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New Home BuyingLooking for a new home is both an exciting and stressful time. While it’s fun to plan where your furniture will go in each property you visit, there’s a lot to get done in a short amount of time once you find the right house. We’ve compiled some house hunting tips so you’ll know what to expect before beginning the process.

Budgeting

The very first step of house hunting is determining your budget. After all, it wouldn’t make much sense to look at properties unless you knew you could feasibly afford to live there. On top of the price tag of the house itself, be sure to consider property taxes, closing costs, HOA fees, home insurance, utilities and other living expenses.

Getting Approved for a Mortgage

A good next step is to find a mortgage lender you wish to work with. There are plenty of online tools that list lenders, who you can then contact to learn more about their fees and interest rates. The lender you select can provide you with a pre-approval letter, which is often needed before you can put an offer on a house. Note that your lender will require a lot of information from you. Be patient and turn in this paperwork as quickly and thoroughly as you can.

Working with a Realtor

Seeking the help of a skilled realtor helps smooth out the confusing and sometimes difficult process of buying a house. Discuss what you’re looking for so your realtor knows what types of properties to show you. Be sure to visit several properties before making a decision; looking at photos online is not the same as seeing the house in person. And while you can expect to have to make a few upgrades, beware of the money pit of buying a house that needs to be gutted and completely redone.

Final Steps

After putting in an offer on a house, it’s in your best interests to get the property inspected. If any damages are discovered, you can often negotiate with the seller to have them fixed on their dime. Your lender may also require an appraisal by a certain deadline. And to protect your new investment, call up your independent insurance agent to purchase a home insurance policy.

Protect your new property. Call Porter-Brandenburg Agency at (972) 234-5588 for more information on Dallas home insurance.

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