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5 STEPS TO BUYING REAL ESTATE: Step 3- Shop for a Home

There are several things to think about when you’re looking at your potential home.

  • What features are you looking for? For example, how many bedrooms? How many bathrooms? Do you want a basement? Which neighborhood do you prefer to live in? What school district do you want to live in?
  • Take notes as you go through each home of things you liked or didn’t like. This will help with making your decision.
  • Do your research. What’s the county value of the home? What’s the estimated value of the property currently?
  • Once you’ve found your home, ask your banking lender for a good faith estimate so you can see all of your numbers. This good faith estimate will go into specifics including total down payment (to the penny!), monthly payments, closing costs, pre-paids, private mortgage insurance (PMI), taxes, home owners insurance, etc…
  • Ask the listing agent for the average utilities which includes electric, gas, water, trash, any Home Owners Association dues (HOAs), etc…

Buying Real Estate 5 stair steps

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