I Want
to Buy a House, Where Do I Start?
Here
are 8 steps that are important in starting the process:
1.
You decide to buy.
Making
the decision to buy one of your biggest life investments can be nerve wracking.
When is a good time to buy? It's always the right time to buy — the key is
finding the right home for you!
2.
Hire your agent.
When
looking for a professional real estate agent to help you achieve your dream, a
good agent will put you first. A great real estate agent will educate you about
current market conditions, analyze your wants and needs, help coordinate the
transaction throughout the process, lead you to homes that fit your budget and
criteria, negotiate for you to get you the best deal possible, check, double
check and triple check paperwork and deadlines. Lastly, they will bring up any
problems that may arise and suggest solutions.
3.
Secure the proper financing.
If
you haven't done any research on mortgage loans, your agent will be happy to
provide you with a few preferred lenders they work with. The lender will review
your current financial situation, provide you with available options, negotiate
on your behalf for the best interest rates and loan approval. Most of all, keep
you informed and updated of the process and status.
4.
Find your home.
Now
you've spoken with your trusted advisors, and you're ready to start your
search. Where do you start? Your real estate agent will help guide you to homes
that fit your criteria. The right home will meet most of your needs and some of
your wants.
Some questions you might ask yourself include:
Some questions you might ask yourself include:
- What amenities are crucial for you and your family?
- How much space do you need and why?
- Which is more critical: location or size?
- Would you be interested in a fixer-upper?
- How important is home value appreciation?
- Is neighborhood stability a priority?
- Is accessibility to main routes a priority?
- What features are not negotiable in your new property?
5. Make an offer.
When you've found a home you can see yourself in, the next step is
deciding on a price. Your agent will do research on the neighborhood and other
properties to help you make an informed decision. Three things to consider are
the list price, a market analysis your agent will do for you, and improvements
on the home.
6. Perform due diligence.
When your offer is accepted your agent will provide you with any
improvements and challenges of your future home. Knowing what you are getting
into before the close of escrow is crucial. Improvements can increase the value
of a home and damages can hurt your pocket. Most often problems can seem big,
however they can be repaired with little effort and not such a big budget. Your
focus should be structural damage that can happen from water, poor construction
or the ground shifting, since those would be the expensive projects or very
difficult to remedy.
7. Close of escrow.
You're reaching the finish line. In order to not risk your home
purchase, you have some responsibilities that you need to keep in mind:
- Stay in control of your credit and finances: Do not make any large purchases during this time. It's important to keep your financials steady throughout the buying process. Talk to your financial consultant for guidance.
- Keeping in touch with your agent and financial consultant: It's important to stay in constant communication with your Keller Williams agent and financial guide during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don't be afraid to ask questions. Your team is there to help you!
8. Protect your investment.
Congratulations,
and welcome home! The home-buying process is complete, which means it's time
for your maintenance plan! It's now your responsibility, and in your best
financial interest, to protect your investment for years to come. Performing
routine maintenance on your home's systems is always more affordable than
having to fix big problems later. Be sure to watch for signs of leaks, damage
and wear.
And remember, just
because the sale is complete, your relationship with your agent doesn't need to
end! After you buy, your agent can still help you by providing information on
the real estate market, finding contractors and repair services, and even
tracking your home's current value.
Happy home-owning!
by Victor H. Lopez
Victor Lopez is a Buyer Specialist in the Shay Hasselmann Group at Keller Williams
Realty Las Vegas. Victor comes from an Executive Management background as a former
Executive Sous Chef for high volume restaurants on the Las Vegas Strip and
Beverly Hills, CA. for over ten years.
Victor
is on Shay Hasselmann’s team, and just like Shay, Victor also values
communication as one of the keys to his success. Victor likes to push
technology to the limit using Telephone, Email, Text and all social media to
communicate with his clients.
Victor
enjoys crossfit, indoor soccer, cooking, and watching football.
The Shay Hasselmann Group is a team
of real estate professionals who have collectively garnered top awards in
production and sales in the Keller Williams organization in the Southwest
Region. They are driven by a need to serve the Las Vegas, Summerlin, and
Henderson Real Estate community with excellence and professionalism whether
selling, buying, or renting homes. Information and searches may be found at www.shaylasvegashomes.com.
Shay Hasselmann Group
Las Vegas Real Estate Specialists
Summerlin Real Estate Specialists
Henderson Real Estate Specialists
702-706-7429
Keller Williams Realty Las Vegas
3090 S. Durango Dr. Suite 100, Las
Vegas, NV 89117
