Buying a home is an important step toward
financial security. And with the right help, home buying
is easier than you think.
Get professional tips on buying a home including what
you should look for … how to negotiate a great
deal … how to protect yourself along the way,
and more.
Register today for My Century 21 to get access to home
buying tools and information including:
View recent home sale prices in areas where you're
looking
Research schools, demographics, and statistics for
your dream neighborhood
Save a personal collection of favorite properties
and property searches
Be the first to know when properties that match
your criteria come on the market with automatic email
alerts
Find your nearest CENTURY 21 real estate agent or
broker to help you
Create and save virtual home plans to streamline
your move-in and more!
Start by creating a prioritized list of
features you want in your next home and the reasons why.
Use it as your search guide, but remember that depending
on your funding, you will probably need to make some compromises.
In addition, talk to your real estate professional about
where you want to live. Location is a huge part of any
move. CENTURY 21 professionals are trained to help their
clients narrow down their choices by sharing market trends
and local information like neighborhood statistics and
community links.
Now that you know what you want, it's time
to see what you can afford. You can start by crunching
the numbers yourself using our selection of calculators.
When you're ready to move to the next step, you can get
pre-approved for a mortgage. This process can often be
performed in under an hour and it accomplishes two important
goals. First, it will tell you how much house you can
afford and what your monthly payments would be. Second,
it tells the seller that you can afford to buy their home.
By definition, a pre-approved buyer has an approved mortgage
subject to an appraisal of the property. Many times a
buyer can use this pre-approved status as leverage during
the negotiation process.
Once you know what community you'd like
to live in and have an idea of how much house you can
afford, its time to start checking out actual properties.
Beginning this search online can help save you time since
it can help you target homes that meet your search criteria.
Our home notifier can even email you when properties come
on the market that meet your search criteria.
Next, begin visiting homes in person. Ask your local real
estate professional to arrange visits and attend open
houses that are in your target area and price range. When
comparing homes, make sure to look at all aspects of the
property. Is the property tax approximately the same?
Are both the houses renovated? Do they both have the same
amount of bedrooms and bathrooms? Are both houses located
on the same or similar streets? Does either house have
any encumbrances?
Remember to keep an open mind when you are looking at
homes. Use a virtual home planner to help you imagine
what the house could become with you as the owner.
Once you find the home you want, you need
to make an offer for the house. Typically this is a very
difficult and trying time since both parties have totally
different goals. In most cases it is better to have a
third party, such as a real estate professional, negotiate
the offer. If you have any personal interaction with the
homeowner, don't give out any information about your move,
your current housing status, financial status or your
feelings about their property - positive or negative.
This could hurt you in future negotiations.
This might also be a good time to consider purchasing
a home protection plan. These insurance policies can be
purchased by the buyer or seller and help protect against
unexpected costs or home repairs during the listing period
or in the initial years after a home has been purchased.
After your offer is accepted you will need
to set up, coordinate and interpret various inspections,
including insect, radon, building quality, oil tank, title,
etc. You will also need to arrange for homeowners insurance
and finalize the mortgage.
This is a major step in the buying process and there are
many potential problems that can be discovered during
this period. These include a leaky roof, radon gas, termite
damage, a foundation problem, and wall cracks, to name
a few. These problems happen all the time. The difference
between closing on your dream home and starting the process
all over again is what occurs during the negotiations
between you and the seller.
Your CENTURY 21® Real Estate Professional can help
make these discussions go more smoothly. In most states
you will also have the option of a "walk through"
before the closing. This is your last chance to make sure
that all of the items that you have agreed upon were completed
to your satisfaction.
Before you arrive at the closing, make sure
all the necessary paper work and deposits have been completed.
If the mortgage, title work, homeowners insurance and
other items necessary under local and state laws are not
completed and brought to the closing table, the closing
may not happen on time. And, depending on what the contract
says, this could result in further action including financial
penalties and even the loss of your rights to the home.
Once you close, it's official - you own the house! But
there might be a few things you want to do before you
lay out the welcome mat. These include arranging for an
alarm system, turning on the electricity, subscribing
to the local paper, cleaning or replacing the carpet,
arranging for lawn services, etc. This could also be a
good time to make some needed renovations.
Be sure to turn to your CENTURY 21® real estate professional
for guidance and information about many money-saving offers
available to CENTURY 21® customers.
