Have you answered yourself these questions before start home buying process:-

  • Did you consult with your banker, to know your eligibility for loan and documents required for it? Which can help you with two things? Firstly, you will know your pocket size to set your budget to buy your home and secondly, you will know the set of documents required from sellers end to get the loan from the financial institutions
  • Do you really want to buy home or still continue to rent? As sometimes it is not compulsory to buy until there is a necessity to buy. You need to set your priorities on which you don’t want to negotiate for example the location where you want your home to be or the budget or it could be amenities you are looking in the premises or nearby.
  • Did you look for an option of owning the property in which you are currently residing as a tenant, that depends mostly on the owner of the property and price demand the owner is asking in comparison to the surroundings or market rate? You should explore that option as well.
  • If you are currently residing in your own home and looking for a new one to shift over there. Decide it upon your savings whether

 

  1. Firstly you want to sell your current home and then start looking for a new one.

                                                          Or

  1. You want to finalize the new home than you will start selling off your property.

 

 Both points are different depends much on your finances because sometimes it takes 1 month to 6months to sell off your property. So if you finalize your new home in 1 month then you have to be ready with your finances keeping in mind what if it takes a longer time to sell than my expected period of time.

And if you have decided to book your new home after selling off your current one, then you may lose the right home that suited you most.

Well, I will choose the second option as it gives me time to negotiate on prices and to know more about the available inventories and parallel I will initiate my process to sell the current or I should be ready to move to rental.

  • Do you really need a realtor to choose your home- So the answer is yes, you should interview 3-4 realtors to choose the right one for you. Choosing a realtor is necessary for this market as you cannot run on your own to look after every deal, let the realtor do the work to find your home according to your requirements.
  • Who will pay the realtor fee? Well fees of the realtor will be paid by you if he/she will be getting you the resale deal i.e. 1% of the total value and if/She is getting you the deal directly from builder then you don’t need to pay any fees or charges, instead you can ask for best possible discount keeping in mind that he/she will also be needing the commission from the builder to feed at their home. 

IF CLEAR IN THESE thoughts: –                                                                                                        

HAPPY BUYING!! 🙂

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