The housing market may seem daunting and challenging for first-time home buyers to start their search, but it’s not as bad as you think! With the proper knowledge and guidance, your chance of buying the perfect first home is much higher. This article will give you the basics of what you need to know to start your search, including all the critical steps between finding a home and finally buying it.
1) Get pre-approved for a home loan
First-time buyers often make the mistake of not getting pre-approved for a loan before searching for homes, but this may make it harder for them to find one. If you approach a seller interested in selling without proof that you can afford their house, they may avoid negotiations or even refuse to sell together. It would be best if you got pre-approved for a loan before you begin your home search so that sellers will know how much they can ask for from the beginning. Visit https://www.jithomebuyers.com/la/new-orleans/ to learn more.
2) Start searching for homes
Once you’re pre-approved, start looking for homes! You can search realtor.com or trulia.com and compare the properties you like with other homes in the area and their asking price. If the seller has not already listed a price that they would like to get for their home, ask them what they would be willing to accept before making an offer on their home. Once you have narrowed down your choices to about three houses, it’s time for you to visit those properties in person and decide which one is your favourite. The decision to buy a specific home will ultimately be up to you, so make sure you choose one that suits your needs and matches your style.
3) Contact the seller and make them an offer!
Once you’ve chosen a property, it’s time for you to contact the seller. You can do this either over the phone or in person (you might want to revisit the home, just in case). Offer them what you feel the home is worth and discuss any issues or considerations (such as being able to get financing or close within a specific time frame) if they accept your offer, great! But don’t celebrate quite yet. You still have much more work ahead of you.