Buying a home can be a daunting process – especially if it’s your first time. But you can alleviate the stress by doing your homework. Knowing what you’re looking for in a home, what you can afford to pay and what all of the home buying jargon means can make the process infinitely smoother. That’s why Thompson Homes has put together this guide, which we call ‘Homebuying 101.’ We want to make the home buying process easier for you to navigate. We’ve been crafting beautiful homes for more than 60 years so we know a thing or two about making the experience easier for you and your family!”
It’s important that you know what you want in a home and how much home you can afford before you start looking. After all, you can always find a home that you’ll love, the question is, can you afford it? Before you begin it’s always best to meet with a mortgage consultant to pre-qualify yourself for a home loan. Pre-qualifying does not mean you have a loan, rather it simply tells you what you should be able to afford. Knowing this will allow you to focus on your price range and save you time. Knowing where you want to live is also important. You don’t want a place that’s too far from shopping, good schools or employment opportunities. Taking the time to look outside the community can benefit you in the long run.”
There are many things to consider as you start looking for a home and those things go beyond the number of bedrooms and bathrooms a home might have.
For instance, school districts play a big role in where families typically buy, so even if you don’t have children or aren’t planning on having children in the near future, that doesn’t mean you shouldn’t consider the school district your home is in. After all, there will come a day when you’ll want to sell your home and when you do, you want to appeal to as many potential buyers as possible.
Another thing to consider is the neighborhood. Are there amenities to enjoy like walking trails, or proximity to parks. After all, you won’t be spending all of your time inside your house. Of course it’s also important to pay attention to the layout of the homes you’re touring. Make a note of the number of bedrooms, the size of the kitchen, whether the home offers an open floor plan for you and your family as well as a list of any other things you think will affect your decision.”
Informed homebuyers are strong home buyers! Make sure you understand all the options available for your home, how long it will take for your home to be built, and what your choices are for things like landscaping and design upgrades in your home.
After you decide on a new home, you may spend time picking out everything from flooring to kitchen cabinets, bathroom fixtures to door hardware, so ask questions and learn what options are available.
Being informed extends to your mortgage options as well. Whether you know what type of mortgage you want or not, take the time to jot down your questions about the different mortgages that might be available, what you have to do to qualify, and what the process will cost before meeting with your loan consultant. Be sure the lender spends enough time with you to answer all of your questions.
When applying for a loan, it’s always best to meet face-to-face with a loan consultant. Online loan applications can speed up the process but they should never replace an in-person meeting, where you’re able to make sure all of your questions and expectations are addressed.
Let Thompson Homes assist you in getting pre-qualified so you can have a better idea of how much you can afford. We will be happy to schedule a meeting for you with a reputable loan officer or bank of your choice. From time to time banks will share financing incentives with us, so we may share with you, our customers!
Understand your financing options and be prepared for the process. Successfully completing the process requires documentation of your income, assets and employment history. You’ll need bank statements, pay stubs, etc., so be prepared to provide them at your mortgage appointment.”
Once you’ve determined the right house for you and your family and have qualified for your loan, the work doesn’t stop just yet.
As you wait for your home to be completed and delivered to you on your closing date, it’s important to prepare your family for the move. We want your homebuying experience to be an enjoyable and engaging one, so throughout construction we host several meetings to bring you in for your own inspection, and to show you some neat things we do to your home behind the walls that you may not know otherwise, that increase the homes efficiency, performance, and durability. There will be 3 of these orientation meetings that you will participate in as well as plenty of preparation for the move.
Make sure to plan ahead for moving vans, utility connections and your mail. All of these things can often get pushed to the back burner as you plan for your new home, but they’re equally important. Especially if you want your move to go smoothly!
Take a journey through some of our past customer’s homebuying experiences to learn about their building/buying process. From beginning your search to getting your keys, these helpful resource videos can serve as your personal guide and you may just discover some important and valuable questions to ask during your own new home search!