Steps to Buying a House
All of us at Galindo Group know how stressful buying a house can be, which is why we’re here to help! When starting the home buying process, there are many things to take into consideration and even more things to prepare. It can seem overwhelming at first, but we love guiding our clients through understanding the process from beginning to end. With Galindo Group’s tips, you’ll be closing on your first home in no time!
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Buying a House Checklist
There are many steps in buying a house, but the process should always begin with a bit of research! Before you get too involved in house-hunting, it’s smart to know what you should expect:
- Get your finances in order. This is essential to ensuring the home buying process goes smoothly. Determine your price range, your limit on a down payment, and check your credit score.
- Get pre-approved for a mortgage. Before committing to any lender, it’s important to pick the right lender as well as weigh the pros and cons of which type of mortgage works best for you.
- Find the right agent. Having a trustworthy real estate agent who has your best interests in mind is key to receiving support through the buying process!
- Let the home hunting begin! Before you begin searching, make sure to have a list of what factors are most important to you in a home. Your real estate agent will help you find listings that fit your needs.
- Make an offer. Once you’ve found “the one”, it’s time to put in an offer. Your agent can help negotiate a fair offer, and once you and the seller have reached an agreement, the house will go into escrow.
- Get an inspection. A home inspection of your future property will help determine any problems early on. Major issues can open the door for re-negotiations based on the extent of repairs needed.
- Submit your mortgage application. You’re almost to the finish line! This step will require working with your lender, having the home appraised, and coordinating all of the necessary paperwork.
- Close on your home. The very final steps include finishing with closing costs, signing the final documents, and before you know it, you’re a new homeowner!
How Long is the Home Buying Process?
Reading the above process of buying a home probably left you wondering precisely how long the entire journey takes. Unfortunately, the length of the home buying process totally differs from person to person and can range from six months to two-and-a-half years. There are many contributing factors that have to do with the time spent during the process, including your resources, research, support, and market trends. On average, the typical buyer spends the following amount of time in each phase:
- Four to five months in the consideration phase
- 30 to 90 days in the shopping/searching phase
- Less than seven days to make an offer and negotiate
- 30 days to close on a home
Conquering the Steps to Buying a House
If you’re still feeling overwhelmed, give Galindo Group a call! When you enlist our help in the home buying process, we will guide you from beginning to end. Contact us today to learn more about how we can help get you into the home of your dreams!