find the home of your dreams

For some people, finding the home of their dreams is as easy as 1-2-3. They not only found their ideal house on the first day, but it was the first home they looked at. Most of us, though, aren’t so fortunate. Here are a few tips to keep the process as quick and painless as possible.

First off, get a pad and pen so you can list your wants and needs. In one column, list all the things that are absolutely necessary in a new home. In another column, write down the items that would be nice to have, but are not essential.

Maybe you want an eat-in kitchen. Put that on your “Needs” list. If you own a dog that loves to run outside, then a big backyard should probably to be on the list.

The idea behind listing these items is to find a home that has all of your "Needs" items and as many of your "Wants" list items as practical.

The next step is assessing what you can afford. Research shows that most people can’t afford the house they really want, so it makes sense to answer this question very honestly.

The best way to find out how much you can afford is by contacting a reputable lending company and asking to be pre-qualified or pre-approved for a mortgage. Pre-qualification involves an informal inventory of your income and expenses. Pre-approval is a bit more detailed. Here, the lender actually checks your employment and credit history, as well as any other factors that may impact your ability to pay back the loan.

Once you’ve determined how much you can borrow, add your down payment amount to the lender’s figure, and that should give you a solid idea of how much you can afford.

Now that you have your price range and what you’re looking for, it’s time to seek the help of a real estate agent. Do you have to use an agent? Of course not, but as a buyer it makes a lot of sense since it costs home buyers nothing to use an agent. A good real estate agent will also have a better understanding of the market than you do.

Note, however, that not all agents are created equal. Some are good and some are bad. Experience is often what separates the two, but that’s not always easy to tell just by looking at a person. That’s why it’s usually a good idea to call an agency and ask the office manager for the name of the office’s top selling agent. Then see if that agent will work with you.

Recommendations from family and friends are also a good idea for finding a good agent.

OK, you’ve got a good agent…now what? Start looking at homes. Then, once you’ve found what you think is the perfect house determine how much you’d be willing to bid for the home and then place an offer.

There are several factors to consider when placing a bid, like does he seller have other bids, how much have similar homes sold for, and are you willing to walk away from this home if they don’t accept your bid.

If you’re able to agree on a price, the next step is ordering a home inspection. A home inspector will look for defects in the home. If they find any, it’s up to you and the seller to agree on who fixes what.

Once that’s done, all that’s left to do is set a closing date and sign a large pile of papers. Oh, and you’ll have to hire a moving company. Unless, of course, you can convince your friends and family to help you move.