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Buying a House Really Just Boils Down To These 5 Simple Steps


If you take a closer look at people buying houses, you’ll see that the average age is much lower now than it was ten years ago. More and more young people are deciding to take a risk and become independent, and owning a property is the best way to do that. While the process takes some time and can have several hiccups, the basic steps are fairly simple once you know them. The most important thing to remember is that with the right preparation and help, buying a house is an easily manageable task and goal. Here’s how it’s done!

Save money

Sounds simple enough, right? You won’t be able to buy a house without having a budget for it first, and you should be realistic with what you can afford. First, think about the type of property you want to buy and do a thorough research of the properties that are within your budget. If you’re a first time buyer in Southern California, the best option is purchasing a condo. Start small, build equity, and then one day you can roll that into a down payment for your dream home.

The first step – this will also be your mantra until you close the deal – is “stop spending, start saving”. This decision sounds quite hard, but it’s something that could be a real push in the right direction. Becoming frugal will help you save enough money and have something you can start with. Make a financial chart and write down the money you save and spend, and always try to see what you need to cut in order to save more money on a monthly basis.

Find a good realtor

It’s one thing to try and do the research on your own, but the results will be much better if you turn to a professional real estate broker. Not only will an experienced realtor help you find the best property, but you’ll be surprised how this process can relieve you a ton of stress – without costing you a dime.

The ins and outs of the market are hard to grasp and doing this on your own will get you tangled in properties with flaws you won’t even notice. It’s not worth studying the market and spending time trying to find that one perfect house everyone else wants as well. Let someone with experience handle this process in your stead and it will be quicker and more efficient.

Learn your responsibilities

Most new homeowners think that they’re done paying the expenses after closing the deal and moving into their new home. However, there are always some fees that need to be paid and it’s better to know the costs in advance.

If you, for example, bought an apartment, you’ll probably need to pay for the maintenance as well, but not that many people understand how important it is to find out what is a body corporate, yet that’s something you just have to do before making the purchase. These fees are compulsory and every owner needs to pay the cost for the apartment in order to maintain the top condition of the building. You’ll be fine as long as you pay on time, but that’s something your realtor will tell you when you go looking for places.

Check your credit score

Your financial situation will determine your ability to pay for the property and will become a crucial part in deciding whether you’ll be able to pay the mortgage at all. Before you make a down payment, try to save as much as you can in order to make this amount worth something. And don’t forget to do anything you can to improve your credit score before buying.

Keep in mind that the average down payment goes from 3 to 20% of the total mortgage cost. However, if you decide to put down more money, your loan will be lower. This will also make you more eligible for loans at lower rates because it shows your responsibility and ability to save money. This is why it’s better to think in advance and use the time to save money instead of making a rash decision.

Make the right decision and be ready to defend it

There are so many decisions you’ll have to make and you need to be ready for that instead of being indecisive and using too much time to think. After you deal with all the financial issues, think about the type of the property you want. Ask your realtor to show you different types and help you make the right decision.

You may think that a certain square footage is right for you, but people often don’t understand how big the actual space really is. Apart from that, decide on what type of neighborhood you see yourself living in and do a thorough research on the properties listed close to the house you want to buy. That will give you a perspective of your future house and help you understand whether the price is right or not.

Even though you think you’re not ready, if you follow these simple rules, you’ll be able to find a home and deal with everything included in the process. It won’t be easy and you need to prepare for a stressful period from the beginning of the search until the first night you spend in your new home. In the end, everything will be worth the trouble once you sign the papers and are ready to move into your new living space.

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