Real Estate - 买房 - Buying a Home? Here's How the Proces
发表于 ： 2022年 8月 19日 08:27
Buying a Home? Here's How the Process Works
1) Plan ahead -- From the moment you think about buying a home, start
planning. Home buying is a time-consuming and demanding process, and it
behooves you to utilize your management skills early on.
Start by requesting a copy of your credit report. Carefully examine it for
errors, and clean it up before you talk to a lender. Are you currently
renting? Check your lease for an early release clause. If you'll be subject to
penalties, try to time your closing with the expiration of the lease.
During this planning phase, consider your life over the next five to seven
years. Do you plan to start or grow a family? Will an in-law eventually move
in with you? Will you be working from home? The number and layout of the rooms
you require will depend on your answers.
If you qualify for financing based on a dual income, will you be able to
survive on one salary in order to fulfill a long-range plan, such as one
parent staying home to raise a child? Once you've answered these questions,
establish a plan. Then direct the process with reference to the plan. Don't
let the process dictate to you.
2) Understand the home buying process. Homebuyers need to ask questions. Lots
of questions. So choose a real estate agent who has experience and is willing
to explain the entire home buying process-from viewing homes to negotiating,
to financing, to escrow and closing-in detail.
3) Stay within your budget when searching for a home. What can you do to avoid
becoming enamored with homes that are out of your price range? Monitor your
expenses for a couple of months. Then, based on your findings, develop a
budget that truly reflects your lifestyle. Talk to a real estate agent who can
provide insight into new home expenses and taxes. Then revise your budget.
It's smart to ask your lender to pre-approve, rather than pre-qualify, you for
a mortgage. Pre-qualification only tells how much you can afford. Pre-approval
goes a step further. Your lender will thoroughly evaluate your
application-including verifying employment information and financial
disposition-then clear you for a loan of a determined amount. Having your loan
pre-approved gives you a sizeable advantage: Your new status as a cash buyer
makes you more attractive to the seller.
Once you learn how much of a home you can afford, stay within your budget.
Just because you've been approved for a certain amount, doesn't mean you'll
feel comfortable with monthly payments at the high end of the range. Ask
yourself if you can live with these payments. Do they fit your established
budget? If not, rethink your spending limit. Your new home should give you
great pleasure, not hold you hostage.
When you relay your price range to a real estate agent, ask to view properties
within that range only. By restricting yourself, you'll avoid disappointment
later on.
4) During the home search think with your head, not your heart. Curb appeal
can be a powerful force. It's the buyer's kryptonite. By disengaging the
mental faculties, it leaves the homebuyer emotionally vulnerable. To counter
its effect, you must be objective. Brutally objective.
Look at many homes, including an assortment of types of homes. When you view a
property, list the positives and the negatives. Make certain your furniture
will comfortably fit into the space. Visit at various times of day to see how
much natural light floods the rooms and check for changes in traffic patterns,
especially at local rush hours. Have an inspector or engineer pick apart the
property. And recruit a friend to view the home and provide you with objective
feedback. Ask if he or she can picture your family living there and discuss
the whys and why nots. Jot down the points for later review.
Also, think about how long you plan to own the house. Would it be difficult to
resell? List the negatives. Could you eliminate or reduce them?
5) Investigate the area in which you are thinking of buying. Don't stop your
inspection at the property line. Examine the surrounding area. Is it safe,
well maintained and moderately quiet? Is it convenient to work, schools and
shops? Ask about zoning and that lovely forest of vacant land across the
street. Could the highway nearby be widened in a couple of years? How far is
the train? Within ear shot? If you're not familiar with the area, ask friends
and colleagues about it. Do your research.
6) Understand the financing. Here's where it helps to be a quick study.
Homebuyers have to contend with an assortment of mortgage types and the
associated jargon. Your real estate agent can be a great resource.
Get every detail in writing, in particular, the lock-in rate, points and fees.
And request a copy for your file. You should also request an estimate of your
closing costs, which generally run between 3% and 6% of your loan. Inquire
about prepayment penalties. Have the lender attach an addendum to your
contract that specifies that no penalties will be imposed for prepaying the
loan. This step could save you a good deal of money.
Before you get to the table, read all the documents related to the purchase of
the property, and have a professional review them. You're signing a binding,
legal document. Make certain you understand the conditions of the loan.
Most of all, remember to use your Prudential Northwest Properties agent as a
resource. Ask him or her to explain anything you aren't clear on. Your agent
is there to educate & guide you, and protect your interests.
1) Plan ahead -- From the moment you think about buying a home, start
planning. Home buying is a time-consuming and demanding process, and it
behooves you to utilize your management skills early on.
Start by requesting a copy of your credit report. Carefully examine it for
errors, and clean it up before you talk to a lender. Are you currently
renting? Check your lease for an early release clause. If you'll be subject to
penalties, try to time your closing with the expiration of the lease.
During this planning phase, consider your life over the next five to seven
years. Do you plan to start or grow a family? Will an in-law eventually move
in with you? Will you be working from home? The number and layout of the rooms
you require will depend on your answers.
If you qualify for financing based on a dual income, will you be able to
survive on one salary in order to fulfill a long-range plan, such as one
parent staying home to raise a child? Once you've answered these questions,
establish a plan. Then direct the process with reference to the plan. Don't
let the process dictate to you.
2) Understand the home buying process. Homebuyers need to ask questions. Lots
of questions. So choose a real estate agent who has experience and is willing
to explain the entire home buying process-from viewing homes to negotiating,
to financing, to escrow and closing-in detail.
3) Stay within your budget when searching for a home. What can you do to avoid
becoming enamored with homes that are out of your price range? Monitor your
expenses for a couple of months. Then, based on your findings, develop a
budget that truly reflects your lifestyle. Talk to a real estate agent who can
provide insight into new home expenses and taxes. Then revise your budget.
It's smart to ask your lender to pre-approve, rather than pre-qualify, you for
a mortgage. Pre-qualification only tells how much you can afford. Pre-approval
goes a step further. Your lender will thoroughly evaluate your
application-including verifying employment information and financial
disposition-then clear you for a loan of a determined amount. Having your loan
pre-approved gives you a sizeable advantage: Your new status as a cash buyer
makes you more attractive to the seller.
Once you learn how much of a home you can afford, stay within your budget.
Just because you've been approved for a certain amount, doesn't mean you'll
feel comfortable with monthly payments at the high end of the range. Ask
yourself if you can live with these payments. Do they fit your established
budget? If not, rethink your spending limit. Your new home should give you
great pleasure, not hold you hostage.
When you relay your price range to a real estate agent, ask to view properties
within that range only. By restricting yourself, you'll avoid disappointment
later on.
4) During the home search think with your head, not your heart. Curb appeal
can be a powerful force. It's the buyer's kryptonite. By disengaging the
mental faculties, it leaves the homebuyer emotionally vulnerable. To counter
its effect, you must be objective. Brutally objective.
Look at many homes, including an assortment of types of homes. When you view a
property, list the positives and the negatives. Make certain your furniture
will comfortably fit into the space. Visit at various times of day to see how
much natural light floods the rooms and check for changes in traffic patterns,
especially at local rush hours. Have an inspector or engineer pick apart the
property. And recruit a friend to view the home and provide you with objective
feedback. Ask if he or she can picture your family living there and discuss
the whys and why nots. Jot down the points for later review.
Also, think about how long you plan to own the house. Would it be difficult to
resell? List the negatives. Could you eliminate or reduce them?
5) Investigate the area in which you are thinking of buying. Don't stop your
inspection at the property line. Examine the surrounding area. Is it safe,
well maintained and moderately quiet? Is it convenient to work, schools and
shops? Ask about zoning and that lovely forest of vacant land across the
street. Could the highway nearby be widened in a couple of years? How far is
the train? Within ear shot? If you're not familiar with the area, ask friends
and colleagues about it. Do your research.
6) Understand the financing. Here's where it helps to be a quick study.
Homebuyers have to contend with an assortment of mortgage types and the
associated jargon. Your real estate agent can be a great resource.
Get every detail in writing, in particular, the lock-in rate, points and fees.
And request a copy for your file. You should also request an estimate of your
closing costs, which generally run between 3% and 6% of your loan. Inquire
about prepayment penalties. Have the lender attach an addendum to your
contract that specifies that no penalties will be imposed for prepaying the
loan. This step could save you a good deal of money.
Before you get to the table, read all the documents related to the purchase of
the property, and have a professional review them. You're signing a binding,
legal document. Make certain you understand the conditions of the loan.
Most of all, remember to use your Prudential Northwest Properties agent as a
resource. Ask him or her to explain anything you aren't clear on. Your agent
is there to educate & guide you, and protect your interests.