Buying a home is an exciting time, but it can also be overwhelming and even a bit scary. By having a clear understanding of what to expect as you enter into the home buying process, you will be less likely to be uneasy and uncomfortable with the process and more likely to fully enjoy this special moment in your life. To that end, here is a look at a basic home buying guide that can help you complete the entire process as smoothly as possible.
Step #1: Decide What You Want
Before you start looking at homes, you need to create a relatively clear picture of what you want in your home. Sit down with any other people who will share the home with you and make a list of the features that you need as well as a list of those that you want. Next, prioritize the items on the “want” list so you can have a better idea of what you are willing to sacrifice in order to fulfill your needs. This list will also be helpful when you meet with a real estate agent, as it will help him or her narrow down your choices to homes that will truly suit your lifestyle and needs.
When deciding on the features that you want in a home, you will also need to decide on the type of home that you want to purchase. If you want a low-maintenance home, a condo might be your best option. On the other hand, if you want plenty of yard space and privacy, a luxury single-family home is probably your best choice.
Step #2: Explore Financing Options
Now that you have a clear idea of what you want and need in a home, you need to take a closer look at your financial situation. This will help you determine what you can actually afford to purchase. This process may be a bit disappointing because you might discover that there are certain “wants” that you cannot afford. Or, you might find that you need to make some adjustments to your financial situation before you can purchase the home that you desire. Nonetheless, having a clear idea of what you want in a home will help you determine how to adjust your financial goals so you can by the home you desire.
Step #3: Contact a Real Estate Agent
Now is time for the fun to begin. After contacting a real estate agent, you will be able to start looking at the houses that are available within your price range. As you are looking, make note of the features that you like the most and make adjustments to your “needs” and “wants” lists as necessary. Be sure to communicate these changes with your real estate agent so he or she can further narrow down your choices to find the perfect home for you.
Step #4: Make an Offer
Once you have found the home that you want to purchase, it is time to make an offer. With the help of your real estate agent, you can create an offer that includes specifics about how much you are willing to pay as well as what is to be included in the house. The seller may reject or accept your offer. If the offer is accepted, you can move on to closing on the house. If it is rejected, you can put in a different offer and try again. This is where having an experienced real estate agent is important, because he or she can help you negotiate the best deal possible.
If you are interested in exploring luxury real estate options in Irvine, contact our team of knowledgeable real estate agents today. We will be happy to help you with all of your real estate needs.
Check out these Irvine homes priced from $5 million to $10 million
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(all data current as of 7/24/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.