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Preparing For The Bumps Of Buying A Home
When dreaming of your next home purchase, what comes to mind?
Is it the anticipation of the "fun of the hunt" and having the opportunity to look at a whole bunch of houses and dreaming about the life you might live in them? Is it looking forward to the moment that your offer is accepted on your dream home?
Or maybe, it's being carried over the threshold, to start your new life, in your new place?
When speaking with buyers at their initial buyer's consultation, we find that many buyers do seem to hone in on the beginning of the process of homebuying: the anticipation and fun of the journey; or the finish, when the process is behind them and they can celebrate with their new home.
It's important for a homebuyer to remember that to get to that finish line and celebration of buying a house, invariably there will be bumps along the path. Every deal is different, and working closely with a real estate professional will certainly prep you for that journey and the obstacles that may come along until the keys are handed over at the closing table.
As you prepare for your next home purchase, focusing on the end is important, while realizing the journey that lays before will still need to be taken one step at a time. Challenges in home buying happen to "other people," not to you, you might say.
And while we hope for the best, here are some examples of things that may pop up that you should be prepared for - and know that you can get through them, just like other homebuyers have gotten through.
You begin the hunt and quickly realize that the type of house that you really, really want, is way out of your budget, and you must make some compromises on location, amenities, or increase your budget.
You go to make an offer, and find out that in the time that you've been at the showing, another offer has been submitted and accepted.
You find that that there's a very limited selection of homes even available to look at.
You make an offer and it gets turned down by the seller, or outbid by another buyer.
Your home inspector finds a laundry list of things wrong with the house.
The seller is not willing to repair items from the inspection, and won't negotiate price.
Your lender seems to ask for so many documents, sometimes multiple times for the same document.
Something pops up on your credit report, and your financing falls through.
The closing is delayed and you need to figure out living arrangements in the meantime.
At the final walk-through, you discover that the previous owner has left a ton of their personal belongings behind for you to deal with.
If your homebuying journey has some hiccups along the way, know that you're not alone, and that other homeowners, just like you, have faced similar. The mistake that we make is getting stuck in the sometimes frustrating and quagmire of the process.
Go through the homebuying process being educated about what could happen, and with the end in mind, knowing that your closing day is coming, too.
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