Steps in Preparing for Your New Home Purchase!

Posted by Jeremy Montoya on Monday, April 6th, 2015 at 10:37am

In Bryan/College Station, we have your typical hot Texas summers, and in the real estate industry, that heat takes on a whole new meaning, but don't sweat it. We are here to help you decide if are ready to make the move to a new home.  In the ever moving real estate market of Bryan/College Station, being prepared for that move all starts before the game even begins, as our market truly is a seller’s market. 

Here are a few ways to plan ahead to help prepare yourself to act quickly in the process of finding the home of your dreams. 

1)      Do your market research. Have you taken the time to find out what the market is doing in your area, and the area you are looking to move to?  Yes, in the process of making a good decision on the market, your real estate agent can always help you with the market research, but doing some before will help you decide what areas best fit your needs. 

Here are a few things to decide on beforehand:

  1. Area and/or subdivision(s) of interest to move.
  2. Price-range of area you are interested in moving to.
  3. School districts and/or schools of interest.
  4. Is this area a place of growth?
  5. House size and style, ie. Bedrooms, baths, study, split floorplan, gas vs electric.
  6. Needs vs. Wants of your new home, but be realistic
    i.      Which of these can you compromise or adjust?

Knowing these items will mean you will be more prepared to start your serious shopping once you start working with an agent. This will also help your agent of choice in finding the best properties within your search to minimize time spent seeing properties not fitting your ideal home.

2)      Have your financing in order.  In our local market, time is money, cash is king, and a prepared financed buyer is a close second.  If you do not have the option for paying cash on your next purchase, know what you have within your budget beforehand in order to make an appealing offer. When you have made the decision to look for your new home, your next contact should be a mortgage/loan officer.  By having your financing in order, you will now know what homes your can act on, and your upfront cost of the process.  Knowing these key items allows you to cut down on time wasted looking at options you would not be able to purchase due to your budget constraints.

With that, shop your options around from several banks and/or mortgage brokers to see what fits your needs best.  If you come in with an offer that is contingent on getting financing approved, a seller is likely to look at other offers as well that are pre-qualified due to the ability to move quicker.  The seller will also know that this buyer has the ability to pay what they are offering.  Remember, time is money, on both of sides of a transaction like this, and money talks.

3)      Have a dedicated, educated real estate agent. When you are ready to begin your search, find yourself an agent you are comfortable with.  Remember, in your search for your real estate representation, your agent is working for you.  Everyone has a different ideal agent, so take your time to seek out one that has the time to help you in the process, and be ready to be dedicated to them. There are numerous agents out there, find one that not only know the market and you are comfortable with, but that can help you along in the process.  With the market moving so quickly, a knowledgeable agent can help and/or hurt you in the process.  An agent that can get you the newest, best fitting options on the market, or even pre-market, will help you be prepared to go in from day one.

The process of purchasing a home is always a big decision in life, and will be one of your biggest investments.  As you can see, there are numerous steps to consider in the process of choosing your new home.  Knowledge is key, and having the assistance of a licensed professional throughout the process is always a great to help answer some of the biggest questions that may come your way.  If you, or someone you know, is interested in purchasing a new home, please contact me to help navigate the ever changing real estate market here in Bryan/College Station.

Jeremy Montoya
Cell: 979.820.1011

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