Are you thinking about buying a house? Every day thousands of people across the country think about buying a home, and they go through a process that can seem cumbersome and scary. That’s because it is. Unless you’ve been through the process you have no idea what you’re in for, and even if you’ve been through the process things can change in a heartbeat. Here are 5 things to know about buying a house.
1. Before you look at any houses, you need to determine how much house you can actually afford. A good start for this is to go to a realtor and have them pull your credit report and go through their gesticulations to see what they come up with. Realtors tend to come up with high rates because they’re only looking at mortgage, and pretty much nothing else, such as taxes or utilities. So, if the number seems high, as in way more than you make, cut it in half and start from there.
2. Once you have a price range in mind, go online and look at some houses in your area that are around that price. You might have to check many different neighborhoods, which could possibly move you out of the neighborhood you were hoping for, to get more house, or a house that fits your standard better. In many places, houses will cost less in the city.
3. Interview at least 3 realtors before you select one. They don’t like this, but it’s imperative that you not only find someone you can talk to, but someone who will listen to you and look out for your interests. The first realtor we went to not only kept taking us to homes that didn’t fit what we were looking for, but took us to areas we said we didn’t want to move to.
4. Don’t even think about buying the first home you see. Even if it’s your dream home, you need to check out at least 3 to 5 homes before you make a decision. For most people, this is going to be easy, and you’re going to get depressed because many people end up looking at a lot of houses. This is why point #3 is important.
5. No matter what you find, you’re going to have to realize that you’re going to need money to put down on your home, and you’re going to need fix-up money, regardless of how well kept any house you see might seem to be. So, while you’re looking for homes, make sure you’re putting money away. At the same time, remember that each state has programs that can help first time or low income home buyers. In Illinois, a good place to get information from is the Illinois Housing Development Authority.
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Mitch writes on real estate, finance, and many other things.