Since this is one of the largest purchases you will ever make, you’ll want to spend some time making a list of your wants and needs and then prioritizing them. This will help to ensure you purchase a house you’ll be proud to call home.
Making sure you can pay your bills once you buy the home of your dreams is a key factor in determining your price point. Take a look at your monthly budget and figure out what’s left after you pay all of your current bills. That’s how much you’ll have each month for your new home plus the expenses that come with owning your own home.
Prior to looking at any homes, you’ll need to choose a lender. You should talk to at least two and choose one with competitive rates and competitive closing costs. Be sure to choose someone you’re comfortable with since you’ll be asked to share all of your financial information. Your lender will help you determine how much you’re able to spend on your home and which home loan is the right one for you.
You have the right to your own representation when you buy a home. In order to create an agency relationship with your real estate agent, Idaho law requires that relationship be agreed to in writing. Be sure to choose someone who listens to your wants and needs when it comes to buying a home and one you can trust to give you honest advice when you need it. When you call PowerHaus Real Estate Services, we’ll do everything we can to protect your interest and make your buying experience a great one!
In today’s market, it’s critical to be pre-approved for your loan before you go house hunting. Many properties receive multiple offers and being pre-approved may make your offer more competitive.
Now that you’ve found the right home for you, it’s time to make the offer. We will guide you through the contract but it’s best if you have previously reviewed the blank contract form we’ll provide ahead of time. There are a few things to consider in addition to the price. Some of these decisions include: earnest money deposit amount, contingencies, items in the home you would like to specifically include or exclude from the sale, title company to perform the closing, whether to have the home inspected and what types of inspections, choosing the closing date and more.
The seller may accept your offer, the seller may counter your offer with a different price or terms, or you may not receive a response at all. This is not personal. Our market can move fast and if a home seller receives multiple offers they may not respond to all of them. When making your offer, it’s best to remember that everything is negotiable, not just the price. Price isn’t always the most important factor in negotiations.
The home inspection will make you aware of any major issues in the house. We have a list of preferred home inspectors we provide our clients or you may want to check the American Society of Home Inspectors website for a list of accredited inspectors.
We will provide you with a list of phone numbers so you can call the utility, phone and cable companies to have your name transferred to your new address. Do this approximately one week prior to closing. You will receive a preliminary settlement statement prior to closing which will list all of your closing credits and costs and will provide a final amount that you will be responsible to bring to closing. We will review this document with you to be sure you know exactly what to expect.
All that’s left now is to unpack and love your new home!
