You've been online; you've been perusing the websites and looking at homes in your price range.
What is your price range? Many buyers have a solid idea of what price range they should be looking. The best way to know would be to contact a buyer's agent and have them set up an interview with a mortgage person. New restrictions and loan to value ratios may mean that the loan you thought you qualified for is not the loan you'll receive. Interestingly enough, you may actually qualify for much more than you are comfortable taking on.
After getting pre-approved, you and a trusted buyer's agent can decide within the parameters of your pre-approval a comfort zone, for price range. You will need to decide what on your "wish list" is a must and want is simply a desire. Do you absolutely have to have finished basement? Do you need a 3 car garage, or can you make do with 2? There may be a perfect house out there that has everything but that 5th bedroom you want. Can you adjust your "wants" to get everything else you need? Some trade-offs in your wants can really pay off when you go to resell!
There are many decisions to be made when you decide you want to buy a home. Let a buyer's agent help you make the right decisions.
A good agent will be happy to sit down with you for a free consultation to see if you are a good fit to work together.
Susan C. Mangigian
1595 Paoli Pike, Suite 101,West Chester, PA 19380
610-719-1700 main office, 610-299-6237 cell
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Agreed Susan. Buyers need to know what they can comfortably afford. We always send our buyers to a mortgage broker before we see any homes. Good stuff.
Hey Susan, how the heck are you, looks like your doing well, but that is no surprise. Enjoyed your fb posts through the holidays, nice having the family around isn't it. Keep well my friend...
Susan,
You're right on target. That potential buyer needs a prequal first before getting started... g
Jared, thank you. Great minds think a like!
Gerry, It was great having family around Gerry. And exhausting! I hope you are well and hope to see again soon!
Cherise, it's the very first step, although I will sit down with the buyer myself first if they are more comfortable and have a consultation of their needs.
I will meet and even show a home before that step happens. I get wonderful results when I actually meet with them face to face and give them my lender list and explain the importance of being ready to make that offer and knowing what they can afford. Excellent post.
And in the West Chester area call Susan, the pro in many things, but for sure with being a buyer's agent.
Tammy, I meet people first lots of times too. I never consider it a waste of my time to sit down or even show one or two houses to someone so that we can get to know each other.
Gary, thank you Gary! I feel the same way about your next of Texas!
Susan What a great post ! It really gives the ABC's of buying a home
Hope to see you soon
Hannah
Working with a buyers' agent is absolutely the best thing you can do when looking for a home. They will guide you throught the process and help you avoid so many surprises
Susan, I think you summed it up pretty well. Regardless of all the information that's out there for the public, our buyers (and sellers still need a lot of handholding.
Susan - Thank you for sharing detailed quality information on first steps to buying a home.
Jane, Agreed!
Donald, thank you. Yes they do.
John, thank you for the comment.