The home buying process can seem overwhelming and stressful, but it doesn’t have to be. With the right information and some preparation, the process can go smoothly and without any hiccups. In our latest post, we sum it all up for you with our home buying checklist in Wellington, Fl. We want to help you find and purchase your first home!
Home Buying Checklist in Wellington
Step 1: Get Financed
Before you start going shopping, it is a good idea to understand just how much house you will be able to buy. Search with a couple of various loan officers and mortgage brokers and see what is available to you.
There are all sorts of programs out there, including government grants and bond programs that you may qualify for that can assist you with your down payment and closing cost.
Talk to good friends and family members who have recently purchased, and find out which lending institutions they used and how the experience was for them.
Of course, everyone’s scenario is different, but do not hesitate to take a look around a bit at what the loan providers are able to offer you.
When you work with a lending institution, you will need to know the deposit you can make. Do you have 20% for a standard loan? Or 3.5% for an FHA? Are you financially prepared to handle a home loan, interest, insurance coverage, and real estate tax? Some individuals may spread themselves too thin to get approved on paper. However, you must be sincere with yourself here and remain within your methods. Even if you are approved for a particular quantity, doesn’t imply you require to spend everything. As moms and dad would say, “Make clever decisions.”
Once you know what you can afford in Wellington Florida, you can work with a lender to get approved. Most lenders will tell you what you need to do to get that approval. They can even help put together an action plan to help you reach your goals.
Step 2: Go Shopping
Don’t just look for listed homes, look at recently sold ones too. What can you really get for your money? People can list properties for any price they want. It doesn’t mean they are actually selling at those prices. Pay attention to the market and annual trends. Bid with intelligence and be well-informed. Don’t succumb to impulsive moves that will end up costing you down the road.
Before you make an offer, find out EXACTLY what is included with the home. Is the seller including any furniture? What about the appliances? You cannot assume they are included unless you have it in writing. You wouldn’t want to find out on the day you move in that you need to go buy a refrigerator or washer.
You will want to make sure the seller has a home warranty in place to cover any major repairs that are needed over the next year. You need to have the reassurance that something isn’t going to immediately go wrong right after you move in. Home warranty to cover major repairs over next year
Have an inspection done by a professional, licensed inspector. Once your inspection is done, talk to a licensed contractor about the cost of repairs. You can take this to the seller to negotiate who will pay to fix the home or work the repairs into the final sale price
Step 3: Buy Your Dream Home
Most lenders you will work with require an appraisal on the home before they will let the funding go through. The home needs to meet their requirements in order for you to make the purchase. Once your financier has approved, you will want to get detailed closing costs and review all associated fees.
Schedule a final walk through, checking all switches, fixtures, outlets, etc. (Some small things can be a sign of bigger problems!) Final walk through test all fixtures, switches, outlets faucets, etc.
Once you are satisfied with everything, you are ready to sign your contract.
Congratulations! It’s time to move in!
Are you ready to buy a house in Wellington? We can help you answer all of your questions and find the home of your dreams. Send us a message or give us a call today! We can’t wait to work with you! 561-771-4347