How To Buy A Home: Step by Step Guide 2022

Homebuying can be an exciting and emotional process. Before starting your home search, you will want to understand the ins and outs of home buying. With so much information online, it can be difficult to tell what’s relevant and what isn’t. This will empower you to make decisions that are the best for your family — and your wallet.

As a real estate expert in Northern Virginia, I’ve put together this guide so you have all the information you need in one place. OR you can download this easy-to-understand FREE HOMEBUYING GUIDE PDF!

 

Purchasing a home is a major decision that shouldn’t be taken lightly. If you’re not clear on why you want to buy a house, you could end up regretting your decision. The best time to buy a house is when you are ready.

This is also the phase where you need to get ready to build a good credit history, set a budget, get mortgage pre-approval, find out what mortgage you qualify for and save up for a downpayment, closing costs, and other relevant expenses.

 

 

As a first-time home buyer, you’re probably feeling anxious about the process of buying a house. There’s plenty to consider; tax laws, mortgages, down payments, home loans…and those are just a few!

The good news is that you don’t have to go through it alone. You’ll need the help of an experienced real estate agent by your side.

When it comes to buying a new home, you need an agent with your best interests at heart. A Buyer’s Agent is here to help you find your perfect home and make sure that the transaction goes smoothly from helping you find homes, to communicating with the seller and negotiating the home sale.

If you’re considering to move in Northern Virginia, I’d be happy to help you with these things. For more than 12 years. I’ve been helping people buy the home of their dreams and navigating the housing market.

 

 

I know you’re excited to begin this next chapter of your life and are focused on looking at different homes. Unfortunately, many first-time home buyers fall victim to being emotionally attached to the first home they see and purchase a house that, in hindsight, is not a perfect fit for them. To avoid making this common mistake, be sure you are clear on your reasons for buying a house.

Determine what is important to you such as school, neighborhood amenities, monthly mortgage payment, public transportation, walkability, etc.

The clearer you are about why you want to buy a house, the easier it will be to decide on your priorities when viewing homes and determining which home is best for you.

 

 

Getting pre-approved for a mortgage is helpful when you make an offer on a house, and it gives you a firmer handle on how much you can afford. This is the perfect time to contact your mortgage broker or lender and make sure you understand your financing options. Ask for clarifications if needed.

The lender or attorney will run a title search to ensure there are no clouds on the title. The end goal is to ensure the seller has the right to sell the home, and protect the buyer’s future ownership.

 

 

Understanding how to make an attractive offer on a home can help increase your chances the seller will accept it, putting you one step closer to getting those coveted house keys.

This is where I can help: to take some of the pressure off of you by handling all of the paperwork, details, and negotiations. This includes preparing a complete offer package, including your offer price (competitive bid), your preapproval letter, proof of funds for a down payment (this helps in competitive markets), and terms or contingencies such as home inspections.

 

 

Once you’ve satisfied all of your contingencies, and you’re happy with the final walk-through, it’s time to make it official and close on your home loan. The last step is for your lender to give the “green light” that everything is in order and that they are ready to issue a clear-to-close status.

Congratulations, you are now a homeowner!  This is the time to set up utility bills in your name,  protect your new asset by obtaining insurance, maintain all important files, set a moving date, and get to know your neighbors.

 

 

The key takeaway:

Homeownership is a journey that can start well before you ever consider pre-approval. It takes an average of 4-6 months for the process of applying for a loan, meeting with lenders, finding the right home, and closing. If you are thinking about getting into the market and haven’t yet begun the process of getting pre-approved, now is the time to get started.
 
 

Let’s connect, book a free home-buying consultation and let’s get your dream home!

 
 

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