The 3 Steps Many Buyers Skip When Buying a Home

The 3 Steps Many Buyers Skip When Buying a Home

The goal for every buyer is to find a home that is the right fit for your lifestyle, needs and, most importantly, your budget. Did you know there’s a very specific formula and step-by-step approach that buyers – like you — should take to make sure they end up with the home that best fits their needs and budget? 

This process does require some initial patience on your part so that each step is done right and when you find THE ONE you are ready to move quickly. Often I see buyers flip this around…they move very quickly getting started, skipping over a few steps that could save them some stress along the way. Then when they find a home that is a good fit they aren’t ready to act. In the Houston market, this can mean losing out on your dream home. Average days on market in our area for a good house that is priced correctly are very low. Let me help you avoid this heartbreak!

Don’t Skip These Three Steps

No one should rush out to purchase a home before they are ready since this is a big financial decision. Remember that slow and steady gets the “prize”!

First, you should have determined your deal breakers, “must haves” and lifestyle goals. That process is covered in a previous article —12 Questions to Answer Before You Step Foot in an Open House.  Go back and read it again, and then you can move forward once you’ve answered the 12 questions.

Now you’re ready for the next three important steps. But do not bypass these steps since you’ll end up wasting time, getting confused and, ultimately, risk buying a home that you regret.

1.  Get pre-approved  

Many people start looking for a home before they truly know what they can afford.  They have an idea of their price range, which is good…but there are several other factors and costs that will affect how much they want to spend.

My most successful transactions happen when my clients first understand all the costs and the timing of when those costs occur.  Buying a home is a big deal and a big financial commitment.  This can be a great thing for you! Purchasing a home is a great way to build your financial portfolio, and that is a SMART DECISION. 

Not having your pre-approval letter in your hand and knowing exactly what you are comfortable spending will slow you down and you could miss out. Don’t set yourself up to fail by not being prepared!

Instead, be ready.  Not sure who to speak to?  I have a list of lenders who I am happy to share with you.

2.  Slow down and understand the current market

I love watching shows about purchasing homes and renovating homes!  That’s what you will find me doing on a Sunday afternoon…but sometimes these shows leave out some very important details of the current market trends. 

So, be sure you are not getting your home purchasing lessons from a TV show.  Reach out to me, a local professional agent and let’s talk through what is happening in the market right now.  Is it a seller’s market or buyer’s market? What is the average days on market?  What terms are being accepted by sellers? 

I know, this takes a little more patience than calling an agent when you have found a house online, but I promise this will result in a better outcome for you.

Finding the RIGHT home is a process so, take a deep breath, slow down and understand the process; you might just enjoy it more and you will find the RIGHT home!

3. Decide who will represent you

There is a lot more than meets the eye to buying a home.  You need someone experienced in the type of home you are buying—price range, location, and loan programs you’ll be best suited for.  Not every agent knows how to help every buyer. 

Start with getting recommendations from friends and family.  Think about where they bought and their price range.  Only ask people in your life who would be buying something similar.  Ask them what they liked and didn’t like about the agent they worked with. 

Once you have a list, reach out to two to three agents and ask them how they work and where they have sold homes recently and in what price range.  Then set up an appointment to meet them for an initial consultation. 

You don’t need to know everything about the home-buying process before you meet, they should be educating you about the process and what you need to know to make your first purchase successful.

Be honest with your agent and soon you’ll get a sense if you and your agent will be compatible and well-suited together. It’s important to have a good working relationship and be attuned to each other.

That way, your agent will “get” you and be able to also anticipate your likes, dislikes, and needs in a home even better than you may at this point!

This is important since you want your agent to guide you toward homes that will work best for you, and your wants, needs, and budget … and not waste time on homes that do not.

Buying a home is an exciting time and I would love to come alongside of you. Helping clients navigate this process is what I do best! Reach out to me by email or use my Calendy link and let’s sit down and review these three important steps together.