The home search checklist is a list of things you may need to start the process of buying a new home. This can be a daunting and confusing process, but it doesn’t have to be! In this article we’ll go over things that you should do before starting your house hunt, what to look for in houses, how much can be afforded on a budget, and more.
Important To Have Some Information
Be prepared to answer the following questions:
- How much can you afford to spend?
- What are your preferences and needs? (e.g., location, size of home, number of bedrooms/bathrooms)How much time do you have to find a home? (e.g., two weeks or six months)
- What is your credit score? (If it’s good, know that lenders will be more willing to work with you.)
- Are you a first-time home buyer who may not know as much about mortgages or financing options as experienced buyers do, this isn’t necessarily a bad thing! More knowledge and research ahead of time can help ensure success down the road when closing on that dream house.
Financial Situation
- Check your credit score.
- Find out how much you can afford.
- Set a budget and stick to it, even if you have to make sacrifices in other areas of your life in order to save up enough money for a down payment on a home purchase.
- Check the balance of your savings account (and any other assets), and make sure there’s enough left over after paying off existing debts like student loans or car payments so that there’s still some wiggle room for closing costs and moving expenses later down the road when it comes time for those things, which will be important!
Preferences and Needs
- What you want and need in a home
- How many bedrooms and bathrooms do you want
- How much space you need
- How far you are willing to travel to get to work? If you commute by public transit or carpool, this might be less important than if it’s just your car and yourself.
- Your budget for buying a home (this is often referred to as “affordability”).
- Your ideal location: city vs suburb vs rural area; whether there are good schools nearby; etcetera.
Experience with Buying or Renting Before
If you’re a first-time homebuyer, renting can be an excellent way to gain experience and learn about what it takes to live in a property. If this is the case for you, consider looking for apartments or townhouses that are similar to your dream house in size and price range.
If this is not an option for whatever reason (e.g., moving across the country), look into renting from friends or family members who live near where your new home will be located. This will allow them time get used to their new house before having someone move in with them!
Checklist for Home Buyers
Before you begin your home search checklist, it’s important to make a list of all the things you need to buy and do. This includes:
- Furniture, appliances, and other household items
- Home maintenance supplies (e.g., paint for the walls)
- New clothes/shoes/accessories that will match your new space
First Time Home Buyers
- Get pre-approved for a mortgage.
- Get a home search checklist inspection. This will give you an idea of what repairs need to be made and how much they’ll cost, as well as alerting you to any potential problems with the structure or foundation of the house.
- Get a home appraisal. The appraisal determines how much money your lender will lend on the property based on comparable homes in its neighborhood, which makes it easier for buyers to know what they can afford before making an offer on real estate (and ensures that sellers don’t price their homes too high).
- Hire an attorney who specializes in real estate law and has experience with short sales and foreclosures so that he or she can review all documents related to closing on your new home before signing them, this way there are no surprises down the road!
Conclusion
The key to a successful home search checklist is having a plan in place. You have to know what kind of house or apartment you want before you start looking at properties so that when one comes up for sale that fits your criteria, you can act quickly and decisively on it. The more prepared you are, the better chance you have at finding something great!
