Purchasing a home can be a scary process, especially if it is your first time going through the home-buying process! Fortunately, you can read about the 7 steps you need to follow in order to successfully purchase your first home right here on the Complete Heating and Air Conditioning blog.
Step 1: Down-payment
This first step is hopefully one you have been thinking about before you begin the home-buying process. Starting early to save money for a down-payment on your home will help make the process much smoother. As a rule, try to save 3-20 percent of the purchase price of your dream home.
Step 2: Preapproval
Getting preapproved for a home loan is an important step to take before you actually begin shopping. You don’t want to fall in love with your dream only to realize that you won’t be able to afford it! Knowing how much you’ll be able to spend will be determined by your preapproval for a mortgage. To do this, talk to a mortgage banker who will go over your financial information and help you determine a good price range.
Step 3: Choose a home
This is the fun step! You get to start taking tours, making pros and cons lists and picturing your family in a new home. It’s a good idea to take photos or make notes as you go through each house to help you remember what you do and do not like about them.
Step 4: Make an offer
Once you’ve found and chosen your dream home, it’s time to make an offer. Work with a real estate agent to negotiate an offer and reach an agreement with the seller.
Step 5: Inspections
Before completing the purchase of your new home, or go into escrow, you should get a home inspection. This inspection will give you peace of mind when it comes to things like structural damage, or anything that needs fixing. Ideally, once your offer is accepted the home inspection should follow shortly after. If there is a major problem, you will be able to make necessary negotiations or withdraw your offer on the home before the sale closes.
Part of the home inspection, besides checking things like the roof and the foundation, including checking out all major systems. This will include the HVAC system that will soon be yours. If there is a problem, the inspector may suggest having a specialist, like the trained professionals at Complete Heating & Air, come to the home for further inspection or repairs. Take advantage of the inspection so that you know what to expect with your home, especially the HVAC system, and who to call should problems arise after closing.
Step 6: Final Walk-through
If anything comes up during the inspection process that needs to be taken care of, the final walk-through will give you the opportunity to ensure that it has been handled properly, and that everything is as you and the seller agreed.
Step 7: Closing
Finally, you will be ready to close on your new home. Each party will sign the closing papers, either together or separately. Once you’ve closed, you will be the proud owner of a home!