Home Buying 101: Initial Consultation

The difference between a Real Estate Consultant and a traditional realtor are the quality of questions asked!

Buying a home can seem so daunting that it’s tempting to just continue to rent, stay put, or go with the first house that’s in your price range. To help you with this process I can help you figure what you’ll need to consider before you buy, and what you can expect during the buying process. At our initial consultation, we will talk about the process and what is important to you in a new home and throughout the process.

The first thing we will need to consider is why you want to purchase a home? It could be that you’re simply looking to quit “wasting” rent and use it on a mortgage payment that actually leads to you owning something. Or, a new home could be a sign of your next step in life or maybe some new opportunities. Maybe your family is growing… or you have a new job signaling a more stable lifestyle, or maybe you’re ready to downsize. Either way this is an exciting time to buy!

With that in mind, here are five questions we will discuss to help with this process:

1. What type of home best suits your needs? There are several options when purchasing a residential property. They could be a traditional single-family home, a townhouse, or a condo. We will need to decide what type of property you want and whether it’s existing or new construction.

2. What specific features are important to you in a home and why? It’s good to have flexibility in your list since you’re making one of the biggest purchases of your life. We will look for a home that fits your needs and wants as closely as possible. Your list should include the basics… neighborhood and size, all the way down to details like the kitchen and bathrooms.

3. How much mortgage can you qualify for? Before we start looking, it’s important that we get you pre-qualified. You may think you can afford a $300,000 home, but lenders may think you’re only good for $200,000. The amount depends on how much debt you have, your monthly income and how long you’ve been at your current job. Have questions about the pre approval/qualification process? I talked about this with one of my trusted lender partners, Dori Wilkinson, recently:

4. How much home can you actually afford? On the other hand, sometimes a bank will give you a loan for more of a house than you really want to pay for. We’ll want to look at the house’s total cost, not just the monthly payment. The monthly payment is important, along with how much down payment you can afford, the property taxes, insurance and your closing costs. 

5. How can I help?As a Real Estate professional, my job is first to listen to what is important to you then to help you find homes that meet your needs within your price range. Then we will meet to view those homes. Once you’ve chosen a home to buy, I will assist you in negotiating the entire purchase, including making an offer, getting a loan, and completing paperwork. My expertise can protect you from any pitfalls you might encounter in the process.  I work with a great team! The Kasby Real Estate Group is committed to simplifying life’s biggest moves for all of our clients!

So now that you’ve decided you want to explore the possibility of buying a home, what is the next step?