Blogs & Special Events

October 24, 2016
  •  
  •  

Frequently Asked Home Buying Questions

LP Chatsworth Exterior

Purchasing a home can cause a lot of different emotions, especially if you are a first-time home buyer.  There are normally many questions that home buyers will have throughout the process, and the most important thing to understand is that no question is a dumb question!

 So if you aren’t sure what questions to ask to begin with, this list might help!

  1.  Should I talk with a bank before looking at homes?  Yes!  Talking to a bank before you even start looking at homes can help you understand exactly how much home you can afford.  You don’t want to waste your time looking at homes that you can’t afford, or fall in love with a home that is out of your price range.  There are also several first time home buyer programs available, so knowing exactly what is available to you is important.  Talking with a bank before looking at homes will also help you better understand and prepare you for exactly what costs are associated with buying a home.
  2. Should I buy another home before selling my current one?  There are pro’s and con’s to this, and honestly no one right answer.  The biggest pro to buying a home before selling your current one is the fact that you have a suitable property lined up.  This can help reduce stress and pressure of having a home once your current home is sold.  However, there are some con’s to buying a new home before you have sold your old one.  If you do not have the funds to purchase a new home without having to sell your current one, you’re purchase offer is going to be contingent upon sale.  If your current home does not sell in a timely manner, this can lead to you loosing out on the home you’re looking to purchase.  Another risk of selling before buying a new home is the chance that you might not have a place to live.
  3. Do I really need a Realtor when buying a home?  Having a Realtor is strongly recommended.  Realtors have access to important tools such as MLS, they have developed great relationships with builders and other agents who just might have the perfect home for you, and most importantly they know and understand the home buying process.

Being well prepared and educated can really make a difference when buying a home.  And remember, if you are unsure about something just ask!