The process of looking for a home and buying one can be challenging. You have to put a ton of work in, and it’s almost always going to be more work, energy, and time than you expected.
If you are a first time home buyer and are totally new to the process, you might be thinking that you need to ask questions but have no idea what to ask! That’s why we’re here. Read on to find out the questions you need to be asking when you’re in the process of buying a home. It never hurts to be prepared and ask tons of questions.
By the way, most of the top Chandler Homes for Sale are listed on the AZEF Real Estate Group website for easier consumption. Why go with a firm like them? Because they have experience finding and working within the east valley, so it makes them experts within their field.
The Top 3 Questions for Home Buyers in Chandler
1. What Type of Home Can I Afford?
When you’re in the process of searching for and buying a home, it’s a good time to estimate what type of home would be a good fit for you. The home you can afford may be out there in your price range and may also be more of a fit for you than you ever imagined. But to really effectively home shop, you have to know what your budget will likely be. Some folks prefer to shop in the home range of thirty to sixty thousand, others are willing to spend around one hundred and fifty thousand to two hundred thousand dollars.
What your budget for home shopping will be depends on a few factors: whether you are buying a home for yourself, whether you are part of a couple buying a home, whether you are married and buying a home, and whether you have children or are planning on having children. All these things will factor not only into the type of home you are looking for, but the income and amount of money either saved or in loans that you will be putting toward the home for the initial down payment or purchase and the costs thereafter.
Do not forget that home maintenance, home insurance, property tax, repairs, et cetera, can also be draining financial costs that crop up after the purchase and will have to be paid by you in addition to your cost of living expenses. A good rule of thumb is to spend two and a half years of income or less on your home– something to keep in mind.
2. Do I Need to Take Out a Loan?
Another question you’ll likely be asking yourself is whether or not you’ll need to take out a loan. Luckily, this question is relatively easy to answer. Do you have all the money that you need to afford the type of home that you want? Do you have enough for a down payment or to build a home? If the answer is no, you’ll likely need to find some type of loan to cover what the rest of your savings cannot. Your local bank will be able to let you talk to one of their representatives and fill you in on whether you’re eligible, what rates and terms would be, etc. You can also go to your local credit union; they may have better rates as well.
3. Can I Do This?
So many home buyers get overwhelmed by the process that they panic and start wondering if they can go through the whole process. Yes, you can do this! With a good real estate agent, a little research and the determination to work through the bumps in the road, you can successfully buy a home. Thanks for reading and good luck!