Buying a home is usually the biggest investment you’ll ever make, and homeownership can be one of life’s most fulfilling experiences. And yet, if you’re like many people today, you may find yourself struggling to afford a home in an increasingly expensive market.
Fortunately, there are plenty of ways to get into the home-buying game. With this home buyers checklist homebuyers who want to buy the house of their dreams without breaking the bank, you should have no problem finding that perfect place.
1. Get Pre-approved for a Home Loan
Getting pre-approved for a home loan is one of the smartest things you can do as a homebuyer. Not only does it show sellers that you’re serious about buying, but it also gives you an idea of how much home you can afford — which can help narrow down your search.
To get pre-approved, contact a lender and provide them with some basic information about yourself, including your annual income and credit score. The lender will then tell you how much money they’re willing to lend you and what interest rate you’ll be charged.
Remember that getting pre-approved doesn’t guarantee that you’ll get approved for a home loan when it comes time to buy, but it’s a good indication that you’re likely to be approved.
2. Keep an Eye Out for Realtors Open Houses
Realtors’ open houses are homebuyers’ paradise — a chance to look at several homes in one day. You can find out which home sellers need to sell, what amenities they have, and how much you might be able to offer them for their home.
Don’t fret if attending realtor open houses isn’t within your budget. Many real estate agencies post pictures of properties on their websites, giving home seekers a sneak peek at what’s on the market.
If you’re looking for houses for sale in Green Bay, Appleton, and Fox Valley, check out House Hunters here.
3. Set a Deadline for Home Buying
Home buying is always better when you have deadlines. Not only does it give you a sense of urgency, but it also allows you to focus on what’s important.
When buying a home, set a deadline for yourself and ensure your lender knows about it. This way, they’ll be more likely to work with you when it comes time for the loan approval process.
A good rule of thumb is to have all your paperwork in order and be ready to buy within 60 days. That said, if you don’t find anything that meets your needs in that timeframe, extend your deadline by another 30 days or so until you do find something perfect.
4. Checklist for Buying a House: Consider Buying a Fixer-upper
Fixer-uppers can be a great way to get into the home-buying game without spending too much money. Many homebuyers are now considering fixer-uppers as their first home purchase because of the low cost and potential for appreciation.
Of course, buying a fixer-upper comes with its own set of challenges. You’ll need to factor in the extra time and money you’ll spend on repairs and renovations. But if you’re patient and have some DIY skills, buying a fixer-upper can be a great way to get into homeownership.
The Home Buyers Checklist You Need
Now that you have a home buyers checklist, get started today! And remember, if you don’t succeed, try, try again. You’ll be in your new home before you know it.
We hope this home buyer’s guide helps you find the home of your dreams without breaking the bank. For more home buyeing advice, keep reading our articles.