How to Kick Off a Successful Homebuying Journey

Buying a home should be a fun, exciting experience, one that ends with you moving into your dream residence. However, problems sometimes can arise that prevent you from accomplishing your ultimate goal.

No homebuyer should be left in the dark, especially when it comes to navigating a competitive real estate market. Lucky for you, we’re here to help you kick off your homebuying journey on the right foot.

Now, let’s take a look at three tips to help you launch a successful homebuying journey.

1. Know Your Homebuying Budget

You know that you’d like to buy a house, but how much can you afford to pay for a residence? With a homebuying budget in place, you can determine exactly what you can afford.

Getting pre-approved for a mortgage enables you to enter the real estate market with a budget in hand. Many credit unions and banks are available nationwide, and each lender is happy to provide details about a wide range of mortgage options. That way, you can select a mortgage that matches your finances perfectly.

Also, don’t forget to consider the costs of utilities when you budget for a home. And if you need to commute to work or school, you may want to consider your transportation expenses as well.

2. Examine the Housing Market

The housing market usually features a large collection of high-quality houses. Take a look at some of the houses that are currently available, and you can better plan for your homebuying journey.

For example, if there is an abundance of homes available in a city or town where you’d like to live, now may prove to be the ideal time to enter the real estate market. The sheer volume of residences indicates a buyer’s market may be in place, so you might be able to boost your chances of acquiring an exceptional house at a budget-friendly price.

On the other hand, if homes are selling quickly in a particular area, it likely means a seller’s market is in place. As such, you will need to be aggressive if you want to secure your dream residence at an affordable price.

3. Consult with a Real Estate Agent

The homebuying journey can be daunting, particularly for those who are interested in purchasing a house for the first time. Fortunately, a real estate agent can help you seamlessly navigate the homebuying journey.

A real estate agent possesses comprehensive housing market experience. He or she can share real estate insights with you to ensure you can purchase a great house that meets or exceeds your expectations.

Furthermore, a real estate agent will keep you up to date about new properties, set up home showings and negotiate with home sellers on your behalf. And if you ever have concerns or questions, a real estate agent can respond to them immediately.

Ready to make your homeownership dreams come true? Use the aforementioned tips, and you can enter the real estate market as an informed homebuyer.

How To Buy And Sell A Home At The Same Time

Although being a first-time buyer can seem overwhelming, there was one advantage to the entire process: You didn’t need to sell another property. If you would like to move out of the home that you’re currently living in and are in the process of buying a new place, your life is about the get complicated! Hold tight to your realtor and get ready for quite the ride. 

Since it’s often unrealistic to pay two mortgages at once, there’s a certain way that you must complete the transactions so as not to cause a huge financial headache when moving from one place to another. Unfortunately, you’re going to have to deal with buying a new home and selling your current one simultaneously in most cases.    

The good news is that it can be done! Read on for tips to find out how you can make the process go as smoothly as possible. 

First, you’ll want to understand the housing market that you’re in. You’ll know what strategies you need to employ if you understand the type of market that you’re dealing with. If the two homes are in completely different areas, this research will be even more important to you. 

Buying

While you’re searching for a new home and selling your current one, you’ll want to leave your options open. That means not locking yourself down to just one home. Of course, you’ll only put in one offer at a time, but knowing what’s out there for you to buy is important in case the purchase falls through on the first prospective home. This way you won’t have much chance of being “stranded” once your old home sells. 

Selling

You want your home to be sold in a timely manner. This means that your old home should be well-priced and ready to sell. Work with your realtor on staging, pricing, and holding open houses. The more effort that is put into marketing your home, the better chance you’ll have of selling it. Extra time on the market means that you’ll have a bigger headache when it comes to buying your new home. Selling quickly is not a bad thing so long as you have some other place to live. You can also put a contingency in the sale stating that you need to find suitable housing before you can move. Realtors can do a lot when their sellers are cooperative and proactive.           

Should You Buy First?

If you sell your home first, you’ll have an easier time getting a mortgage on a new home. The problem here is that you’ll need to find some sort of temporary housing before you even head out on the house hunt.

If you buy a home fist, your buying power may be less than if you sold your current home. Your debt-to-income ratio will be higher, giving you less money to spend on a new home.

While buying and selling a home simultaneously can be complicated, if you strategize correctly, you’ll be able to go through the entire process with ease.   

 

Reasons To Live On A Cul-De-Sac

When you’re searching for a house, the location is often key. Maybe you have found homes in your desired city or town. Yet, all homes are not created equal. Locations aren’t created equal either. There’s advantages and disadvantages to the type of street that a home is on. If you’re on a main road, you may have more accessibility to what you need, but traffic noise could be a negative aspect of this living situation. Living on a cul-de-sac gives you the best of both worlds. You can be in your desired location, but also enjoy some peace and quiet. Your kids will even have a fairly safe space to play on without worry on your part about traffic conditions. Here’s some of the best reasons to find a property on a cul-de-sac:

There’s No Through Traffic

No one will be using your street as a shortcut for anything, since it’s a dead end! This provides a safety net for you as you’ll know the types of vehicles that should be on the street at any given time. Neighbors can be mindful if they happen to see strange people or vehicles lingering in the neighborhood. This allows streets with dead ends to have lower crime rates. Everyone is more alert, because there’s generally so little happening on the street that any activity is noticeable. Criminals also tend to shy away from these types of neighborhoods due to the fact that people are much more aware.  

It’s Better For Children

You always need to watch your children and teach them basic safety rules. Living on a cul-de-sac may actually help relieve a bit of the burden in allowing your children to play more freely. Cars that are traveling down the street won’t be doing so as fast. Your children will be visible right form your home as well.  

Also, since everyone lives so close together and basically in a visible range of one another it’s easier to develop neighborhood friendships. Children will be able to play with other kids their own age and have a common meeting spot- at the end of the street! Even as a parent, you’ll have a better opportunity to get to know other parents and meet up with those in the neighborhood. There’s just something about living on a dead-end street that allows for a more tight-knit community.

Home Values Rise

All of the positive things that we have emphasized here about living on a cul-de-sac are part of the reason these properties keep their high values. With better curb appeal, more safety, and a strong sense of a community, it’s hard to pass up a chance to live on a cul-de-sac.

Key Questions to Ask Before You Search for a Home

Purchasing a residence can be quick and simple, particularly for those who know the ins and outs of the housing market.

At first, navigating the real estate market may seem impossible. Fortunately, homebuyers who consider the right questions before they browse residences can streamline the process of acquiring a house.

There are many key questions for homebuyers to consider prior to entering the housing market, including:

1. Where Do I Want to Live?

When it comes to the real estate market, it is all about location. Thus, you’ll want to consider where you want to live and plan accordingly.

For example, if you enjoy the city life, you may want to purchase a house in a major metropolitan area. Or, if you prefer quiet country living, you might pursue houses in small towns.

Consider your current and future living situations as well. If you want to work in a particular city or town, you may want to purchase a nearby home. Or, if you plan to have children in the future, you may want to consider properties near schools.

2. How Much Can I Afford?

Unfortunately, bad credit may hinder your chances of securing your ideal residence. But if you know your credit score, you can work to improve it prior to searching for a house.

You are entitled to a free copy of your credit report annually from each of the three reporting agencies (Experian, TransUnion and Equifax). Request a free copy of your credit report, and you can learn your credit score and find out how it may affect your ability to buy a home.

Also, getting pre-approved for a mortgage may make it easy for you to secure a house that matches your budget. With a mortgage in hand, you’ll be able to browse homes within a set price range and find one that you can enjoy for years to come.

3. How Do I Get Started?

Let’s face it – the real estate market can be complex, but there are many ways to simplify the process of obtaining the perfect residence.

First, create a list of must-haves for your residence. This list will help you narrow your search and determine exactly what you’d like to find in a dream home.

Don’t forget to work with an experienced real estate agent, either. This real estate professional can offer support in many areas and ensure that you can explore a wide range of houses at your convenience.

Your real estate agent will help you set up home showings, submit offers on houses and handle negotiations with home sellers. Plus, if you ever have homebuying concerns or questions, your real estate agent will be ready to respond to your queries immediately.

Employing a real estate agent enables you to get your home search started on the right foot. With a real estate agent at your disposal, you can learn about all aspects of the homebuying process. And as a result, you can streamline the homebuying process and find your dream home quickly and effortlessly.