For as long as I can remember I’ve always had a goal of purchasing a home…someday. As I got older I knew I needed to buckle down and start saving for that said goal. Living in Southern California, I would tell myself that it was impossible to buy a home so I would put it off. Fast forward to meeting my husband. We would talk about how we hated paying rent month after month, helping someone else pay off their mortgage. The goal of buying a home seemed further and further.
Enter 2018, my husband received an opportunity through his company that we decided to pursue in our goal of purchasing a home. Truth be told, I still wasn’t completely “sold” (see what I did there? 🤪) on the idea that we were going to purchase a home. We had recently adopted and we had spent so much money on that. We went through so many ups and downs of the buying process, issues with adoption paperwork, loosing out on a house because our loan officer dropped the ball and my favorite, our real estate agent quiting the week before closing on our house. All in all it wasn’t the most horrible experience (I think I’m forgetting all of the anxiety it gave me) and in the end we have a home that we love. Goal accomplished!
Here are some tips to look at when buying a home:
Don’t go through a national company such as Rocket Mortgage when looking to fund your loan.
When you start looking at homes and have chosen a Real Estate Agent that you trust I would ask her/him who they recommend for a loan company. Agents know everyone in their city and can recommend loan officers, escrow companies, etc. Listing agents will trust that the loan will go through if they recognize the lender.
Not only do you have to have a down payment but be prepared and organized. You’ll have to send your loan officer a plethora of information such as 2 years of tax returns, pay stubs, bank statements, the list goes on. Make sure you have everything at your fingertips. (This helped us tremendously!)
Pay down debt on your credit cards.
This is important to not only raise your credit score but to also helps to lower your interest rate. Also, do not make any large purchases while getting approved until after you close on your house. This could derail all of the work that you’ve put in.
Don’t be afraid to negotiate.
You can ask for anything from appliances or having the seller pay for half of the closing costs when you are making an offer. If you’re worried about this, your agent should walk you through this.
No explanation needed here.
Choose an agent that is a good communicator.
This is extremely important. YOU ARE BUYING A HOME, this will be yours for 30 years unless you sell. Ask as many questions as you want and if you have a gut feeling about something, ask. They sell homes for a living, they should be able to explain all of your concerns. This should also be applied to a loan officer.
I’m definitely not an expert in buying a home but just coming off of just buying ours, I wanted to share a couple of sound bits of things I learned along the way. At the end of the day, we are happy with our experience even if at times it was crazy. Our home is just what we wanted and I can’t wait to share many more blog posts from our new little piece of heaven.