Buying a home is likely the largest purchase that you will ever make. Before you jump into the process, it is important that you are prepared and ready to pull the trigger to get a house under contract. Below is a quick list of things that a buyer should think about both before and during the home buying process to get you ready to go.
- Pre-Approval allows you to know your limits and makes you more attractive to a buyer.
- Work with a Real Estate Agent – make sure they are experienced and have done a number of deals to give you the best knowledge base when thing may get interesting in the process. Having a seasoned professional that has done a good number of deals can help lead you through any issues that may arise.
- Do the math – figure out what you need to put down and what would be more beneficial being invested. Know your rates and monthly payments before you close, or have a really good idea.
- Inspect – make sure that you get all of your necessary inspections (home, termite, plumbing). Any issues discovered will typically allow you to negotiate any fixes or prices off the home to make future repairs.
- Insurance – be sure to find out the flood risks for your area and if you will be required to carry flood insurance. While it is always a good idea, especially in South Louisiana, finding out prior rates will help you figure out what you need to pay. Also, consider your homeowner’s insurance. Shop policies with several companies and make sure you get the best rate. When comparing rates, make sure the coverage limits and options are the same so you know the best rate to compare.
- Credit Score – make sure you know your credit score. It can help you get better interest rates based on how good your score is.
If you ever need any guidance, our home mortgage specialists are available to help, whether you have questions about the housing market, the mortgage loan process, or anything related to the home-buying process in general. You can rely on us to provide you with the information and service you expect and deserve.