Buying a home can be scary. C’mon. Admit it. This IS a big deal. No matter how much you research on the web, no one tells you where’s the best place to start your home search. But, everyone tries to sell you.
You’ll find tons of agents saying “I’ve got 1 million years of experience, I’ve sold 1 zillion houses, I’m the #1 agent” and banks promising a mortgage in 15 minutes or less. Sound familiar?
The best place to start is with you. While this will probably make most agents pass out, the first question to ask is “Do I want to do this or do I feel I have to?”.
Buying a “big ticket item” is stressful. Deep in your gray matter a little voice asks “Are you sure?” This is normal. As a result you do some trial runs before committing to buying a house.
You surf the web, go to a few open houses, take it slow. One day you say to yourself, OK, I’m in. Let’s go get a house. So now you’re up at 2 am looking online, spending Sundays at open houses and eventually looking with an agent.
This is what most home buyers do. It’s always a mistake. Why? Because the best place to start is with a banker who insists on a full pre-approval before you begin your home search.
I know, it’s a royal pain in the neck. That horrible banker wants tons of paperwork. This is work! Yes it is.
While it’s easy to learn what you qualify for, that’s not enough. Most of all you must know what monthly payment is right for you. No internet algorithm does this.
So forget the space ships, forget Happy Banker who asks for nothing and the lousy agent who allows this to “close you”. Do it right.
Need help in finding a good banker? Stay tuned – that’s my next article in this series on Buying A Home.