility bill could be. 

4. Price is not the only thing you can negotiate - Many people go into the home buying process thinking that the total purchase price of the home is the only factor when they are beginning to put in offers. There are a number of other factors that can be negotiated on, such as whether or not appliances and furniture will be included, a post occupancy agreement that enables the seller flexibility in their move-out, and the timeline for how long it will take to close on the sale. These are all factors that your agent will be able to negotiate on your behalf so that you can get the greatest benefit and make your offer attractive to the seller. 

5. It may take time - In today’s market it is important to be patient. Be prepared to have an offer accepted early on in your search, but also know that depending on the area and price point that you are shopping in it may take time to find the perfect home for you. 

If you want to learn more about the home buying process or are ready to begin your home search, give our team a call today! We have years of experience working with buyers in the North Central Florida area and would love to help you begin your journey. 

For more information about what you should know as you start shopping for a home, take a look at this article from the National Association of Realtors.