Checklist for first-time home buyers (infographic)
Buying a home does not have to be overwhelming. We’ve broken down into five basic home buying checklist and the process. This five checklist will help you getting ready and set your expectation for the whole buying process when you are ready. It also will help to reduce the obstacles and to make it manageable and predictable to buy a home. Complete each steps of home buying checklist below and you will be well ready on your way to homeownership!
Getting financial ready
Check your credit from all three credit bureaus. If you see any errors, fix it as soon as possible. It may take time, but you want to find out now rather than later. At the mean time, gather all necessarily financial documents such as bank statements, 401K statements, income tax and etc. If you are getting VA loan, you need to get Certificate of Eligibility and Form DD-214 ready.
Research mortgage
Find out whether you kind of loan you are qualify for, based on your financial situation. You may qualify for special loan such as VA or USDA. Once you find out what loan program that you want to go with, request quotes from multiples lenders and compare the cost and terms. Remember NOT all lender are equal. When you had decided which lender you want to do business with, get pre-approved for mortgage. This is when all your financial documents are needed.
Explore neighborhoods
After you pre-approved for mortgage, you now know how much you are qualified for and how much your monthly mortgage payment will be. Find properties in your price range in your preferred city or neighborhood. Drive by and spend some time in that area, find out nearby amenities and imaging your family living there.
Make list
Start making a list of your dream home. Start with “must have” then “nice to have” and finally “dream features” If the list does not match the price range, try to shorten the list. Be realistic.
Find an agent
After you have pre-approved letter from lender, preferred city or neighborhood and your dream home list, it is time to start tour homes. Contact Swee Ng to schedule a complimentary consultation.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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