On the Path to Home Ownership

Are you interested in buying a house? Are you on the path to home ownership? If your answers are yes to both here are a few steps that can make this process a lot easier for you.

Step 1: Pre-Home Search

This is the first step before you even begin looking at listings. You must first determine if you are ready to make the leap and become an official homeowner. One of the best ways to do this is to search online to determine the type of home you like and dislike.

You must also start thinking about money! Make an appointment with your financial advisor to get your credit report. Your financial advisor will also be able to give you information about loan programs as well as what your mortgage loan pre-approval will be. This will give you a very clear idea of what you will be able to afford, and it will help narrow down your search.

You must then get in contact with a real estate agent. Researching the right agent is key! Ask your friends and family members for referrals.

Step 2: Searching for a Home

This is the fun part! Once you know what you can afford and what you are interested in buying, all you need to do now is to look at listings. Call to make appointments to visit the homes in person.

If you think that you have found a home that you would like to purchase, don’t forget to talk to the neighbours and always keep your finances in line!

Step 3: The Pre-Offer

These next steps should be taken before making an offer on your home. Firstly, determine the offer price and the contingences (such as the appraisal contingency and the financing contingency). Once this is done, make an offer!

If the offer is accepted… Congratulations! You’re new homeowner!

Step 4: Owning a Home

Once your offer is approved, don’t forget to hire an inspector, get the home appraised and sign the closing and the mortgage documents. After this is done, you’re ready to move in!