Are you a first time home buyer in Florida and need help buying a house but you don’t have a clue about how to start or end? This is a trouble that first time or subsequent home buyers may be faced with prior to purchasing a home. Your next home is a big time asset and therefore you need to be cautious when engaging in this type of endeavor. Worry no more because the following steps will make the entire process hassle free.
1. Do Your Own Research
You should start by reading real estate journals, websites and newspapers. This should give you an insight of how the housing sector is at the moment. Identify those that you are interested and note their prices.
2. Identify Houses that You Can Afford
It is a MUST that you only pick those houses that does not surpass your monthly income by a huge margin. As a first time home buyer Florida resident, your current financial situation should also dictate the house that you anticipate to buy. In most cases, you should plan buy a house that does not cost more than five times your annual income.
3. Know About the Mortgage
One cannot just start to ask for a specific house yet he/she does not know about how much mortgage can be available depending on the provided document. The information that you provide to the mortgage provider will influence the amount of cash that you will be given. The prequalified mortgage amount should be used to determine the house that you can afford.
4. Make use Of Real Estate Agents
The entire process of buying a house is always a daunting task and to cushion yourself, real estate agents can come to your rescue. They usually have a thorough understanding of the current real estate trends and they can help in identifying suitable homes for you. They are also good in negotiating for the price. They are always ready to offer substantial help to first time home buyer Florida citizens.
5. Window Shopping
You also have the effort of shopping for your preferred home. Within the neighborhood that you want to buy a house, there will always be those that are on sale. Go ahead and find out about them. You should not forget to test specific systems in that house such as electrical and plumbing units. You can take a video and pictures of those that you admire as this will be helpful when making your final decision.
6. Home Examination
If there is one thing that should never miss in the process of buying a house is home inspection as this is the main determinant factor of whether the house is worth the price or not. This is done to determine any damage in the house. This will safeguard you against paying more than the value of the house. It can also help in negotiating for the final offer.
7. Get the Loan
It is now that time a banker should help you get a loan that will not be a burden to you. Always pick that which will go hand in hand with your financial situation. You can decide to have a small or big amount of your monthly payout to be slashed. That depends on you. The next step is to get an independent appraiser to determine if what you are buying is actually fair. A banker should help you with most of the paper work used when buying a house.
8. Own a Home
By now, everything should have been completed including signing every related document and the seller getting his/her dues via a check.
You are now ready to move to your dream home as a first time home buyer Florida who has successfully acquired a house.