The Home Buying Process Uncovered
If you’re thinking about buying a home, ask yourself some questions to establish your priorities – which is especially helpful if you’re a first-time home buyer.
- Location: How will the location of schools, shops and transportation affect your choice of neighborhoods?
- Personal tastes: What size house do I want? What style home do I like – single family, condo, etc.?
- Budget: How much can I afford to comfortably spend?
There is also the question of whether or not to buy a new home. New homes tend to have more open living and family rooms, and they’re generally easier to maintain. However, homes built years ago often offer more total space for the money and larger yards.
Many people are charmed by the character of an older home, but deterred by potential maintenance costs. With a home warranty from Assurant Home Warranty®, you can be confident knowing that there’s a repair plan in place for covered items. This home warranty will cover the cost to fix or replace covered appliances and home systems, no matter how old they are.
Get Support: Resources, Tools & Real Estate Agent Help
While you’re thinking everything through, do a little research by conducting a property search and reviewing our neighborhood info. Use the mortgage calculator1 or connect with our affiliated mortgage partner, Guaranteed Rate Affinity, to learn more about getting pre-approved for a home loan, different down payment assistance programs and to review flexible loan options that suit your needs2.
Once you have established your priorities for what you want in a home, contact one of our friendly agents to help you find neighborhood information and properties that appeal to you. Provide as many details as possible about what you have in mind. This will help them determine which properties you should see. With a dedicated real estate agent in your corner, you can rest assured you will find the right one.
Home Buying Guide: Finding the Right Property for You
There is no set number of homes you should look at before you decide to make an offer on one. The perfect home may be waiting for you on your first visit. If it isn't, the house hunting process will help you get a feel for the homes in the community and create your “short list” of real estate listings.
If you're looking in more than one community, try to make the most of each house hunting trip. Stop by the local chamber of commerce to pick up promotional literature. You can also ask your real estate agent for maps and information about neighborhoods, amenities and recreational facilities.
Use a Mortgage Calculator
A mortgage calculator1 will help you estimate your monthly mortgage payment. Simply enter the price of the home, your down payment, home loan term and interest rate to calculate your monthly payment. Connect with our affiliated mortgage partner, Guaranteed Rate Affinity, to discover flexible loan options that suit your needs and apply for pre-approval to show sellers you’re ready to buy.
1This is not a commitment to lend. Consumers are advised to obtain a Loan Estimate. Rates are subject to change and are dependent on credit and underwriting criteria. Your actual rate, payment and costs could be higher. Guaranteed Rate Affinity cannot predict where rates will be in the future. Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate Affinity for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate Affinity does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information
2Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.
Coldwell Banker and Guaranteed Rate Affinity, LLC share common ownership and because of this relationship the brokerage may receive a financial or other benefit. You are not required to use Guaranteed Rate Affinity, LLC as a condition of purchase or sale of any real estate.
Guaranteed Rate Affinity, LLC; NMLS #1598647; 1800 W Larchmont Ave, Chicago, IL 60613; 773-516-6900. For licensing information visit nmlsconsumeraccess.org and grarate.com/licensing. Equal Housing Lender. Conditions may apply. Operating in the state of New York as GR Affinity, LLC in lieu of the legal name Guaranteed Rate Affinity, LLC.