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The beginning of the best part of home owning. SHOPPING!!!
After preparing your financial documents, and submitting those to a lender, hopefully you'll have received back from them a pre-approval letter or a pre-qualification letter. Either should give you some ability to now start looking at getting a home. Before you start your search, there's a couple of things to get clear on before you step into your first home, and some things to keep in consider to make for a successful search experience.
What to Get Clear on Before Beginning your Search
Before you start touring homes, take time to define your priorities, research neighborhoods, and fully understand your budget to ensure a smart and efficient search.
✅ Define Must-Haves vs. Nice-to-Haves – Separate absolute necessities (number of bedrooms, location, price range) from wish-list items (updated kitchen, finished basement, large backyard). This helps you stay focused and avoid getting distracted by cosmetic features.
✅ Research Neighborhoods in Advance – Look into home values, school ratings, crime statistics, commute times, and future developments. Even if you don’t have kids, a strong school district can increase property value. Visit at different times of the day to get a real sense of the area.
✅ Understand Your True Budget – Being pre-approved tells you what you can afford, but that doesn’t mean you should max out your budget. Factor in:
Property taxes & homeowners insurance
HOA fees (if applicable)
Maintenance & repairs (older homes may require more)
Utilities & daily costs specific to the home’s size and location
✅ Get Pre-Approved, Not Just Pre-Qualified – A pre-approval (vs. pre-qualification) means a lender has verified your financials, making your offer stronger and more competitive, especially in a hot market.
👉 Pro Tip: Use the 28/36 rule—your mortgage payment should be no more than 28% of your gross monthly income, and total monthly debt (including the mortgage) should stay below 36%.
Strategies for an Enjoyable & Smart Home Search
Touring homes can be exciting but overwhelming. To stay focused and make confident decisions, use these strategies:
✅ Limit Home Tours to 3-5 Per Day – Seeing too many homes at once can cause details to blur together. Take notes, snap photos, and rank each home based on your must-haves.
✅ Check Beyond the Aesthetics – Pay attention to functionality:
Test water pressure in sinks & showers
Open closets to check storage space
Look at natural light at different times of day
Listen for noise levels (traffic, neighbors, etc.)
✅ Be Ready to Act Quickly in Competitive Markets – Homes can sell within days, so if you find the right one, be prepared to make a strong offer fast. Consider:
Offering slightly above asking price (if competition is high)
Including an escalation clause (automatically increases your offer if others bid higher)
Limiting contingencies (while still protecting yourself)
✅ Stay Flexible & Keep Emotions in Check – No home is 100% perfect. Focus on what matters most, and don’t let emotions drive you into a rushed or overpriced purchase.
✅ Work with a Trusted Real Estate Agent – A knowledgeable agent can guide you through market trends, negotiations, and potential red flags.
👉 Pro Tip: If a home is slightly over budget, ask the seller to cover closing costs instead of negotiating the price down—it can save you thousands upfront.
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