Steps to buy a house

Step 1: Decide to buy

At this time, if you are renting house and you have a stable job with high salary and you also have some savings, you can likely qualify for buying a new house. But the most important question is why you are still renting? Do you think about it ever before? If your reason is fear and it is time for you to let the fear go away and you focus on the facts of home ownership. You do not worry about that you can not afford to buy for your own house because at the fact that the best way to get closer to buying your house is to buy your first home.

Very little people can afford to buy their dream house at the first time, but they can start building equity, this approach may take you further and more quickly down the road to have your dream house than if you had not purchased a home at all.

You also need to know that Purchasing you own house is a great investment which provides for you the financial advantages: equity buildup, value appreciation potential and tax benefits. It is also force for you saving plan what you can not get from renting. When you think about purchasing an own house, you may ask yourself if you can really afford it...

Step 2: Hire your agent

When you are looking a house, the real estate professional can help you in apply more knowledge about the market. They will show you what you want and what you need. They also guide you to homes that fit your criteria. It will make you feel satisfied with the house you are wishing. If you have any problem with the purchasing process, they will have you to solve any problems.

Step 3: Secure financing

This step will answer for you how much home can you comfortably afford. And you need to factor in all of your expenses and see again your income. Lenders use fairly strict guidelines and formulas to dictate how much you spend on your mortgage payment, interest, taxes, insurance... You may think about the lenders who can let you borrow the money. But you must to think the expenses and repayment for the lenders. You may choose a loan officer with making a loan application and getting preapproved. You are sure what you want to pay and select a loan option. After that you submit to the lender an accepted purchase offer contract and get an appraisal and title commitment and last is obtaining the fund at closing.

Step 4: Finding your home

This step is about the where and how you begin your searching house. The best thing to do is consult with your agent to more accurately pinpoint the home you are looking for. You need to concern about some factors:

• Location
• Size
• Condition
• Appreciation
• Neighborhood
• Freestanding or condo/ town home, resale or new construction.
• Features and amenities
• Potential for expansion or improvement.

Step 5: Make an Offer

It is about the price is fair for the home you love. Now you need to make a compelling offer. The three basic components of your purchase offer are Price, Terms and Contingencies.

• Price: Obviously the dollar amount you are approved for, willing to pay and able to pay.
• Terms: cover the other financial and timing factors that will be included in your offer.
• Contingencies: They let you out of the deal if the house has a problem that did not exist or that you were not aware of when you went under contract.

You need to remember that the right price to offer should reflect the fair market value of home you want to buy. Your agent's research will help guide you this decision.

Step 6: Perform due diligence

Knowing what to expect when you are inspecting. You love a particular property and it does not mean that it is perfect. Actually, this is the reason why has to trump emotion and you have help here. You need to have a property inspection that will hopefully expose all the issues a home might hide. This way you will know exactly what you are getting into before you sign the clsosing papers.

Step 7: Close

it shows that knowing how to keep yourself mortgage worthy. You made an offer and performed due diligence but you have a few preclosing responsibilities and these include staying in control of your credit and finances. You will also need to keep in touch with your agent and lender and return all phone call and paperwork worthy. At last, you are sure to confirm with your agent, home insurance professional and lender that you have the settlement statement, certified funds...

Step 8: Protect your investment.

You can give your home the love which it needs, the feeling you have for it. That is exhausting but you are done. You closed and moved in, but now you need to protect your investment for year to come. And you can do so by performing routine maintenance on your home's systems which depends on the age and condition.

After closing your agent can help you with things: providing information, finding a contractors and repair services and even tracking your home's current market value.