Beginners Guide to Home Buying

You don’t just drive around until you find a ‘house for sale’ sign. Instead, you sit down and lay out the foundations for your purchase. These ’foundations’ are the primary considerations that you have for choosing the house that you want to buy, such as:

• Needs: Can’t live without a walk-in closet? How about a dedicated laundry room? A bar in the kitchen? Your needs refer to all the non-negotiables that you can’t go without in your new home.
• Wants: Do you want a certain architecture type or a specific stand-out feature? This refers to the things you’d like to get, but don’t mind if they’re not available.
• Financing: How much do you qualify for, and how much can you actually afford? Make sure not to go over budget.
• Agent: Shopping for a suitable home and making an offer is not an easy task. It’s not impossible to do everything alone, but it’s going to be significantly more difficult. A qualified agent can help make the process go much smoother.
• Insurance: It’s a must to plan the type of homeowners insurance that you want to get. To get the best rates, look for expert dealers such as Magnum Insurance.

Once you’ve assessed the considerations mentioned above, the first thing you should do is to contact your trusted agent and shop around for choices.
Make sure to check the background and history of the house. Agents are legally required by law to disclose everything to buyers, but it never hurts to be extra careful. It’s also a good idea to look at hazard maps to see if the home is prone to earthquakes, flooding, and the like.
Once you have two or three final choices, you should secure your finances first before making an offer. Don’t feel bound by loyalty to your current bank, as mortgage rates are surprisingly varied out in the wild.
Only after you’ve done these should you make an offer with the help of your agent. Don’t forget to do an official home inspection before closing the deal.

You finally have a new home. Great!
That said, the process doesn’t end there – you have to think about the actual things that make a house your home. This includes furniture, appliances, security systems, and financial insurance.
Most of these things you can build up over time, but one thing you must never forgo is homeowners insurance. Being protected from day one can help you avoid financial disasters that can potentially cripple your finances when you’re most vulnerable.