Beginning Your New Home Search

Whatever the state of the market may appear to be, there's always people who need to to buy a home. Between the changes from the economy, laws, and technology, it's not easy to keep up with what worked in the past, or where to start if you are completely new to the home buying process.

 

If you're new to home buying, or it's been awhile since you bought, build your confidence before you get out there. Think about the following things before you seriously search for your next house:

 

 

It might not be fun, but it's arguably the most important part of the process. How are you planning to buy your next house? Some can pay cash. Many of us need financing or some kind of financial assistance (perhaps from a relative).

 

To obtain mortgage financing, you'll work with a bank or loan agent. Upon providing basic information on your income, debts, and other assets or funds, you can receive a mortgage prequalification. This is an estimate of what kind of financing you can get. Considering your estimated mortgage amount, plus your down payment (which may be from your savings, or a gift from a relative), you now have a general idea of your purchase price.

 

If you don't know where to start when looking for a loan agent, please feel free to ask me and I'll provide some ideas or referrals.

 

In addition to the purchase price, it is important to consider keeping money aside for closing costs, and maintenance after you buy your new home.

 

We've heard this expression before. From state level to the street, where do you want to live?

 

Are you looking to be close to a top school district? Do you want close access to major freeways or light-rail? What community amenities or culutral attractions do you want to be near? Does airplane or car traffic affect where you want to live? How close to family or friends do you want to be?

 

If you're living in your preferred metro area, but still deciding on the neighborhood you want to live in, make the time to "practice" driving from the area to your work, or a nearby school or place of interest. Try this at different times of the day. Ask yourself if you like the potential commute or closeness to the stores and businesses around the area.

 

While this is completely subjective (and something you may have already thought about, or even started looking), write your ideas down. Think about your must-haves, nice-to-haves, and hard-no's. If you are buying with a spouse or partner, I highly recommend you both make your own lists, which then you can compare to see what matters to both of you. Think about your long term plans, and ask if this house will be a good fit in the future. Remember this is a house that you'll maintain, but will also be your place to relax and create memories in.

 

Once you do these things, you should have a better idea of:

 

 

I'm happy to be your guide and bolster your confidence throughtout the buying process. If you, family, or a friend is looking to buy a home in the Phoenix area, please do not hesitate to contact me.