New Home Buying Checklist

New Home Buying Checklist

Most Americans dream of owning a home. In addition to the pride and sense of accomplishment that comes with home ownership, homeowners pay less tax and save money over renting. Home prices tend to rise over time, making home purchase one of the best investments you can make. Despite the numerous benefits of homeownership, many people still worry about the home buying process. This makes sense when you consider the fact that buying a home is one of the largest purchases you can make. It’s important to learn all you can about the home buying process before taking this important step. 

  • Clean Up Your Credit

If you haven’t already, now is the time to check your credit score. This is the number that mortgage lenders look at when determining your rate. A higher score means a lower mortgage rate. Although it isn’t necessary, it’s a good idea to resolve any issues on your credit report before shopping for a home.

  • Determine How Much Home You Can Afford

Figuring out your budget before shopping for a home can save you a lot of heartache later. In order to determine your budget you need to compare the amount of money your household makes each month after taxes to your average monthly expenses and debt. Keep in mind that the more money you put down on your new home, the smaller your mortgage payment will be.

  • Search for a Mortgage Lender

The mortgage process is often one of the most stressful parts of buying a new home. It’s not uncommon for prospective buyers to spend months on end trying to find the right lender. After locating a mortgage lender, prospective buyers need to get pre-approved for a mortgage.

Fortunately, there is a way to streamline the process. Most home builders have their own mortgage company, allowing you to keep everything in one place. This makes financing easy and home builders often offer incentives to buyers that finance with them.   

  • Determine Your Needs

Everyone has different needs when it comes to buying a home. While some people focus on the kitchen and amenities, it’s important to distinguish what’s really important. Consider making a list of both your wants and needs. This can help you determine which elements are negotiable.  

  • Research Local Neighborhoods

Location makes a big difference when buying a home. Before viewing any homes, make sure you research the area and the school districts. Even if you don’t plan on having children, homes located close to good schools tend to have a higher resale value. In addition to good schools, make sure you research the local shopping centers, restaurants, grocery stores, and entertainment. 

  • Start Touring Homes

Once you’ve determined the type of home you’d like to purchase, it’s time to start visiting them in-person. Although your real estate agent will help you through much of the process, it’s important to have some questions prepared before touring any homes. You’ll want to gather as much information about the home as possible including the year it was built, materials used, previous owners (if any), and renovations. 

New Homes in Frederick County

Located close to sought-after schools, shopping, dining, arts, entertainment, and recreation, Landsdale offers a wide range of home styles from five of the area’s most talented and experienced builders. Please contact us to schedule a tour and learn about our builder’s financing options. We look forward to hearing from you!

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