Every people has a dream to own a house in the chosen areas. But buying a house is not a simple task because there are a lot of things to look and consider. These things are common location, price, condition, size, community standard, schools, college, and many more. There are also more legal issues such as listing, owner history, and property records. Additionally, you may need to finance to buy a house in case you don’t have cash money right now and it takes a little bit a long time indeed. All these things may take around 45 to 60 days . Simple research and study can be helpful for you to learn how buying any real estate property such as house.
When you are an authentic buyer to buy a house, you must learn every process and factors step by step to make sure you can buy a house without any real estate attorney or any professionals support . When you can learn these factors, you can reduce the cost of real estate attorney and you will be well versed in this setting. So, we are going deeper to discuss how long does it take to buy a house and what factors look in the process of buying a house.
Content Outline
Important Things To Look For Buying a House
It is important to make sure that you are studying the house you are going to buy. You just don’t look at the outer appearance. Rather you go deeper because your living place is your sleeping place which should be safe and secured.
Exterior Cracks and Tilts
A new buyer has to go through a lot of issues when they are going to buy4 a house for the first time. When a seller is going to sell the house, surely, they are furnishing the house even if the house has a lot of exterior cracks and tilts. You must ensure that the house is free from exterior cracks and tilts from the ground.
In most cases, these exterior cracks lead to a bigger structural problem which may be so risky. If there is any bigger structural problem, the house is more prone to fall down to an earthquake and cyclones. So, you have to give up your choices for these exterior cracks and tilts.
Ownership History
The owner of the house is one of the most serious issues. In that case, there are a lot of paper works which should be scrutinized effectively. You may find your home’s previous owners or purchase history, you just go to search your county tax assessor’s office, county recorder, or your city hall.
In addition, you may call 411 directory assistance to get the address and phone numbers of individuals. In many cases, the owner may be fake but he is ready to sell the house. So, you should be careful about this issue to avoid any legal hassle in the future.
Type of Lifestyle Would You Like To Live
Your lifestyle should be merged with your living place. Truly you are so focused on a calm and peaceful environment in your house. This could ensure your mental satisfaction. These things are-
Bedroom
Your house is a part of your lifestyle. You should merge the house with how you are going to lead your life. For example, bedroom is not just for sleeping rather this could be an office, gym, and hobby room.
When you are going to buying a house, it is the most important issue to consider look about the bedroom and how you want to use the bedroom. In addition, today’s condition won’t be the same after 10 years or 20 years. So, you see your future and think of the need for the bedrooms.
Bathrooms
A house can’t be imagined with limited bathroom because a bathroom for a room is now common for the people who want to go more personal living. Now a house is featured with luxurious types of bathrooms and additional bathrooms can be added feature for the buyer.
Additionally, the bathroom’s location in the house can be another issue to consider. There is a recent trend of the bathrooms which is bathrooms and kitchen remodels can add the best value of the house. So you have to look bathroom limitation before buying your dream house.
Storage
Storage is a place where tools and other accessories are stored. The storage will depend on what lifestyles you are going to lead. For example, you have a car so you need storage in the basement. In addition, the house may require different maintenance and repair. For this you should need storage to store different tools and things safely and in an organized way.
Stairs
When the house is an upper floor, truly you need to use stairs. But this stair may not be effective in case you have physical limitations or physical incapacity to use the stairs. So, you have to make a choice in case you need a house where you are to use the stairs. For this, you may need to choose the ground floor to avoid using the stairs.
Privacy and Noise
Noise is really disturbing for a sound sleep. Truly you are going to buy a house for sound sleep. But the house is beside the college, school or busy street. Then your house should be in the place where you may get the house noise-free. Additionally, the room in the house should be close to one after one so that your children can play but you don’t hear a sound. All of this depends on the layout of the house. So, you make sure this before buying a house.
Budget
Buying a house is not just like a smartphone. It is expensive and it is a big investment for you. When you are going to buying a house, you should look at your pocket. Truly the price of the house can vary according to location. So you need to guess the price before going to any deal such as buying a house.
Imagine Your Ideal Outdoor Space
Different people have different choices on a house. A house is not just a place of 3 or 4 rooms. It is a place of mental satisfaction. So, you may plan an outdoor space for your house. Some key factors in the outdoor are-
Size
You are a little bit broad in terms of outdoor space. When you have children, they need to run and walk freely. For this, outdoor space is really an important issue to consider but this can add up the value of the house. But it is also possible to get a low cost and less expensive outdoor where you can set up a pool, a small garden and free space for walking.
Shade
Surely a yard may be equipped with forest’s shade but you may like the sun. But sunlight can be good in case you want to make a garden in front of the house. So there should be enough light conditions so that you can grow tomatoes and other vegetables. It is really important to have a little space in front of the house for a small garden.
Backyard Patio
When you are choosy to make a choice in your house, you may need to go backyard patio which can provide you a lot of rooms for relaxation and entertainment. Truly you need to make sure what type of stone materials you are going to choose for custom patio. Additionally, you may hire a landscape contractor so that they can create custom stonework with your ideas.
Custom Fire Pits
Custom fire pits can be an awesome choice for your house. You just set it in your backyard and surely this can be used for the much of the year. Even if there is winter, you may enjoy just like a summer season after setting it up. there are different sizes and shapes of the custom fire pits such as stonework to wood or gas. Even if there are a lot of options, you choose the best one for your need.
Water Features
Surely you want to live with nature and this can be possible in case you have a will. Now the backyard can be equipped with natural water and add the sound of trickling water. Surely you will have a comfortable feeling and relaxation with this water feature after a hustle and bustle of life.
Outdoor Kitchen
An outdoor kitchen may add something new in life and most of the women understand and feel it. Truly a house with this set up can welcome your friends and relatives for a BBQ party, grilling of delicious foods. This is going to be a part of a picnic even if you are staying at your house. So the outdoor kitchen can be set up easily in the backyard to make a little difference in the taste in living.
Outdoor Lighting
The outdoor lighting system can be another awesome issue to consider. This can let you arrange a relaxing music party with your friends. Most of the culture-oriented people may prefer this feature of the house. Surely the backyard is the place where this can be done by installing custom outdoor lighting to make sure you can feel a relaxing mood.
What Matters Most in a Neighborhood
You are moving to a new place as you are going to buy a house in a place where everything is new. So it is important to study a little about your neighborhood indeed.
Schools
You have to consider schools which may be required for the next ten years. When you have options for elementary school, this can be a good choice indeed. Additionally, high school may be another good feature that you may choose.
Amenities
In the community, there are libraries, parks, pools, grocers, and retailers. But it is also good to shop in the farmers market. In case this market is far away from that location, you should consider the travel time. These amenities can be good to live with peace in mind and these can literally ease your life in terms of living.
Pet-Friendliness
When you are alone, you spend your time with your pets. Your living place must ensure a better opportunity to let your pet live. So, you think of enough sidewalk and space where you can walk with your dogs or cats. Additionally, you may have other types of pets but you should make sure that there is no community restriction.
Walkability
When you have a car, you as the buyer must need a large garage so that you can keep your vehicle safely. But things may be different when you don’t have one. When you use the neighborhood sidewalks, walking paths, or bicycle paths, you should know how these work in this community to use the space of the neighbor.
Realistic About Home Repairs
You do a little study on different things such as roof, electrical conditions, and many more. These things are important as there may be a fault which can cause an accident later.
Fascia, Soffits, and Gutters
Fascia are defined as longboards that connect to a roof’s lower edge. Gutters are generally connected to the fascia. On the other hand, the soffits are effectively tucked underneath. These are the most important places where one should check out the sign of water damage perfectly.
Roof
The roof is the protection and it provides shade and security from raining, storm, and cyclone. There is a life expectancy of the roofing materials. It is important to measure how long the roof can sustain. So, you may ask for checking and repairing the roofing before buying the house in case you see that there is an issue with repairs.
Electrical
When you are not going to buying a new house, it is important to look for electrical features. There are junction boxes or a lack of high amp outlets. But electrical functions can be a little bit difficult to measure. So, you may hire a professional to make sure you can inspect and get some findings. On these findings, you may have a budget to repair it and It can be reduced indeed.
Steps To Buy a House
Buying a house includes a lot of important tasks look and these are so important. You firstly seek for the right house and then come to a closing table after an agreement. So, these are-
Searching and Finding the Right Home
A house is a nest for the rest of life and it is a place of ultimate peace of mind. When you are searching a house, you are counting a lot of issues such as noise-free, green beside the house, and located in the place where community services are easily available. But it is really difficult to find out the right home for you. So, you may take a long time to search the house.
Getting an Offer Accepted
It is really difficult to find out the perfect house for you. Even if you have searched a lot and got a few ones. But you need to put in offers on a few homes before you receive an offer accepted. Truly the decision on offer on a home may be very difficult in getting an offer accepted.
Negotiating
Negotiation must go on because both buyers and sellers want to stay on a win-win approach and it ends by reaching an agreement. This negotiation may last for a longer time and commonly there are many rounds of counter-offers and negotiation in terms of repairs and appraisals can be really lengthy process.
Financing and Pre-Approval
Placing cash can be an awesome deal to buy a home but not all buyers are ready with cash money. So when you as buyers need to finance, you may go for a pre-approved loan and have the loan underwriting and appraisal completed. But the report shows that it is a little bit difficult to arrange documentation for getting a loan and going through the underwriting process with the lender as well.
Finalize the Loan with Your Lender
Surely you need to spend time getting a loan because there are a lot of paper works which may let you pass for 30 to 45 days. The lenders will complete their process-wise works to approve your loan. After the home inspection, appraisal, and requests for additional documents review, your loan is approved. You note that you may need a longer time when you are getting a loan from FHA and VA loans.
Closing Time
After completing all tasks, there is a closing item to complete all process of buying a home. Before going to sit in the closing time, you just do a final walkthrough to visual inspection of the condition of the home. You may need to go for repair and maintenance and it is really important.
Part of closing time, you have to head to the title company’s office to make sure you are singing the closing paperwork. In case there is no complexity of the deal, the closing may end within a few hours. After that, you get your keys and take the preparation to move to a new house.
The Best Time to Buy a House
There are different times when the price of the house may fluctuate. This time is really awesome to buy a house. Additionally, there are also some factors to look with this time that facilitate the buyers to buying a house at a reduced cost.
For More Options, Shop in the Spring or Summer
There is a seasonal time for shopping for houses. The housing time may not be static because the market may be easy with a lot of options to buy houses in the season of the warm. So, spring or summer may be a good time to go for choosing plenty of homes. Truly peak season lets buyers move here and there to make sure they can buy a house. So, you understand the season that provides numerous options and opportunities that reduce the cost.
For More Extra Negotiating Power Shop in the Winter Months
There are fewer homes on the market during the colder months. So there is negotiation in reaching the agreement. It is also important to note that more negotiation means reducing the cost of the house. So buyers are going to get cost-saving opportunities for savvy home shoppers. This time also can let you give a house at the best possible price. It is because not so many buyers are gathering at this time to buy a house. Where there is less competition, there is less price of the house.
Another issue is that listing the house in the winter may be another opportunity for shopping in the winter months. This can be a good motivation on the side of the seller to sell the house because most of the people avoid listing in this season.
When people are moving to another place and they are quicker to sell the house at a lower price. The negotiation is much easier because the seller tries to sell the house anyhow. You need to understand it from the side of the seller to get the house at a lower price indeed.
Is it a Good Time to Buy a House in 2020?
The year 2020 is a positive time for the buyers to buy a house. Over the years, the housing market has been developed which is really good for renters and home buyers alike. In addition to this, cases from the real estate business have shown that the buyers are better off than renting. It has been found that buyers are much more capable to buy a house instead of renting.
When you are going to buy a house by financing, 2020 can be the right year to buy because the interest rate is low this year and the next year 2021 can be a little bit difficult to buy a house due to a higher interest rate. The financial market is a little bit cold down and it is the right decision to buy a house in 2020.
Final Verdict
A buyer has to go a lot of steps to buy a house and these are really time-consuming. But there are some important factors at this time that a buyer needs to understand. Additionally, you should spend time on what you are going to avail from the house. It is clear that buying a house is not a short time’s task that you see and buy it. in case you make a mistake in buying a house, this can make you suffer in the long run. So you should be a little careful in choosing the house and consider to look important factors for buying the house.