Resources for Buyers
Buying a home is a significant investment and it's important to consider several factors before making a decision. Here are some important things to consider when buying a home:
1. Determine how much home you can afford.
Consider factors such as your income, monthly expenses, and savings for a down payment. One of my preferred lenders will take a look at your finances and determine what the best purchase price would be to keep your debt-to-income a healthy ratio. I’ll connect you with one my preferred lenders.
2. Location
Choose a location that is convenient for your needs, such as proximity to work, schools, public transportation, and amenities like shopping centers and recreational facilities.
3. Home Size and Type
Decide on the type and size of home that fits your lifestyle and family size. Consider factors like the number of bedrooms, bathrooms, and overall square footage. Be sure to separate criteria based on needs and wants.
4. Home Condition
Inspect the home thoroughly during your inspection period. Hire a professional home inspector to check for any structural issues, water damage, or other defects that could affect the value and livability of the home. Their job is to find deficiencies within the home.
5. Resale Value
Consider the resale value of the home in case you need to sell it in the future. Look at the housing market trends in the area and the likelihood of appreciation in the property's value.
6. Financing Options
Explore different financing options and mortgage rates to find the best fit for your financial situation. I will connect you with the top lenders in the Des Moines area. This step should be taken first once you make a solid decision to purchase.
7. Homeowner Association Fees
Check if the home is part of a homeowner association (HOA) and what their rules and fees are. We will work together to give you all the Homeowner Association details like rules, covenants & restriction and even past minute notes if available.
8. Closing Costs
Keep in mind the additional costs associated with closing on a home, such as title insurance, appraisal fees, and attorney fees. During our consultation we will chat about all the expenses you could incur during the home buying process.
These are some of the most important factors to consider when buying a home. Make sure to do your research, ask questions, and work with a professional Realtor® like myself who can help guide you through the process.