Buying a new home can be a very good experience, or it can be a very bad one.
You can help yourself to have a very good experience with your new home purchase if you do your homework first.
You need to first make sure that you have established a history or good credit, and that you have a very good work history, also having some savings in the bank is always a good thing.
Then you will need to start looking at getting pre approved for a home loan. I would suggest start looking where you do banking first, because you should have established a good history with them. And they know you.
You can also look for a lender on the internet but if you do that you will need to be sure that the company you are dealing with has an excellent reputation.
You can contact the Better Business Bureau about any company you may find online. If you see a lot of complaints that may be a good sign to stay away from that company.
Another thing you can do is ask around and see who others in your family or network of friends have used for their home mortgage; this may also give you more choices.
You do want to try to find the best financing you can, because this will be a very large purchase, and you do not want to find any unpleasant surprises down the road.
Such as your payments can go up, or your interest rate goes up, or find that you have penalties’ for paying off your loan early. (This is a very bad thing to learn, that you can be penalized for paying off something early, but it is true. So you need to be aware of this)
When you finally do find the lender you will be using you will want to make sure that you ask questions. If you are handed a paper to sign do not sign unless you fully understand what it is that you are signing. Ask questions until you are clear in your own mind that what you are doing is to your benefit.
After you have taken care of getting yourself pre qualified for a loan you will now want to start finding out what homes are available. It is best to find out what you can get approved for as far as a mortgage before that you start looking at homes.
Then try to stay within that limit, because it can be very disappointing to find a home that you really love, only to learn that the cost is more than you will be approved for in this life time. Or at least any time within the very near future.
Okay, once you have taken care of the basics and you are out looking at homes, there are a few more things that you will want to do.
What you will want to do is this you will want to really look close at any home that you decide that you may really want to purchase. And do not take the seller at their word as far as the structure of the home.
You will want to have any home that you decide to purchase inspected by a certified home inspector, do not leave anything to chance. You will want the plumbing, wiring, heating system, windows, floors walls, attic, and basement, everything inspected. You do not want to purchase a home only to learn that you will need to make major repairs due to termites or rats, or water damage, or mold.
When it comes to your home purchase it is much better to be overly picky than it is to just take a quick walk thru and decide that this home will meet all your needs. Because the home may not meet your needs if you will have to make many expensive repairs before you can even move into it.
So remember to look at everything, including storage. If you have a lot of stuff you will also want a way to store your belongings so that you can keep your home clean neat and orderly. A cluttered home can quickly become extremely stressful and unpleasant.
By taking time to be picky, and to be wise in your finances you can find a home that you will like for many years.
One last thing you will want to consider that is very important is what the crime rate for the area where you are thinking of purchasing. If the crime rate is extremely high it would be wise for you to look else where.
You can find out about the crime rate by calling the local police department. And asking them about the crime rate, it is better for you to be informed than to move in and be surprised.
This is especially important if you have children or will be living a by yourself.
Being safe in your home is a high priority and a lot easier if you live in an area that has a lower overall crime rate.
