Finding Your Dream Home: Important Steps to Follow
When it comes to finding your “dream home”, you may think that all you have to do in find a realtor, find the money, and find the home. However, it’s sometimes easier said than done, especially if you get stuck in the searching process. Here are some steps to follow and tips to help you when finding your “dream home”!
Why are you looking?
This question may seem redundant, but when you start the house hunting process, you have to decide why you’re hunting in the first place. Are you looking to downsize, to upgrade, to move neighborhoods? If you’re a first-time homebuyer, you’re probably not in the market for your “dream home” just yet, but this could be something to think about and strive for in the future. But if you don’t stop and ask yourself why exactly you’re looking and what exactly you’re looking for, you can end up looking at homes larger or smaller than you want, in an area you don’t want, or without the features you desire.
This may seem like a no-brainer, but when you get excited and head straight to the Internet to start looking at dream homes, it’s easy to get attached to a home that you can’t afford without even realizing it. This is why any smart Realtor will tell you that you absolutely have to get pre-approved before looking! Meeting with a lender for pre-approval will give you a solid idea of what you can afford ahead of time, in order to make competitive offers in this competitive market.
Find a Real Estate Agent
This one may also seem like a no-brainer, but it’s also one of the first and most important steps in the process of finding your “dream home”. Many consumers really underestimate the power of a good Realtor, but they are ultimately the one who will go to bat for you as a buyer in this competitive market with pre-approvals, approvals, offers, and counter-offers. The Realtor’s job is to work for you to get you the home you want in a timely manner and going about the home-buying process alone is a definite disadvantage!
Make a List of Your Needs & Wants
Just like figuring out why you’re looking, you also want to start by figuring out what you’re looking for! It’s easiest to start out by sitting down and making a list of what you want versus what you need. Do you need a larger garage, more bedrooms, less square footage? Do you want a porch, a pool, a finished basement? Where do you want to live? Is school district important? At the end of the day, what you really want and need is what’s important to making sure your new home is indeed your “dream home”!
Look at What’s Available
When you start your dream house hunting, it’s important to see what’s out there! Just like pre-approval, it’s easy, and potentially dangerous, to get stuck on a picture in your head of what you want just to look and realize that that’s not available in your current price range. You’ll want to look and see what’s available in the current market at your price range to get a gauge for what will be available.
Make an Offer
Once you’ve found your “dream home”, it’s finally time to make that offer! Your Realtor will be able to work with you to flesh out the details and come up with an offer that you can afford and that will be competitive in winning that home!
This is perhaps the hardest part of the home-buying process. Once you’ve found your “dream home”, it’s hard to think that you may have to make an offer and wait to see what happens. During this time, it is important to be positive but also be realistic. Be prepared for both outcomes; your offer may be accepted and you may be scheduling a closing date, or your offer may not be accepted and you might be back to the drawing board. Whatever it may be, just remember that finding your “dream home” may take time but your Realtor is there to help guide and support you through the process!
If you’re in Louisville or surrounding areas, The Elizabeth Monarch Group is the team of experienced Realtors that will help you with finding your dream home! Whether you’re buying or selling, The Elizabeth Monarch Group will be there from listing to closing and after! We provide buyers and sellers with professional service throughout the buying and selling process and help in guidance with things such as repairs and upkeep with our Trusted Affiliates program. If you’re in the market to sell or buy a home, contact us today! Check out our website at www.theelizabethmonarchgroup.com!