Buying a new DeBary, FL house is no easy task! In order to make it as simple for you to understand as possible, we’ve broken it down into 10 bite-size chunks. When looking at it this way, the entire process is much easier to understand.
Step #1 Start Saving Money
Well before you actually plan to buy a house, you need to start saving. Yes, you’ll get a home loan from a financial institution but there’s also quite a few out-of-pocket expenses too. The largest one is the downpayment. There’s also moving expenses, closing costs, fees for an inspection, and more.
Step #2 Get Pre-Approved
The last thing you want is to fall in love with a house and then be told by the bank they won’t give you the money to buy it. That is heartbreaking, not to mention a waste of time. If you get preapproved before you even begin shopping, you can know exactly which homes are in your budget and which are not.
Step #3 Determine How Much House You Can Afford
No, this isn’t the same thing as a pre-approval. Just because the bank says you can afford a certain amount doesn’t mean you’re comfortable paying it. Experts recommend that people look for homes that cost no more than three to five times their annual household income.
Step #4 Find a Real Estate Agent
Now the fun part begins! It’s time to start shopping, but you need an expert at your side. Real estate agents are important partners when you’re buying a new home. Their professional knowledge of the home buying process, negotiating skills, and familiarity with the local markets and neighborhoods you want to live in is extremely valuable. Start touring homes in your price range!
Step #5 Put in an Offer
You’ve worked with your real estate agent and found your next home. Take as much time as you need to find the right home. Once you find it, work with your real estate agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood and the asking price.
Step #6 Get a Home Inspection
A home inspection of the property is needed to check for signs of structural damage or things that may need fixing. This is done by a separate professional. Both you and the seller will receive a report on the home inspector’s findings. You can then decide if you want to ask the seller to fix anything in the house or on their property before closing the sale.
Step #7 Close the Sale!
The big day has finally arrived! At closing, you will sign all of the paperwork required to complete the purchase. After this, the home is officially yours. You’ve done it! Once the paperwork is signed and notarized and the check is delivered to the seller, you are ready to move into your new house!
What are you waiting for? If you haven’t yet started with step number one, now is your time to begin! Your beautiful new home in Rivington is waiting for you!