Home Buying Tips: the buyer’s checklist

Buying your first home is one of life’s many rites of passage. For some it symbolizes their journey to adulthood, while for others it represents their first truly major purchase. One thing is for sure, though, and that’s no matter what it means to you, it is definitely a major purchase that requires a lot of thinking and shopping around.

I have helped buyers just like you find their dream homes in and around Bradenton, Florida, and what I’ve found is that it helps having a buyer’s checklist to make sure you’ve got everything in order. I’d like to start my home buying tips series with this helpful checklist to make sure you find the home that’s just right for you.

Step 1) Settle on a budget before you even look

While there is no golden rule, it’s a rule of thumb that you figure out what your disposable income is each month(take home pay – bills), and then go from there. Experts who deal in the lending and finance industry urge buyers never to exceed 35% of pre-tax income for their mortgage. It’s a good idea to be overcautious here. The best home buying tip you’ll ever get will be to settle on a conservative price range and then begin looking. This way you never make a decision you regret financially.

Step 2) Get your credit in order

Credit could make the difference between a dream loan and one that leaves you buried under. While you might not be able to go into the past and correct financial mistakes that you’ve made, you certainly can look at your report and correct mistakes that companies have made. If there is an error that is poorly reflecting on your report, then you need to get it stricken from the record.

Your score is going to affect how much you can borrow and at what rate. Make sure you know it and how it will affect your loan status before getting your hopes up about a home. You are even entitled to one free report by federal law.

Step 3) Get a professional real estate agent

Many people think that since they can just go to an internet database somewhere, that they don’t need a professional real estate agent when buying a house. I can tell you from experience that it just isn’t true.

An agent does more than just simply find your home, we do everything from handling complex paperwork to negotiating on your behalf. The convenience, time-savings, expertise, and knowledge that we provide is essential to getting the right one. Especially in markets like Bradenton.

Step 4) Choose a neighborhood

You are going to have the opportunity to choose where you want live, but it isn’t as simple as you might think. Determine what is most important to you. Do you want good schools, access to the beach, a great view, or some peace and quiet? You can’t rush this decision. Search the area to find out which neighborhood is the perfect one to buy a home in.

Step 5) Choose a home and get an inspection

Once you have chosen the home that you think is your dream one, you need to get an inspection. That inspection will tell you if there is anything wrong with the house internally like bad plumbing or flooring, or even a cracked foundation. These issues will cost you a fortune down the line if you don’t find them out soon. Don’t sign an agreement without one.

It doesn’t matter where you are buying one, these 5 steps are essential to buying a home. In my experience, having a home buyer’s checklist is the best real estate tip that anyone can give someone on the hunt for a new house. As a professional realtor in Bradenton, Florida, I can tell you that this has helped countless clients of mine. Stay tuned for more great tips.