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Buying a house

Ready to buy a house?

Whether this is your first home or your forever home, purchasing a home to create memories is an emotional experience. Just the word “home” implies sanctuary–a place to rest and rejuvenate. It’s also a place to build community and live the life you are forging. In order to make this process as pleasant as possible, there are steps to be taken to make this transition as stress-free as possible and to avoid home buying mistakes.

1 – Buying a house is emotional

You will have waves of feelings about selling your former home and buying a new home. That is 100% normal and is part of the process. Having someone to counsel you through the different stages often provides a great sounding board. That’s where the right REALTOR comes into play, and the Yosha-Snyder Group is perfect for the job. They are skilled in navigating every stage of the purchasing process and will celebrate the joys of closing the deal with you because they understand the ins-and-outs of the adventure. Their expertise will help you when you get emotionally attached to a potential home. The hope is that all offers are always accepted, but reality says that isn’t, well, realistic.  So many parts of the negotiation are out of your control. Many times, making an offer and having it accepted is a waiting game of perfect timing. The Yosha-Snyder group understands this and is with you all the way. 

2 – Create a budget

This means having a realistic understanding of all of your finances. What have you saved for a down payment?  If you haven’t started that process yet, when can you start? How much can you reserve? The larger the down payment correlates, in part, to a lower monthly mortgage payment. Saving early makes living in your home more affordable in the long run. Once you have the down payment secured, the next step is to think about the rest of your expenses. What will moving to your new home cost?  What are the closing costs? What expenses are associated with the new house? Do you have access to the projected utility bills of the new house?  What enhancements do you want to undertake? What is the long-term plan for your new home? All of these factors affect the risk in purchasing a home.  Remember, buying a house is an investment and you don’t want to overextend your budget. Considering your finances should be part of the realistic conversation of home ownership.

3 – Stay focused on the necessary expenses.

Looking for a house and making an offer is exciting. The real work for making the house your home is connected to two things: the home inspection and loan eligibility.  Generally, the home inspection is the buyer’s responsibility.  Why?  Because you want to know what you are getting. The inspection tells you that with an honest report. You’ll know the details about the house that might not be visible just by walking through and looking. The inspection will tell you the status of the roof, the foundation, the plumbing, the electrical wiring, the HVAC, and more. The minor things will be on your to-do list later; the major things will be negotiating items with the seller which might influence the final purchase price. While the inspection cost is an initial investment once the seller accepts the offer, the financial benefits at the closing table are important.  And the other necessary expense is directly related to the long term cost of the house. The rare buyer can write a check for the whole purchase amount.  Most buyers need a mortgage to buy a house. This means taking the time to research loan eligibility and shop around to find the best rate.  In both of these cases, working with a REALTOR to help direct the research takes some of the intricacies of finding the right loan and getting pre-approval.

Buying the right home at the right time for the right price is an adventure.  Choosing the right person to go on this adventure is important. Trusting the Yosha-Snyder can help with navigating the emotional rollercoaster of home buying and make the experience both enjoyable and financially beneficial.

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