Main Content

Home buying 101

Buying a house can be both exciting and overwhelming. Knowing what to expectas you sort through homes for sale in Warner Robins, GA can help to make this
process easier. Here is what you should know about buying a house.

Determine your needs and wants

First, determine things you need in a home versus what you want in it. Needs could be something a home must have such as a number of bedrooms, a large, fenced-in yard, and a basement. Wants may be things in your wish list like a fully updated kitchen or hardwood flooring throughout the home. Your wants may not be deal-breakers while your needs may be. Write down your wants and needs then share these with your real estate agent. Speaking of a real estate agent…

Find a reputable real estate agent

This kind of agent is a valuable asset in the home buying process. These professionals understand how the real estate market works. The right one will point you in the right direction. Real estate agents know the home buying process, how to negotiate, and will work on your behalf to ensure that you find what you’re looking for.

Save for your down payment

Most lenders require at least a 20% down payment when you purchase a home. It would be wise to create a separate savings account where you can set money aside in preparation of your forthcoming investment.

Get pre-approved

A pre-approval is made by a lender to determine how much of a mortgage you are eligible for. They will go through your credit and other factors such as your down payment, your total debts, and if you’re a first-time buyer. The amount that you are pre-approved for is generally good for around 90 days.

Tour different homes

Take time to schedule viewings for homes that you like. In these viewings, you can personally assess these homes and see if they are the right fit for you. As you tour, don’t be afraid to test light switches, open closets, and check the plumbing. Also, make sure to observe the neighborhood and check out the culture, constructions or developments in the area, nearby schools (if you have kids) and usual conveniences.

Make an offer

Once you find the best home for you, then make an offer. You can work with your real estate agent to determine a fair price. Then your agent will submit the offer. There will most likely be some negotiations on the final price from the seller. Once a price has been agreed upon, the house will go into escrow.

Secure your mortgage

After your offer has been accepted, secure your financing by completing your mortgage application. If you have not been pre-approved yet, this process could take a little longer.

Have the home inspected

The home inspection brings to light defects that may or may not have been noticed earlier. You will be able to determine if you want to have the issues fixed by the seller before closing or if you can deal with fixing them yourself, among many other considerations.

Close on your new home
The last step is closing. This is when all of the paperwork is signed before a notary. Once the paperwork is signed, the utilities are changed to your name and you receive the keys.

Buying a home can be a complicated process but knowing what to do can make it less stressful. Wingate Custom Homes can provide you with a wide selection of new construction and townhouses for your real estate needs in middle Georgia. Contact us today by clicking here.