4. Home Search
At this point you will have a good idea of what you can afford and what type of neighborhood you will want to live in. Taking that information into consideration you are ready to embark on your actual home search. If you don't know much about the city that you are moving to you will most likely want to start your search by finding neighborhoods that meet your criteria and then narrowing your search to particular homes in the area.There are a few ways to go about this. The most efficient way to find homes is to allow your real estate agent to keep you up-to-date on available properties that may meet your criteria, then and allow your agent to screen these properties for you. When your agent presents you with a property that interests you, he or she can arrange for you to tour the property when it is convenient for you.
You can also access local publications highlighting available real estate in the area, contact local Neighborhood Associations, visit the local Chamber of Commerce, look on the Internet, and even drive through neighborhoods that you feel would meet your needs. Driving around a particular area looking for a home that is for sale is good because you can actually see the house, but it can be very time consuming and very "hit or miss."
8 Tips to Guide for Your Home Search
1. Research before you look. Decide what features you most want to have
in a home, what neighborhoods you prefer, and how much you’d be willing
to spend each month for housing.
2. Be realistic. It’s OK to be picky, but don’t be unrealistic with
your expectations. There’s no such thing as a perfect home. Use your
list of priorities as a guide to evaluate each property.
3. Get your finances in order. Review your credit report and be sure
you have enough money to cover your down payment and closing costs.
Then, talk to a lender and get prequalified for a mortgage. This will
save you the heartache later of falling in love with a house you can’t
afford.
4. Don’t ask too many people for opinions. It will drive you crazy.
Select one or two people to turn to if you feel you need a second
opinion, but be ready to make the final decision on your own.
5. Decide your moving timeline. When is your lease up? Are you allowed
to sublet? How tight is the rental market in your area? Do you need to
sell a home before you can buy a new one? All of these factors will
help you determine when you should move.
6. Think long term. Are you looking for a starter house with plans to
move up in a few years, or do you hope to stay in this home for a
longer period? This decision may dictate what type of home you’ll buy
as well as the type of mortgage terms that will best suit you.
7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.
8. Get help from a REALTOR®. Hire a real estate professional who
specializes in buyer representation. Unlike a listing agent, whose
first duty is to the seller, a buyer’s representative is working only
for you. Buyer’s reps are usually paid out of the seller’s commission
payment.