Avoid the Fall: 7 Smart Steps to Buying a Home

Ask any Realtor: do you have any crazy buyer stories? They can probably rattle off a few encounters with buyers-from-the-looney farm. Don't become part of one of their "stories." Instead, be informed to not only safeguard yourself, but to avoid joining the Buyer Looney Farm.

Buying a home or any type of real estate can be & should be a painless process. The transaction can go smoothly with very little stress, if any. However, the difference between a smooth transaction versus a rocky transaction laden with bumps & challenges can lie in the information level of the parties involved. Are they aware of the actual terms of the purchase contract? Are they knowledgeable about what steps are involved in their transaction? Are they placing all the responsibility of initiating the gathering of information on their Realtor or Loan Officer?

The real estate & loan agents can be a great shock absorber to the challenges that occur during & before a transaction if they are able to fully communicate what can and when things happen to their client. By keeping the lines of communication open, agents can lessen their client's anxiety levels throughout the transaction. In addition, the buyers' stress level can be pro-actively decreased when they take the time to learn about what needs to be accomplished prior to beginning their house hunting. By understanding the 'pre-offer' steps that lead to finding that perfect home, Buyers will truly impress their Realtor.

Home buying step #1: Determine Your Budget.
Decide how much home you can afford. Generally, buyers can afford a home equal in value to between 2 and 3 times their gross income. By deciding how much home you can afford, you will help your Realtor narrow down - at least by price - and sift through the outrageous housing inventory available in today's real estate market.