It’s your turn!
After watching what feels like everyone you ever went to school with get married, have children, and buy a house within five years of graduating — even though you know there’s no way that is statistically possible — it’s finally your turn to buy a home.
A home is a place where it doesn’t matter if you’ve graduated, if you’re married, or if you have kids. You’re your own landlord and no more sharing a wall with that one neighbor who sounds up to something sketchy and is suspiciously nice. Sounds heavenly, right?
Well, now is the time to make it happen! Ditch that not quite broken toilet and move into a custom built house of your own. Maybe this is your first time handling any sort of paperwork or maybe it’s been awhile, regardless, we’re going to cover all of the basics you need to know before signing on the dotted line for your new house.
It’s best practice to get pre-approval before going out to see your house. Like all big purchase decisions, you should be looking at options slightly below your budgeted means in order to maintain a balanced checkbook and financial health. Here are some things you should keep in mind when it comes to qualifying and applying for a loan.
- Lender will be looking to see how long you work at your jobs. They know that it’s best not to loan money to someone who hasn’t been with the same company for at least two years.
- Don’t oversell your salary. Sure, we won’t judge if you tell a little lie to your mom about how much you make, but shoot straight with your loan officer. Especially, don’t count on a commission or bonus that hasn’t happened yet.
- Find all of your financial statements before you apply. That way you can give exact answers immediately.
- Be aware of what your credit looks like. Pay off any outstanding debt, keep your balance below 30% of your limit, and know your score before going into the process.
- Lastly, don’t be afraid to ASK, ASK, ASK! Don’t agree to or sign anything where you still have even a shadow of a doubt. Noone should pressure or coerce you into borrowing money from them and if you have a bad feeling, find someone else.
Now that you’ve been preapproved and you know what your budget looks like, let’s talk about the fun part! Walking through the house and getting to imagine your new life there is arguably the best part. We have a variety of floor plans to offer multiple options and styles depending on what sort of lifestyle and home life you’re looking for.
We’re going to cover a short list of things that you should look for and be aware of while you’re going through the walkthrough of your possible home. Basic things that you should check in a newly/recently built home are the windows, the roof, water presence, weather stripping, and landscaping. These are all things that you should check have been installed properly, securely, and don’t have any imperfections that will cause issues later. You should also take into account the trees surrounding the property, if there was a big storm, is damage to your house likely? Be aware.
Once you go inside, inspect the small details like how the doors fit in their frames, how the trim sits along floor, where the carpet seams meet, if there are holes in the tile grout, or if the wood floor is level. As with any home, turn on the appliances and run the faucets to make sure that the heat, pressure, and plumbing are all working properly. We suggest bringing a small appliance with you like your phone charger or a hair dryer to test the outlets. Look at your cell phone and make sure there are no upsetting dead spots; you don’t want to lose service every time you sit down on your living room couch!
Lastly, test other systems like the garage door opener and check that every detail has been taken care of. It would be disappointing to find out a week after moving in that all of your cabinet doors are attached backwards! Also, go up in the attic and check for any dampness, leaks, or insulation mistakes. All of this might seem excessive, but we believe that you should get your money’s worth and be 110% thrilled with the house your receive.
Remember, if you’re buying your home through UrbanLUX Builders, you are going to have options to customize! Choose your floor plan and then feel free to customize your home to match your lifestyle. For example: maybe you love hosting Thanksgiving dinner, then may we suggest an extra oven? Or maybe you’re only 5 foot 7 inches tall. Have your kitchen island lowered by 4 inches so that it sits comfortably at your middle, where it is supposed to. This is the time to make your model unique to you through custom amenities and sizing that makes you feel at home.
Nobody was born knowing how to negotiate. Especially if you grow up in a culture where bartering and negotiation isn’t common. For example, a young American adult stands little hope of negotiating a favorable deal with a young adult from the Indian state of Gujarat, known for their business savvy and competitive pricing rapport. So the idea of negotiation just on its own can be daunting, without the added pressure of actually having to follow through on the action of bartering. Instead of accepting whatever deal comes across the table to avoid the uncomfortable position all together, we’re going to teach you how to get yourself the best possible deal.
- Be educated. Do you best to know the market you’re buying in and understand the demographics of the other buyers you might be competing against. Additionally, know how many other offers are on the table and how they differ from yours.
- Be creative. It’s easy to be focused on the price of the property you want but remember, it’s other people who are selling the house. Be detailed in why you want the house — maybe the house holds emotional significance or historical interest to you. There is more than one way to make an offer. A seller may be more likely to accept your offer, even if it’s lower, because you can pay cash immediately or can pay a higher deposit.
- Be smart. Don’t go for the first asking price and recognize that sometimes “the perfect property” might slip away during the negotiations. Stay on your own track and don’t make any snap decisions because you may regret them later.
We know what it means to have a home to call your own, even though it can be as simple as four walls and a roof. Call UrbanLUX Builders today to begin building or customizing your new home in the San Antonio area.