Buying A Home
It’s exciting to start looking for your new home whether buying a resale or building a new one. Here are my suggestions as you begin your journey.
If you’re financing get pre-approved for a loan. This means the lender’s underwriter will look at all your documentation and determine what loan programs you qualify for. A pre-approval is leverage when making an offer on a home. As a heads up to get a confirmed mortgage interest rate it must be locked in and you must have a purchase contract on a home. Rates are always subject to change until you actually can lock your interest rate. Make sure you get a written document from your lender stating they have locked the interest rate.
What is your budget to buy your next home? Consider down payment, closing costs, repairs, all the monthly costs associated with owning a property, deposit, and out of pocket expenses before closing for application fees, appraisal and inspections. FYI: In Florida, if your financing your required to pay upfront for 12 months of homeowner’s insurance. Your Realtor and lender can help you plan a budget.
What is important to you about where your home will be located? Consider traffic in area, amenities, commute time to work or day care, nearest hospital, gated community, community amenities, schools, colleges, crime rate, utilities, internet service, etc. If you think there is a good chance you will sell your home in five years look at the market trends for selling in the area with your Realtor. Once you determine the location you want to buy a home in check out the neighborhood at different times of the day and also make sure you visit the neighborhood on the weekend.
Working with your Realtor get a list of homes together and drive by them first before making an appointment to see them. This will save you a lot of time and narrow down your decision-making process. Figure on doing some repairs to the home you buy. Put a dollar amount in your budget for repairs. If your buying a new home plan on a budget for adding in additional landscaping, paint, ceiling fans, light fixtures, and maybe changing out some flooring.
Plan your move: The day of closing is not the best day to move in or schedule vendors to the home. A closing date can be delayed for several reasons so it’s best to keep this in mind when planning. I recommend at least two days after closing to start moving in the furniture and scheduling vendors. If a problem occurs it gives you time to regroup.
You can search the Ocala MLS listings for sale here:
The Marion County Florida Interactive Map is great tool to use to find most anything in Marion County Florida.
Need to know where the nearest fire hydrant is to your home you can find it on the map? Find public schools, private schools, colleges, hospitals, Sheriff Substations, rail roads, scenic roads, subdivisions, flood zones, etc.