We understand that for first time buyers, shopping for a new home can be an exciting and overwhelming experience fraught with emotions. Today, we offer some pointers on house hunting to help ease the process:
Set Your Budget
If you have not prequalified for a loan, complete this process first. You must be aware of your budget, and we recommend starting out by shopping at the lower end of your budget. If you find a home you love within this range, you are all set! If these homes are not quite what you are looking for, then you can look into a higher range in your budget.
Approach Fixer Uppers with Caution
We’ve all heard certain homes referred to as money pits, and for good reason. Although the initial price of a house in need of repair can be cheap, the repair costs can quickly add up until you are in over your head. Additionally, repairing a home can deplete all of your personal time. Are you absolutely sure that you have the time and financial resources to buy a fixer upper?
Flexibility is Key
Is there a certain type of house that you really favor? Many neighborhoods feature several homes with similar models, so look around to see which home fits your lifestyle and budget the best.
When you’ve been looking at houses for awhile, you might lose patience in the process and want to buy a halfway decent house because you feel that you are running out of options. However, new houses appear on the market everyday, so you don’t want be stuck with a house that you don’t really care for. The perfect fit could appear on the market the next day, so stay patient!
Our mortgage brokers can help you find your best mortgage rates today for the home of your dreams. Contact our Arizona mortgage brokers today for more information.