How to purchase a new House? Here’s the steps to purchase a New Home

1. How to purchase a new house? Here's the steps to purchase a new home The home buying process is complicated and stressful. If you know what type and what you need exactly can minimise your problems. The home buying process is overwhelming. It is better to break the process into small steps to make it little complicated. This article explains a step by step guide to buying your new home. We have also shared some tips and tricks in the steps to make the process easy. Do your Research: No one wants to indulge in the initial process. They just want to take their step right in their home. But before putting the step forward, you must have the list of Do’s, Don’ts, needs and wants. This list directly turn into the priority of your research process. The research process also includes prices, type of house, neighbourhood, etc. This list will help the agent to find a home according to your requirements. Search online: Now, you have created your requirement list. Start searching the listings and look for the information present on the internet. Look for an agent: This step act as a stepping stone to buying a new house. Start looking for a good agent because you will be going to rely on him in the whole home buying process. He will the first person you will meet on the journey. You must have full trust in him. Have a long conversation with your agent. He will be the one who provides the home of your dreams. Select a lender: After finalising a good agent, the next step is to ask him to recommend for the lender. The mortgage lender must meet your financial requirements. This is an important step so you be careful while selecting a lender. He is the one with whom you will work closely during the process. Apply for a loan: After selecting a lender, ask for the right mortgage for you. For this, you have to consider some percentage of the income which you are going to spend on the house. The lender needs all the documents which show the proof of income, the status of the employment and all the financial status of the person. If he is satisfied with documents, he will approve a certain amount for the loan. Take a survey of the house: Now you have a good agent who is helping you in the home buying process and a lender who is fulfilling the financial needs. The next step is to take a tour of the houses. The agent will make visit the houses according to your requirements like price, housing type, location etc. Online listing helps in providing the quality home of your needs. It makes the evaluation process much easier and satisfying. Create a good offer: It is time to make an offer. You have to work closely with the agent to create an offer which not only specifies the money but also include the settlement dates and contingencies. You must also include conditions such as repairs that must be accepted by both the parties. Negotiation process: This is a little complicated process. Some sellers accept the offer but some of them give a counter offer. If a counteroffer takes place, it’s

2. time for negotiation. In this step, the agent will negotiate with the seller and provides the best value for the house. Inspect the place: After both of the parties agreed upon the offer, its time for the inspection of the home. You can hire a home inspector who can suggest the needed repairs and makes you aware of the major issues of the house. Appraisal: Now you have to decide a home appraisal to cover the mortgage of the lender. This is the closest step to the final settlement process. Crack the final deal: This is the closing of the settlement when both the parties agreed upon the contract and sign the ownership and insurance documents. When you are able to reach the final step, the agent will hand over the keys of your home.