Step 1: Decide to Buy
How do you know if it's the right time for you to buy? There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances. A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several financial benefits, equity build up, value appreciation, automatic savings plan, not to mention a new sense of pride. Start looking at your options today. You don't have to know everything. Newshire is here and ready to help you navigate through every step of the process.
Step 2: Hire Your Agent
When you're looking for a real estate professional to help you, know that above all else, good agents put their clients first. This is your dream, Newshire agents are your advocate to help you make your dream come true. Newshire agents are experienced professionals who will:
- Educate you about the current conditions of the market.
- Analyze what you want and what you need in your next home.
- Co-ordinate the work of other needed professionals throughout the process.
- Guide you to homes that fit your criteria and budget.
- Negotiate on your behalf to get you the best deal possible.
- Check and double-check paperwork and deadlines.
- Inform and discuss with you, and suggest solutions to solve any problems that may arise.
Step 3: Secure Financing
Make the financing process as painless as possible. Ask a Newshire agent to introduce you our network of experienced financing consultants. These lending professionals will work with you to make sure the financial aspect of your home purchase is stress free. What will the financing consultant do for you?
- Review your current financials.
- Discuss the options available to you during the home purchasing process.
- Guide you to an appropriate price point.
- Negotiate on your behalf to get you the best deal price, interest rates, loan approval.
- Keep you informed and updated of the entire financial process throughout your purchase.
Step 4: Find Your Home
How or where do you start? There are a lot of homes out there, and diving in without a guide can become overwhelming and confusing. Newshire agents will help you more accurately pinpoint homes that fit your criteria. You'll learn as you look at homes and your priorities will probably adjust along the way. You might have to think:
- What amenities are crucial for you and your family?
- How much space do you need and why?
- Which is more critical: location or size?
- Would you be interested in a fixer-upper?
- How important is home value appreciation?
- Is neighborhood stability a priority?
- Is accessibility to main routes a priority?
- What features are not negotiable in your new property?
Step 5: Make an Offer
You found a home you love. The next step is deciding on a price. It's important to remember that a home is an investment. Newshire agent can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. We will guide you through the offer process. When deciding on the best price:
- List price - Start with the price point that the home is listed at. This will give you a base when looking at the home's value.
- Market Analysis - Newshire agent will give you an idea of comparable home values in the neighborhood to help you decide if the price point is on par.
- Improvements - Newshire agent can give you a list of improvements made to the home and help you determine its market value.
Step 6: Perform Due Diligence
Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction. Very often a problem appears to be big, but can be fixed with very little effort and within a reasonable budget. Newshire agents can recommend certain improvements that will build value in your home, while pointing out potential challenges within your home. This way you'll know what you are getting into before you complete the purchase.
Step 7: Close
In order to ensure that you don't put the property purchase at risk, you have a couple of responsibilities that you'll need to keep in mind:
- Staying in control of your credit and finances - Do not make any large purchases during this time. It's important to keep your financials steady throughout the buying process. Talk to your financial consultant for guidance.
- Keeping in touch with your agent and financial consultant - It's important to stay in constant communication with your agent and financial guide during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. Newshire's team of professionals are here to help you.
Step 8: Protect Your Investment
The home-buying process is complete, it is time for your maintenance plan. It is now your responsibility, and it's in your best financial interest to protect your investment for years to come. Perform routine maintenance in your home, watch for signs of leaks, damage and wear. And remember, just because the sale is complete, your relationship with your real estate agent doesn't need to end. After buying your home, you can count on Newshire agents to continuously provide you information on the real estate market, finding contractors and repair services, and even tracking your home's current value.