10 Tips For the Modern Home Buyer
1. Get An Agent
Buyers that have an agent on average find their home quicker, get a better deal, and are more protected. Agents can protect you on unforeseen issues that may cause major legal ramifications. Not to mention with a Home Stimulus partner agent, you get a fat Home Refund!
2. Know All The Costs.
You need to know the facts. There are many different closing costs associated with buying a home. If you don't know them now, it can cause stress at the end of the transaction. Swipe up to see a general closing costs estimator. Build your Home Stimulus Refund to help you out with your closing costs.
3. Know Your Credit.
Buyers seeking financing don't need to have flawless credit, you just need to know your credit range and what your debt to income ratio is. Many buyers think they can't buy without a 700 score, this is far from the case. Don't worry, we have tools and lenders available to help you plan accordingly.
4. Don't Buy Anything
Obviously you can make regular purchases, but don't buy anything large, or make any new transactions that will run your credit or increase your monthly debt. This is the quickest way to ruin your loan approval. When in doubt, don't buy it!
5. Get Pre Qualified Early
Stay ahead of the curve and obtain a pre-qualification letter months before you are ready. This will give you enough time to correct/improve most situations. While most qualification letters are only valid for 30 days, most of your documents will not be needed to be given again.
6. Negotiation Is Good.
Buying a home is exciting, but often times you can get a much better deal if you negotiate. This may mean you may not get the very first house you love. Or, if you see your dream house come on the market, you can even leverage your Home Stimulus Refund as a tool to make your offer even more attractive to the seller!
7. Milk The Inspection.
Usually a buyer is given time for "Due Dilligence" during their inspection window. This is your time to make sure you understand your property. Attend the Inspection in person if possible. Ask questions. Seek further inspections for extra piece of mind. Once you pass your inspection period, there is no going back!
8. Save Save Save
I know, your sick of hearing it, but if you start saving earlier, you are much more likely to feel confident and secure in your transaction. Now we don't want anyone to rely on a rebate, but when you buy a home through Home Stimulus, a Partner Agent will give you a home purchase refund which should help reduce the amount you have to bring to the closing table in most cases.
9. Stay Organized
There are many moving parts to buying a home. Keeping them all organized is key. Our Home Stimulus escrow management tool should help you organize key documents from all parties.
10. Choose Good Vendors
You will need to work with a handful of vendors, and it only takes one bad vendor to ruin your entire transaction. Agents, Lenders, Inspectors, Appraisers, Movers and More. Home Stimulus has allowed real consumers to rate, rank, and give reviews to all vendors providing transparency and crucial feedback for buyers looking to hire them. Do your research, and make sure the vendor fits your needs.