Tips to Buying a Great Home

Transitioning from a renter to a home owner is a very large step. Purchasing your dream home should be done with care. If you are not familiar with home buying, following these five steps will help you make a smooth transition to home ownership.

1. Hire a good realtor. When you are looking for a realtor you want to make sure that the realtor is familiar with the area that you are interested in and the type of home you are looking to purchase. A realtor that is interested and knowledgeable about your needs will help you find, and negotiate on, the perfect home.

2. Understand the real estate market for the area in which you are looking. Have home prices drastically declined? Are there a lot of empty properties? What have similar homes sold for in the recent past in that area? These are all questions that must be answered. Some of this information will be available from a qualified realtor, the rest you must research yourself. When you can answer these questions you will be able to judge if the area suits your needs.

3. Research the neighborhood. If you will have children attending school, find out if there are schools nearby and if they are rated well. If you need medical care on a regular basis, make sure you know how far you are from medical centers and hospitals. Locating the grocery store and shopping areas is important as well. People that utilize public transportation should check for bus service in the area. If you enjoy the outdoors, check the area for parks and recreation centers. Knowing the neighborhood prior to committing to buy a home will help ensure you are happy once you get there.

4. Be nosy when you are viewing houses. You should not be afraid to look in a closet or underneath a bathroom sink. These are areas that will show if there are any problems in the house. Faucets that leak are not apparent to the eye, but the cabinet underneath will have water stains. Turn faucets on, flush toilets and look at the seams in the walls. It may seem nosy, but it will help you avoid purchasing a home in need of repairs.

5. Get pre-qualified for a mortgage before you start shopping. When you pre-qualify for a mortgage you give yourself an advantage when shopping for your new home. You will know exactly what you can spend on a house, which will eliminate any problems that could arise if you bid on a home and then can't qualify. It will also give you the advantage to negotiate with the seller. Sellers who have qualified buyers look at their homes know that there will not be a delay in the sale. Because of this, they may negotiate to reduce the price to move the property.