A homebuyers guide

Congratulations! You are taking a big step- buying a home. You might have found one already, but you may still be looking for a home. Regardless, you will find this article helpful.

If you are just beginning your home buying journey, here are some key things to think through:

1. Define your budget- Before you start looking for homes, figure out what you can comfortably afford.

   • Use a calculator or talk to us today to get a realistic range to help you determine what your budget is.

   • Factor in more than just the monthly mortgage payment, including property taxes, insurance, utilities, and ongoing maintenance.

2. Choose Your Location- Your budget will influence your options, but location matters more than price. Consider:

   • School districts (even if you don’t have kids, this can impact resale value)

   • Commute time and access to amenities

   • Neighborhood safety and property tax rates

   • Homeowners Association (HOA) rules and fees, if applicable

3. Get pre-approved with your bank (this will expedite the process and is FREE to do) This will help you:

   • Determine your exact purchasing power

   • Move quickly when you find the right home

   • Have the confidence to make competitive offers

     Check out how Equity Bank can help

     
     
     

4. Contact a local real estate agent to help you:

   • Find homes that meet your criteria

   • Spot potential issues early

   • Negotiate on your behalf to get the best deal

5. ENJOY the process.

   • House hunting can take time, don’t let it overwhelm you. Be patient, stick to your budget, and remember you’re making an investment in your future.

6. Actually buying the home

   • Once you have landed on a home, use our Homebuyers Checklist to help you through the process

     
     
     

   If you are ready to make an offer on a home: you are likely working with a Real Estate agent and you have found the home, you are wanting to purchase. You know what your budget is for both the downpayment, and the ongoing fees and you know what you are pre-approved for.