How to be proactive in the homebuying process
If you are a homebuyer, and especially if it is your first time, it can be easy to be reactive during the buying process. After all, buying a home is a long, detailed, expensive, and often confusing ordeal. Many people get tripped up and frazzled and stumble along without clarity or vision. It’s only in hindsight, after the process is over, that they see ways they could have gotten a better deal, or what they should have done differently, or how they could have been more proactive.
That’s why it’s essential to go into home buying with foresight versus hindsight. Foresight means you have done your research and preparation with due diligence, and you are more capable of handling setbacks and problems. While foresight doesn’t mean you won’t make mistakes, it does mean you’ll be more empowered during the process and may have fewer regrets in the end. Here are some ways to have foresight in the home buying process.
Research
From the neighborhoods and location to the history of the house, doing your research on the properties you’re interested in will help you ask the right questions and not be taken in by unprepared (or malicious) owners. Having an agent will make the process easier to navigate, and they can help you get the information you need. But don’t just let your agent do all of the work! By contributing, you are taking ownership and it will be harder for errors to get by both of you.
Prepare
Research is a part of the preparation process, but so is gathering records and materials, preparing your finances and having a clear and realistic understanding of your budget, and working with your agent to clearly define what you want. Some steps may include getting pre-approved for your bank loan early and getting recommendations on good home inspectors in your area. By preparing, you will go into the process with less reliance on your emotions and more reliance on the facts.
Don’t Cut Corners
When you’re in the thick of the home buying process, it’s tempting to try and cut corners. Maybe you don’t think the home inspection is that big of a deal, or you wait to get approved for your financing, or you don’t really think you need that house insurance. The cost of all of these steps can be intimidating, but buying a home is an investment worth taking seriously and doing everything possible to protect yourself. The steps are there to help and empower you!
