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Because buying a home is the biggest financial decision you’ll ever make, it’s important to do your research and have a strategic plan in place before you start house hunting. With proper preparation, you will have a better idea what to expect from the home buying process and can keep it from being a stressful experience. As the top real estate franchise serving Iowa, Minnesota, Wisconsin, and the Dakotas, EXIT Realty Upper Midwest has helped numerous clients successfully close the deal on the home of their dreams.

The company is here to provide a few vital steps you need to take to make sure you’re ready to begin the home buying journey:

  • Hire a Qualified Real Estate Agent: There are several benefits to working with an agent from a trusted real estate franchise. They often have access to more listings and can put you in touch with all the right sources. They will also handle negotiations, make sure all your paperwork is completed correctly, and offer knowledgeable guidance throughout the process.
  • Determine Your Budget: Carefully go over your finances to determine a realistic budget. Your home search can’t start until you know what price range to look in and how much you can afford to spend each month on a mortgage payment. It’s essential to factor in all your expenses, and you must have enough cash left to cover any repair or maintenance issues that may arise.
  • real estate franchiseDecide What You’re Looking for in a Home: If you don’t have a good idea what you’re looking for, house hunting can get quite overwhelming. To narrow down your options, it’s best to decide what kind of home you desire and which features are must-haves. These are things that are non-negotiable, such as size, location, outdoor space, and floor plan.
  • Become Familiar With the Local Market: Even if you’re working with a real estate agent, it’s helpful for you to become familiar with the conditions of your local market. Knowing how quickly homes are selling and what the comparative sales are determine things like how fast you must put in an offer on a house and how much power you’ll have during negotiations.
  • Secure Financing: Getting pre-approved for a mortgage is one of the wisest things you can do in preparation of buying a home. This will set the limits on exactly how much home you can shop for. A preapproval letter is also appealing to sellers and will often put you at an advantage over other buyers who haven’t taken this step.

The more prepared you are to enter the housing market, the smoother the process of purchasing a home will be from start to finish. Contact EXIT Realty Upper Midwest at (612) 414-4022, or visit the real estate franchise online for additional buying tips. 

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