Buying a home is often the biggest investment someone will make in their lifetime. It’s natural to have questions about the home buying process and how it all works. If you’re looking to jump into the world of homeownership, you’ve come to the right place.
From searching for homes for sale to the inspection and closing, we’ve rounded up everything you need to know about how to buy a house. This quick guide will make buying a home simpler. Let’s jump in and get house hunting.
Home Inspection
Before you officially buy a home, you’ll want to have a home inspection done. A home inspector will look for any major red flags and issues you should be aware of before you buy. This gives you some major peace of mind before you complete your closing.
Your inspector will look at the condition of the exterior of your home, the insulation, the plumbing, and electrical systems, and more. They will test appliances, heating, and cooling systems, as well as the condition of your walls, foundation, and floors. After the inspection, you’ll receive an easy-to-read report.
Negotiations
After your inspections, you may have items you wish to bring up to the seller. If a repair is more than you were planning on or if something is severely damaged or broken, you may be able to have the seller fix it or give you a credit after the sale.
These are some of the final negotiations before your closing. Any credit or repairs are discussed now so that both parties are able to back out of the deal if necessary. If all goes well, any credits or repairs are agreed upon and you await your financing completion and closing day.
Creating a Home Buying Checklist
After you’ve gone through inspections, you’ll want to create a checklist or to-do list. Your to-do list could include changing your address, mail forwarding with the postal service, hiring movers, and changing over your utilities.
Many of these items won’t get completed until after you’ve moved but it’s good to get a jump on them. You’ll want your utilities set up shortly after you move to avoid loss of power. You’ll also want to give yourself plenty of time to get moving supplies and hire movers.
Closing is the Final Step in the Home Buying Process
Closing day is an exciting one for any new homeowner. This is the day you finalize all your paperwork and get the keys to your new home. If you’re getting a mortgage, this is also when your financing paperwork is completed, and the funds are transferred to the sellers.
If you are paying cash for a home or have a down payment, this money is also wired to the closing. Your realtor and mortgage lender will communicate your final figures and closing to-do list in advance, so you know what to expect. Once you’ve signed what may feel like an endless stack of paperwork, you’re a proud new homeowner.
Start Searching for Homes for Sale
Wherever you are in the home buying process, enjoy it. This is a stressful yet exciting time. From the inspection to the closing follow these quick tips to make the process a little easier.
If you’re looking for more home and real estate tips, check out the blog section. You’ll find ideas, guides, inspiration, and more. Happy house hunting.
