Steps to Buying a Home

Are you thinking about buying a new home? The process of purchasing property may seem as fun as it is daunting. Where do you start? What are your must-haves vs. real-wants? Who can you talk to? This article will help you better understand how to get started and what to expect throughout the process. 

Eight Steps For Buying a Home 

1) Determine Your Must-Haves

What do you absolutely have to have in a new home? 

A home is a major investment. It is also something that will occupy a substantial amount of your income and wealth. You don’t want to have buyer’s remorse after a purchase so significant. What do you need/want in a home to ensure it will serve its purpose for you and your family? 

• Minimum number of bedrooms and bathrooms

• Office space 

• Basement or crawlspace

• Square footage and property size

• Location 

It is difficult to find a home that meets all your desires, is in the right location, and fits within your budget. However, there are some aspects of a home that you may not be able to live without. Make sure you have those settled with your family as you enter the home-buying process. 

2) Establish a Realistic Budget

Real estate is a fantastic investment if you have the money for it. Some people make mistakes by entering the market too soon or by purchasing more property than they can reasonably afford. You should take into account the following while creating your home budget:

• No more than 28% of your salary should go toward your mortgage.

• You ought to have enough money set up to take care of routine maintenance and repairs.

• Even if you experience financial difficulties, you should be able to continue making mortgage payments.

• For fifteen or thirty years, you will be responsible for paying for your home. You must be certain that you are prepared to accept that responsibility.

Even though paying rent might seem like a waste of money, you should be mindful not to buy a home before you are ready.

3) Get Pre-Qualified for a Mortgage

Generally, to view houses listed by real estate agents, you are going to have to work with an agent. Most agents are going to want to see proof that someone is willing to consider lending you money to purchase the home. A letter of pre-qualification is necessary to have the best opportunity to purchase the home you really want. 

4) Meet with a Realtor

Once you have been pre-qualified for a mortgage, you can find a trustworthy real estate agent to help you throughout the process. Your real estate professional will be able to get a sense of your needs and wants, help you find the home of your dreams, and walk you through the entire home-buying process. 

To find an agent you can trust, ask friends and families for referrals, or search online for the highest-rated real estate professionals. 

5) Be as Patient as Possible

The process can be exhilarating and daunting. Be careful not to jump the gun on the wrong house. While it might seem frustrating to see several houses that almost meet your needs, the right home is out there!

6) Make Your Best Offer

When you’re ready to take the next step, make a solid offer. You want to find the balance between overpaying and losing the bid. Your real estate agent can help you make the best offer. 

7) Have Your Potential New Home Inspected

Entering into a contract for a new home is the beginning of a set of challenging, fast-paced steps taking you to the closing table. While this part of the process can be stressful and nerve-racking, you can’t skip steps. One of the most important steps is the home inspection. A home inspector will thoroughly assess your potential future property to make sure it is safe and that you are getting what you expect out of your investment. 

Finding the right home inspector is key. You want someone who:

• Has the appropriate licenses for North Carolina property inspection

• Knows exactly what to look for in each home 

• Can inspect a new and old residential property

• Will supply a thorough, detailed report

• Is flexible enough to meet your needs 

While home inspection does cost some money upfront, you can save thousands in unexpected repairs down the road. 

8) Fill Your New Home with Memories

Once your home passes inspection, and you gather your new keys at the closing table, it’s time to begin filling your new home with memories. If you are in the process of purchasing a home in the piedmont, foothills, or High Country of North Carolina, Mountaineer Home Inspection is your solution for a thorough property inspection. Contact us for all your home inspection needs!

Why Home Inspections Are So Important

Buying a home is an exciting and stressful experience. It’s exciting to think about moving to a new place that you’ll fill with many memories. You get to shop for something that will meet your needs and suit your family. However, it’s stressful to find a home that’s in the right location and checks all of your boxes. Then, once you’ve found that special place, the nerve-racking process of negotiation begins. 

Eventually, if your offer is accepted and you enter a contract, the real stress begins, and your purchase hinges on several factors going well. However, if you skip any step, you risk your investment and your family’s safety. One of the most important parts of the process is the home inspection. While it might seem like an inconvenience, it can make or break your purchase. 

In this article, we’re discussing why home inspections are so important to the home buying process:

What is a Home Inspection?

“A standard home inspection is a mostly visual examination of a home's structure and systems by an objective professional. The inspection gives an overall picture of the condition and safety of the home, so you can understand what repairs may be needed to get things into good shape.” - Nerdwallet.

The goal of a home inspection is to help make sure that you are getting the home you believe you’re buying. You don’t want to find yourself in an unexpected money pit. You don’t want to move your family into a home that turns out to be unsafe. 

What Home Inspectors Do

Licensed home inspectors walk and crawl through, around, and under a home to ensure it is safe to purchase. They are detail-oriented, knowledgable professionals who know exactly what kind of problems homeowners can face down the road that ruin their homeowning experience. 

Once they have performed their thorough inspection, they will prepare a report that details everything a homebuyer needs to know about the property. A good inspector will help real estate professionals and their clients interpret their findings, so they can determine how to proceed. 

What Home Inspectors Look For

While this is not a comprehensive list, a few of the things your home inspector will be looking for include: 

• Exterior windows, doors, walks, patios, landscaping, grading, siding, flashing, trim, decks, porches, etc.

• Floors, walls, ceilings, roofing, etc.

• Plumbing pipes, drainage, waste systems, water heating, etc. 

• HVAC, circuits, receptacles, smoke, carbon monoxide detectors, etc.

• Basements, bathrooms, garages, attics, fireplaces, etc.

• Appliances, ovens, ranges, microwaves, garbage disposals, dishwashers, refrigerators, etc. 

• Pests, wood-destroying insects, termites, mold, etc. 

Essentially, they’re looking for everything. 

What Happens if Home Inspectors Find Major Issues

Sometimes inspections do reveal issues that are of great concern to homebuyers. Some of the issues that can impact the value and safety of the home include:

• Mold: The existence of mold is a cause for concern. Mold develops where there is excess moisture, so if an inspector finds it, it is often in conjunction with water damage and other moisture issues. 

• Wood-Destroying Insects: The presence of termites and other wood-destroying insects (carpenter ants, carpenter bees, etc.) is something that gives homebuyers pause. An inspector will look for signs of active and past infestations and whether or not they have caused structural harm. 

• Structural Issues: If an inspector finds structural issues, it is definitely not something to ignore. 

• Plumbing and Electrical Problems: If your inspector finds leaking pipes, outdated plumbing, or electrical issues, they can haunt you if left unaddressed. 

Are you out of luck if your inspector finds major issues? The short answer is not necessarily. Often, your inspection can be a tool for negotiation. Of course, sometimes negotiations don’t work out, and your inspection can help you get out of a bad situation and avoid an unwise investment. 

How to Find a Quality Home Inspector in the Foothills and High Country

The right home inspector is someone you can trust. Your trustworthy home inspector will have an array of vital certifications and licenses. Mountaineer Home Inspections is licensed to serve North Carolina real estate professionals, homeowners, buyers, and more. 

When buying your dream home, it's easy to focus on the square footage, bedrooms, bathrooms, floorplan, etc., and miss the obvious and hidden problems that could end up costing you thousands in the long run. Mountaineer inspection can help you see the full picture and make sure you’re getting what you expect out of your investment. Contact us today for a thorough property inspection in North Carolina.