So I put together a quick list of some things to keep in mind during the home buying process so that you don't pull your hair out.
|1| Be Patient.
Things will go super fast and things will go painfully slow. It's all part of the process. Don't get too dead set on any specific date or deadline. The week before we were supposed to settle we were waiting on one little piece of paperwork. We got it 3 days before settlement but we were worried sick up until then.
|2| Keep Track of Everything.
Although the people you work with for a mortgage, inspection, etc. are paid to do what they do, that doesn't mean they won't forget something or slip up. It's crucial that you keep track of everything, follow up on things you still need, and keep track of the overall progress of everything.
|3|The Less You Have, The Easier It Is.
Take advantage of the fact that you may have some time to start purging things you don't need and packing and reorganizing the things you are keeping. The last thing you want to do is move a bunch of junk into your new house, so take the time to go through all your possessions and ask yourself what you really need.
|4|Be Mindful of your Purchases.
Not only should you be hanging on to your money to use when you actually purchase your home and the things you need for it, but you need to be careful that you don't mess up your credit score by putting things on credit cards. Don't shop for loans, buy a car, etc. Nothing major. Play it cool.
|5| Know the Difference Between Wants and Needs.
You may want a house with something specific inside, but if you really need a home in a good location - make sure that you know the difference. Certain things, like location, aren't able to be changed so if you have a specific location in mind - that can become a NEED. You may need to be close to work, or need to be in a safe area. Maybe you WANT a finished basement, but don't let a house with a finished basement in a bad location sway you. Needs come before Wants.
|6|You Will Need Some Money Saved.
You may be able to get a loan with zero down, but I'm telling you - make sure you have some money set aside for the first month or so in a new house. There are little things that will go wrong like maybe a faucet breaks or light bulbs burn out. There will be some immediate repairs needed and some little conveniences you need to purchase. Buying décor for your home might be tempting but wait a couple months and save that money for the important necessity stuff.
|7| You Will Need Time Off Work.
I mean, I did. Some people think they can do it all in a weekend and that's fine when you're moving in but I took a few days off to get EVERYTHING in order. I organized stuff, had cable hooked up, went shopping for all the "extras", and still had some time to relax. It will help you mentally - trust me!
|8| Trust Your Gut.
If you have a bad feeling about a realtor, a house, or anything else - trust your gut. This is a huge decision in your life so don't settle for something you aren't completely enthusiastic about. Talk with friends and other professionals. It's okay to be (a little) paranoid.
|9| Be Realistic.
You may make an offer that doesn't please the seller. That's fine but remember - if you were a seller, how would you think and feel? Also be realistic when it comes to a house you find. With the price of the mortgage each month, would you be able to enjoy life or would you barely be scraping by? Just because you think you found your dream home, doesn't mean it will lead to your dream life. Be smart. Don't become house poor.
|10|You're not the only person out there.
Other people are looking for homes. Other people are looking at the homes you look at. The world doesn't revolve around you. Don't become devastated if someone else's offer gets accepted. That's the game of life. That's why you should do things in a timely fashion.
What other things should people keep in mind when buying a house?
