4 Questions to Ask Before Buying A Home
If you’re considering buying a home, chances are there are thousands of questions running through your mind. What can I afford? When is the best time to buy a home? Which type of home is best for me? The questions will come flooding as you embark on your journey toward your dream home.
At Mark Spain Real Estate, our expert listing agents offer valuable industry insight to help prepare you for the home-buying process. With exclusive intel in some of the southeast’s most prominent markets, our team can help you confidently make an offer after addressing essential home-buying questions. Below, we’ve compiled a list of four critical questions to ask yourself before buying a home.
4 Questions to Ask Before Buying A Home
What are my total costs?
If this is your first time buying a home, you’ll soon realize it’s more than just a one-and-done purchase. On top of paying for the property itself, you’ll face several ongoing costs you’ll need to account for in your budget. From monthly mortgage payments and closing costs to homeowners insurance fees and utility bills, new homeowners should allocate a hefty budget that accommodates the price of the home and the proceeding costs.
The home-buying process contains a lot of unknowns, and you’ll rarely ever know your total costs upfront. However, when working with a real estate professional like Mark Spain Real Estate, you can get a general idea of how much you will spend on a home and base your budget on that general estimate.
Am I ready to take on a mortgage?
In most cases, buyers only partially pay for a home upfront. Rather, they take on a mortgage to finance their home in monthly installments. However, given the size of the loan, a mortgage comes with major financial responsibility, yielding years of payments and interest. So, before buying a home, you must reflect on your financial standings and determine if you’re ready to take on a mortgage. Evaluating your debt and credit is an excellent way to assess your readiness.
Before beginning your house hunt, do your best to take care of any credit cards, installment loans, or student loans that may be weighing down your finances. In addition, you’ll also want to evaluate your credit score, giving yourself ample time to improve it before applying for a mortgage. With a poor credit score, you may be at risk of a larger down payment and higher interest rate on your mortgage loan, creating a lifetime’s worth of costly stress.
What am I looking for in a home?
It’s easy to get overwhelmed with options as you shop for a home. To filter your search and narrow your scope of prospective properties, you must determine what you’re looking for in a home. Looking for a house near quality schools? Or a property with a spacious yard for your pet?
Every buyer has unique wants and needs, and it’s best to nail down these non-negotiables before you start browsing the market. A good rule of thumb is to sit down with your agent and create a checklist of home features most important to you. Doing so will allow you and your agent to narrow your search and build a concise list of homes worth visiting.
How can a real estate agent help me buy a home?
Regardless if you’re a first-time home buyer or a seasoned veteran, navigating the world of real estate can be difficult on your own. Having an industry professional by your side is a surefire way to make the home-buying process smooth and stress-free, as an experienced real estate agent will guide you from start to finish. 
The ideal real estate agent will help you determine a budget, narrow your search, schedule showings, submit offers — the list goes on! If you’ve been apprehensive about diving deep into your house hunt and finding your dream home, a trusted real estate agent may be exactly what you need!
Buying a Home with Mark Spain Real Estate
Do you have questions about buying a home? The experts at Mark Spain Real Estate are here to help you every step of the way. With decades of valuable industry experience, our team of trusted agents will ensure your house hunt is smooth and stress-free! For sellers looking to streamline their home sale, check out our Guaranteed Offer Program to receive an offer on your home in only 21 days. Contact our agents today!
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