There is much involved in buying a home. Rather than just picking out something affordable that strikes your fancy and plunking down the money, home ownership is a process that takes time. While the experience is a little bit different for everyone depending on their individual situation, here is a basic outline of what’s involved in buying an Austin home.
1. The first step is deciding to move from your current location to a new one. It may be sudden, as with an employment change, or it may be an idea that has been brewing for quite some time.
2. Examine your finances. This is probably a good time to make sure your bills are caught up and to check your credit report. If you have not looked at your credit history in a several years, hope for the best, but expect the worst. You may make some startling discoveries that could take some legwork to clear up. If you have any negative reports, make sure they are yours and contact the company who registered the complaint to get it resolved or reduced, if possible.
3. Find an Austin real estate agent. All of our York Real Estate agents are experienced and are familiar with the area. Although it is possible to find a home without a real estate agent, having a specialist on hand makes it faster and easier. We can share our knowledge with you to help you narrow down your Austin home search parameters.
4. Start the process to get pre-qualified or pre-approved for a home loan. We covered the ins and outs of this in our recent blog post entitled, “Think About Pre-Qualifying Before Starting Your Home Search.” Once you have a better idea of what you can afford and what type of home is for you, start your Austin home search.
5. Once you and your real estate agent have found the home for you, you will need to put together a contract proposal to buy it. There is usually some negotiating involved. Some sellers may be interested in seeing your pre-qualification or pre-approval letter before moving forward.
6. Secure a loan or other funding necessary to purchase the home. Many lenders will require a home inspection before approving financing. Arrange for home insurance, too. Read over the contract before the closing to make sure that everything is in order, then attend the closing settlement.
7. Have any intrusive work or major renovations done on your new Austin home before you move in. It will probably be easier to complete without the furniture and people in the way.
8. When everything is complete and ready to go, it’s time to move in and enjoy your new home.