What are the first steps to buying a home?
Robert, from Wrigleyville
A
Research – Many homebuyers have an idea of where they would like to live, but they do not have an idea about the cost housing. Start your research online. Find a good Real Estate website that allows you to conduct a home search. A good home search locator will allow you to enter in your specific criteria, such as how many bedrooms you need, bathrooms you need, which neighborhood you like, etc. These home search locators will find homes that are currently on the market. This is a good way to start understanding the type of price the particular home you are looking for is. Another good home search locator should allow you to save specific searches so you can enter different criteria, without loosing your original criteria. The Dream Home Locator service, offered by Chicago Home Estates, does just that for registered clients.
Affordability - Once you have an idea about the price of the homes you are interested in, you need to know if you can afford your type of home. The next step is to meet with a mortgage lender and discuss with them the types of loans you can get, and the amount of money you would be eligible to borrow. From this you should get a clear idea of the type of home you can afford.
Contact a Realtor® - A Realtor® can work with you to let you know what types of homes in your desired neighborhood are available in your price range. If no homes are available in your desired neighborhood, a Realtor® can let you know about different neighborhoods that support the type of home you are looking for that are in your price range.
Go Shopping – Now it’s time to go out and start visiting some of the homes you and your Realtor® have found. This step allows you to see first hand the layout of a home and all the features up close. It gives you a chance to speak with your Realtor® about the whole home buying process. It will also give you a good idea about the feel of a neighborhood (if you are not familiar with it.)
The next step would be to purchase your new home. This aspect of the home buying process is another set of steps. If you give me a call or e-mail me, I would be happy to go over it with you. I hope this was helpful, and if you have any questions about this or any other part of the home buying process, please feel free to contact us.
Rick Bell