Share:

The decision to purchase a home is often filled with excitement, uncertainty, and a bit of trepidation. For first-time buyers, the process can be even more overwhelming. Luckily, a professional real estate agent can help streamline the process and navigate some of the more technical aspects. As you search for your new dream home, here's a guide to help you with some important steps on the journey.

A Guide to Buying a House 

1. Check Your Credit Report

When a lender reviews your application for a mortgage, they will first review your credit report to get a sense of your financial history. If there are errors or outdated information on the report, you may not get the best rates or may be denied altogether. Luckily, you can request free copies of your credit report from the main credit reporting bureaus and review them for any mistakes that could affect your home mortgage application. If there are errors, contact the bureaus to correct them to help simplify the loan application process.

2. Get Pre-Qualified for a Mortgage Loan

real estate

Knowing how much home you can afford will save a lot of time and frustration when searching for properties and applying for loans. By getting pre-qualified, you'll have a more realistic estimate of the loan amount you may be eligible for, so you don't look at properties outside your budget. You can often complete the process online, submitting proof of income, savings, investments, and other financial assets to a lender. They will review the information to determine how much loan you'll qualify for. 

3. Schedule a Home Inspection

Previously owned homes can have a variety of hidden issues that the seller may not have known to disclose, including unreliable plumbing, electrical wiring, HVAC systems, or roofing. Fortunately, a thorough home inspection by a reputable firm can help reveal any underlying issues before you commit to the property. You can then work with the seller to negotiate a new price. For example, the seller may repair the issues as a condition of the sale, or you may volunteer to fix the problems yourself if the seller agrees to lower the overall price.

 

If you're looking to buy a new home, turn to the professionals at Herron Realty in Old Forge, NY. Having served the area since 1978, the real estate firm is knowledgeable about properties for sale throughout New York's Central Adirondack region. You can count on the team of licensed real estate agents to help you find your new dream home. To get started, search for properties online, or call (315) 369-6910 to speak with a friendly agent.

tracking