In the United States your success is often measured by whether or not you own your own home. Owning your own home also shows that you want to be a permanent part of a community. Most homeowners participate in community activities, schools, and local businesses, which in turn helps the local economy. When new homes are selling, it usually means that the economy is flourishing and jobs are available, which is good for the community.
There are many steps that you should take when pursuing the purchase of a new home. The first step is getting pre-approved for a mortgage loan. This will tell you how much of a house you can afford so that you only consider new homes that are within your price range. Your lending institution will consider all your debt and compare it to your income and employment situation. Once the pre-approval process is complete, you will get a pre-approval letter from your lender stating how much you are pre-qualified for. This letter not only helps your realtor know how much you can offer on a desired home but also the home owners will know that you are financially able to purchase their home when an offer is made.
After you have been pre-qualified, you should find a realtor. Most cities have several different realty companies to choose from. When looking for a realtor, you want one who will listen to you and try to meet the needs that you have. They will conduct themselves professionally and have experience using the tools available to them to know what kind of new homes are on the market. Make sure that they have real estate licenses in the state and city in which they practice. Many times you can get referrals from family and friends, but if you are new to an area, you can check realtor website listings and attend some open houses where you can meet realtors and observe them doing business with their clients.
After you have found the realtor and he has reviewed your pre-approval letter, you can begin the process of touring the new homes that are available for purchase. The realtor should be able to work from a list of homes, make appointments with the homeowners to walk through their homes, and work within your budget. He should also have you make a list of amenities that you want in your new home, such as number of bedrooms and baths, appliances, and central air and heating system. Sometimes this process may take several weeks to months.
Once you have decided on one of the new homes, your realtor will then help you make an offer. If the homeowner decides that the offer is reasonable, they will accept your offer, but if not, they will make a counteroffer. This gives you the opportunity either to accept the new offer, make another offer, or walk away and look at other new homes. If you decide to accept the offer, the closing date will be set, after which the new home will be yours.