Owning a home is a huge goal for many Americans. You may think buying a house is something you want to do soon – you’ve been saving, looking, and planning home décor. You’ve made a list of your must-haves. But are you ready to actually pull the trigger? Here’s how to tell.
One-on-One Showings vs. Open Houses
If you’re sticking to just open houses, you may not be ready to take the plunge. On the other hand, you may just be getting your feet wet. Serious buyers will soon move toward scheduling one-on-one showings at properties that really catch their eye, either online, through their agent, or at an open house. If you’re unwilling to make that move, could it be you think a showing is a waste of time? Viewing open houses can be really fun (we all have our hobbies), but it doesn’t necessarily mean you’re serious about buying.
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Working with an Agent
Speaking of showings, do you have an agent you could at least call if you find that house you want to look at more closely? Start researching agents if you think you’re serious about buying. If you sign a contract with an agent, he or she will also likely help your search with things like new listings, pocket listings, and recommendations for desirable neighborhoods, schools or renovations.
Finding a Neighborhood
Have you narrowed your search down to a handful of areas? Or are you all over the map? Some buyers have good reasons for looking in multiple neighborhoods. If you work from home or are retired, you might not be tied to a specific geographic area. If you are looking for a very specific or unique architectural style or a home that fits a need like a motorcycle-repair hobby, you might be less choosy about where that home is located. But if you’re serious about buying, you have likely looked at schools, amenities and commute times from your focus neighborhoods and want to stick to those areas.
Getting Finances in Order
The financial aspect of buying a home is probably the least sexy part, but it’s something all buyers have to go through, whether you’re buying in all cash, putting down 3.5% on an FHA loan, or going conventional with 5%-20% down. Since most of us will need a mortgage to purchase a home, getting pre-approved is a must before you submit an offer. Pre-approval means that a mortgage lender has reviewed your finances and is stating that the mortgage company believes you are going to be approved for a mortgage of a certain amount. Being pre-approved not only saves you time, but it also allows you and your agent to know how much you can borrow to purchase your home. Your agent can recommend a mortgage lender if you’re unsure how to start.
Do you have any extra tips for moving from browser to buyer? Let us know in the comments!
If you really ARE ready to purchase your home and still need to find an experienced first-time buyer’s agent to guide you through the process, please contact me. And remember, friends don’t let friends buy homes without Agent Lady!
About Agent Lady: Cherise Wynne is a leading real estate agent in Philadelphia, helping home buyers and sellers navigate the City of Brotherly Love, with a special focus on first time home buyers. To chat about getting started with your first time home buying experience, click here.
