If you’ve never bought a home before, or it has been a while, the process can often seem a bit intimidating and overwhelming at times. Not only do you have to find or build just the right home, but you also have to procure the proper financing. Everyone deserves to find their dream home, whether it’s a older home that you opt to renovate or a completely custom home. Here in San Antonio at UrbanLUX Builders, we make it easy for you to get the home that you want. We provide custom homes and pre-constructed homes in master planned communities to make sure you home is truly perfect. But before you can call the movers and move right in, you’ll have to go through the home buying process. Keep reading to learn more about this process and what it will take to get into your dream home.
Decide to Buy a House
While it may seem a little silly, the first step in buying a home is simply deciding that you are ready to become a homeowner. This decision is never easy. The same can be said about moving. If you’ve outgrown your current home and are ready to move on, you have to go through a very similar thought process. Are your finances in order to buy a new home? Are you looking for a custom home, or just something on the market? Is this the right time for you to move? If you’ve made decisions on all of these questions and are still ready to dive into the home buying process, then let’s get started!
Sort Out Your Finances
Before you even start looking at houses, you will want to make sure your finances are in order. This means that you have a downpayment of at least three to five percent on the purchase price set aside. Make sure you have enough money for fees and anything unexpected that may come up set aside. You will also want to make sure that you aren’t planning any big purchases in the near future. Your finances should be stable for at least three months prior to starting the home buying process and you will want to have had a salaried job for at least a year. While you’re at it, take the time to pull any pertinent paperwork for the mortgage application process.
Once again, before you even start looking at houses, sit down with a lender. You’ll want to see what a bank is willing to finance you for and see if you’re a good candidate for a mortgage. Taking the time to go through the pre-approval process will allow you to know how much you can afford with your current financial situation, and can get the gears rolling for the mortgage paperwork. Having a pre-approval prior to putting in an offer on a home is exceptionally helpful and can add a little weight to your offer over individuals who may not have the pre-approval in order.
Find the Right Realtor or Home Builder
Once you have your finances in order and are ready to start looking for a house or property, you need the right Realtor or home builder in your corner. Take your time to interview these professionals in order to decide who you want to work with. If you’re going to be searching the market, make sure your Realtor is experienced in the area you want to look in and the types of properties you want to explore. If you’re looking to build a custom home, then you’ll want to find a home builder with experience building homes that fit your personal tastes. You’ll be able to discuss budget, location, and needs with your home builder and enter into a contract for the home of your dreams if you find just the right one.
Search Our Your Home or Sign a Contract
If you’re looking for a pre-existing home with a Realtor, this is the time where you will go on the hunt. You’ll look high and low within the area you’re considering and spend plenty of time visiting houses before you find a couple that you really like and fit your “needs” list. If you’re building a custom home, this is the best part of the process where you get to pick all the details from time to countertops with the help of your home builder. You’ll get to hash out all the costs and get started on your project after you’ve signed the contract for your building lot and the home builder’s services.
Make an Offer
If you’re searching for a home, once you’ve found one you really love, then you need to make a competitive offer on the home. Your Realtor can help you come up with a competitive offer based on the sale of similar homes in the area. Once you make an offer and it is accepted, you will then be under contract with the seller. If you’re having a custom homemade, this is the time you get to sit back and watch your beautiful new home take shape.
Work on Your Mortgage
During this entire process, it’s important to keep in mind that you have to fund your home. You’ll need to work with your lender to get the mortgage underwriting started and make sure you have provided all the necessary information to your lender. If you fail to do so, you may end up pushing back closing or running into other problems with the home-buying process. The sooner you get all the piece for your mortgage in place the better. This is true for either a pre-existing home or a custom home that is being built.
The last part of the home-buying process for any type of home is closing. Closing is the settlement of all debts and the transition of the property from one owner to another. Many different things occur at closing. Previous mortgages are paid off, your new mortgage goes into effect, all fees are paid, and keys are handed over. Closing makes sure that everyone is paid what was promised and that the property is in order as determined by the contracts. Once all of the papers are signed, you can happily call yourself the owner of a new home!
Here at UrbanLUX Builders, in the San Antonio area, we’re the premier home builder to work with in order to make your custom home a reality. There is no better team to work with who has the knowledge and experience to build you an incredible dream home. Contact us today to learn more about how we work and what we offer!