Buying a home for the first-time is an undoubtedly daunting process. Figuring out your mortgage, narrowing down the exact features and location that you want, dealing with the confusing jargon of the closing process—there are a lot of moving parts to keep track of!
Luckily, you don’t have to face it all alone. When it comes to real estate in the Piqua area, the Kathy Henne Team is more than well-versed. If you’re a first-time buyer and feeling a little lost, take a look at our quick guide to buying, and give us a call for more info!
Narrow Down Your Search
Take a minute to imagine your dream home, from the small details to the big picture. What’s the square footage? Is it close to work or school? Does the kitchen come outfitted with state-of-the-art appliances? Are the floors rich, genuine hardwoods?
Knowing exactly what you want in a home beforehand can save you lots of time in the search process. With our specialized search tool, you can narrow down your options without ever leaving the house, and schedule showings from there! If you need a little inspiration before you start, check out our featured listings for a few ideas.
Navigate Your Finances
Ah, the dreaded mortgage. Figuring out your options can be much simpler than you think! There are four standard types of mortgages, including conventional, FHA, VA, and USDA. The last three listed are available under special circumstances, so be sure to double-check if you qualify. If you need help breaking down the benefits of each, just let us know!
Once you have your mortgage figured out, you’ll need to do a little loan shopping. Meeting with more than one lender is the best way to guarantee that you get the best possible rate on your loan, and we’re more than happy to recommend a few top options. Want to estimate what your monthly payments might be? Check out our mortgage calculator!
Making an Offer
So you’ve found your dream home, figured out the mortgage, and are ready to make an offer. Before you sign that paperwork, there are a few things to do.
First, meet with your real estate agent to discuss the best offer to make. If you’re working with an experienced agent, then they’ll be well-versed in market trends so you can make a realistic offer. If your offer is accepted, then it’s time to kick off the inspection process! During this time, the home will be reviewed by an official inspector for any problems that need to be addressed beforehand. If the inspection does turn up some issues, then you’ll need to negotiate with the seller on fixing them.
Lastly, you’ll have to put forward earnest money to solidify your offer. Think of earnest money as a security deposit on your home. It shows the seller that you’re serious about the offer, and if your offer is accepted, the money will go towards your closing costs.
The Closing Process
Finally, after all of those long days of showings and meetings, you’re ready to close on your home. The earnest money has been paid, your down payment has been approved, and now you just have to worry about closing costs.
The biggest part of closing? Paperwork. Lots of paperwork. Luckily, your agent can help. From breaking down the tricky jargon to showing you where to sign, we’ll be around to sort through the piles right alongside you. You’ll also get plenty of help from your lender and lawyer.
During this time, you’ll also want to make sure everything is good to go with your homeowner’s insurance, you have utilities set up, and you’re ready to move out of your old place.
Buy Your First Home with the Kathy Henne Team
We understand better than anyone that the buying process can be intimidating—but it certainly doesn’t have to be! When you work with our team, we’ll be around to answer any and all of your questions, every step of the way.
Ready to get started on your buying journey? Give us a call today!