First Steps Toward Buying

Okay, you've made up your mind. You're gonna go for it!  You're going to purchase a home.

So now what?

An excellent first step in the home-buying process to get pre-approved for a mortgage.  Pre-approval takes some of the anxiety out of the house-hunting process- you have a much better idea what you can afford to spend, and you know you have your financing ready.  Sellers are also more likely to accept offers from buyers who are pre-approved.  Just arrange an appointment with a mortgage loan officer at your bank or mortgage company, and you're on your way.  (Make sure you ask in advance what paperwork you should bring along with you to the appointment.)

Once you have your financing, you need to decide exactly what you want in a home, and what general location you want to live in.  Writing things down is a good idea!  Make a list of "must-haves" and "would like to haves" for your new home.  Even if you decide to compromise further down the line, you at least have some guidelines to help you make your choice.

Your next step should be to find a good realtor.  True, you can go out and find a property on your own, but sometimes the best homes are sold before they're even advertised.  A good realtor will be up to date on the local real estate market.  Also, a knowledgable realtor will save you lots of time in the house-hunting process- they can direct you to properties that will suit your needs in areas you're interested in.  This will cut down time spent looking at homes that simply don't fit the bill for you.  Not sure how to find a good realtor?  Ask your friends and family that have recently bought and sold property.  You can also find a realtor from the listings on Realtor .com.

And finally, you should find a reputable home inspector.  Having a property inspected before you buy it is a must- it can save you thousands of dollars in the years to come.  Even if you're looking for a fixer-upper and plan to put money into it, you should still know exactly what you're getting into before you buy.  A good home inspector can be found by word of mouth, but many realtors also work with home inspectors.  (Note: be sure to check the home inspector's reputation with the Better Business Bureau, to make sure they're not just "okaying" properties for the realtor!). The American Society of Home Inspectors  can also help you find a reputable inspector.

It's an awful lot to think about, isn't it?  It is- but once you work you way throught these steps, you'll have made your house-hunting process much  more streamlined.  Having your financing in order and working with the right professionals will help you into your new home before you know it.