For many people, Spring time means the best time to search for a home. We have come up with a few tips that will hopefully help your home buying experience run a bit smoother!
The most important step to purchasing a home is getting financing. Often times people fall in love with a home first, instead of their loan. Work with a lender (CNE has one in house!) to obtain a pre-approval so when you shop for a home you know how much you can afford. The process doesn't take long, but there might be a credit report fee involved. This is customary with any lender.
2) Neighborhood Specialist
Find someone who is familiar with the neighborhood that you are interested in to guide you. Someone who can answer any questions you may have, or point you in the right direction if they can’t. If you're thinking about buying in Chattanooga, head to the City of Chattanooga's website to find the neighborhood association contacts. Your realtor might have a few people you can speak to as well!
Be polite and respectful, no matter what. Try giving the owners something other buyers will not, such as an extra day to move out. This will make the sellers more likely to agree to your deal.
4) Take a Tour
Be curious. Visit the neighborhood you like during different times of day. Become familiar with the atmosphere and make sure it is one that will accommodate all the needs of your household.
5) Trust Your Intuition
Make sure to stay inside your budget, but also do not settle. Buying a house takes patience, because that house will soon be your forever home. Be sure to list the pros and cons of whether this is the right time for you to make such a purchase. You will know when you have found the “right” place!
6) Use a HUD-approved Housing Counselor
Obviously, we can't round out this list without suggesting housing counseling! Housing and Urban Development (HUD) is the official source of all things housing, and we have a HUD-approved Housing Counselor on staff at CNE. According to HUD’s 2012 study of prepurchase counseling, nearly all (90%) of the participants in prepurchase HEC learn about homeownership readiness, budgeting and credit, home financing, and shopping for a home, and a smaller but still substantial proportion learn about home maintenance (63%) or resolving or preventing mortgage delinquency (47%). Our housing counseling is free of charge (be wary of those who do charge!). More information here.