Whether this is your first time purchasing a home or you’ve been through the process before, it’s important to be educated before making such a large investment. By asking the right questions, you’ll gain a better understanding of what you can expect when buying a home. As a real estate agent serving the areas of Denton, Lake Dallas, Frisco, Flower Mound, Argyle, McKinney, and Corinth, TX, Big Journey Homes - Lauri Bauman at Keller Williams Realty has assisted many buyers. Here, she answers some common questions about the process.
Questions Homebuyers Often Ask Real Estate Agents
How Much Can I Afford?
The answer to this question will vary greatly from buyer to buyer. To figure out how much home you can afford, create a budget that accounts for your income, debt, and monthly expenses. Once you’ve figured out how much you can put towards a mortgage each month, get pre-approved for a loan, so you know what price range to look in when house hunting.
Do I Need a Real Estate Agent?
It’s strongly recommended that any potential homebuyer works with a real estate agent. They will keep your best interests in mind and provide expert guidance to help you find homes, fill out paperwork, handle negotiations, and navigate the closing process. Their advice can also help you avoid making a bad decision.
Why Is an Inspection Necessary?
Mortgage lenders usually require applicants to get a home inspection as a condition of their loan. However, it also allows buyers to learn whether or not there are any major problems with the property before they commit. This can prevent you from having to pay a significant amount for repairs out-of-pocket.
What Are Closing Costs?
Closing costs are additional fees beyond the price of a property that must be paid before the transfer of ownership can be done. These may be paid by either the buyer or seller, depending on the terms of the contract, and can include expenses such as property taxes, inspection, appraisal, and homeowners’ insurance.
The key to succeeding in your house hunt is being prepared with the knowledge you need to make decisions. Your real estate agent will be there throughout the home buying process to answer your questions and clear up any confusion you may have. Contact Big Journey Homes - Lauri Bauman at Keller Williams Realty at (940) 321-5111, or visit her online to browse current listings.