PROPERTY NEWS - Buying a home should be an exciting time in your life. If you plan well and work with people who are looking out for your best interests, you can minimise the stress and enjoy the process of purchasing a new home. Here are eight tips for avoiding stress when buying a home.

Be a smart saver

Long before you tour potential properties, lay the groundwork for a good home buying experience by saving up for your down payment. Having some money to put toward the purchase gives you more flexibility when it’s time to get a loan.

Know what your credit report says

Check your credit report to see if there are any mistakes or problems you can clear up before applying for a mortgage. There are lots of free credit report scores offered online.

Learn about loans

It’s important to find a loan that’s right for you and that you can afford. A good way to start would be to research and find out as much information as you can about the various types of loans and assistance programs.

Get pre-approved

You’ll put yourself in a strong home buying position by getting pre-approved for a mortgage. However, you should always be realistic about how much you can actually afford. You should take a hard look at your own finances and future plans to make sure you are living within your means.

Determine what you really want

It’s important to have a clear vision of what you want before beginning to look for a home. Figure out what features are most important to you and decide if there are some items you could look past if everything else falls into place. Determining your must-haves can help you in quickly making decisions about which properties you want to view.

Make sure you have professional assistance

Whether you’re buying or selling a home, finding a right real estate agent is crucial to your success. A good real estate agent should explain the entire process, help you negotiate, keep the transaction on track and make sure you have the information you need to make good decisions.

 
Understand what goes into an offer

There’s much more to a good offer than deciding what price you’re willing to pay. Before you start searching for homes, talk to your real estate agent about earnest money, option periods and fees, inspections, contingencies, closing time frames and other factors that may make your offer more attractive to the seller while protecting your interests.

 
Don’t let up after your offer is accepted

Not every transaction ends up with a closing. However, if you and your realtor both stay on top of the deadlines, your chances of getting the keys to your new home are more likely.

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