This is your home we’re talking about. Where you will take refuge after an exhausting day of work. Where you will entertain your friends and (gulp) your in-laws. Where your kids will learn to ride a bicycle.
We know that choosing a home in Austin is one of the most important decisions you can make, and we take pride in guiding you through the process of finding that special home where so many of your best memories will be made. Here are 5 steps you can take to ensure a stress-free home purchase.
Lay the financial groundwork
As you gear up to purchase a home, start collecting your financial documents, such as bank statements, tax returns, pay stubs, etc. Your lender will want to see these documents as part of the loan process.
Also be sure to avoid big purchases until you've met with a mortgage professional. Adding to your monthly payments can affect your ability to get a loan. And stay current on any payments, as one late payment can derail funding for your new purchase.
If you can, start saving as early as possible to ensure you have adequate funds for a down payment and moving expenses. These steps will make your loan application process easier, and you'll be able to start house shopping right away.
Work with an experienced Realtor
An experienced Realtor will guide you through every step of the purchase process. They are a vital part of helping you identify the essential characteristics of your perfect home and finding the right neighborhood. An experienced Realtor will be able to provide valuable insight into market conditions. Look for someone who has a track record of success and positive reviews from past clients.
In almost all circumstances, the seller pays the real estate commission for both their own agent and the buyer's agent. This means you get to reap the benefits of working with a Realtor for no out-of-pocket expense. Whether it's finding the best mortgage broker or helping you negotiate through a multiple offer situation, your Realtor will be there to help you succeed.
Ask questions and communicate any concerns. If something in your contract seems confusing, ask about it before you sign. You don't want to have questions after you've committed. Pick a communication method since there will be a lot of back and forth between you and your Realtor. Finally, be direct with your team and don't hesitate to speak up if you don't like something.
Be patient, persistent, and decisive
Buying a home is an important decision. In fact, for many people it’s the largest financial purchase they’ll make in their life. Because of that, finding the right home can take time. Be prepared to balance patience with your ability to be decisive when you find the right home. Depending on market conditions, your first offer may not get accepted but be persistent. Trust your intuition when you've found the right house and go for it!
Remember, you can always update your home, the neighborhood may change in a few years, or you may decide to move again, so this might not be your final home. Besides your financial capabilities, almost everything else is beyond your control so be flexible with the process.
Not sure what to do next? We offer free, no BS consultations to get you started. Reach out by phone, text or email to chat with one of our experienced Austin Realtors today.