Home buying in the United States has been on the rise in recent years. Both Americans themselves and foreigners have been part of this increase. According to Statista’s Research Department, by 2020, US$6. 5 million homes were sold in the USA and this figure was projected to increase to US$7. 1 million by 2021.
The stability of the U. S. dollar, coupled with the high demand that some regions of the United States such as Florida have had, make it a good investment to buy properties here in America. Whether you are thinking about buying now or not yet in mind, here are some tips to make buying your home easier.
Analyze your financial situation
Both for the purchase of the house and for the future maintenance of it; it is necessary that you first think about how you will make those payments. One of the most popular financing methods to buy a property is the mortgage of the property. In this way, it is possible to acquire the house in a relatively short time and pay for it in installments, depending on the convenience of the buyer.
Remember not only to think about paying for the mortgage, but also to think about the expenses it entails: taxes, maintenance, improvements, etc. Some experts consider that the payment of fixed expenses should not exceed 70% of the monthly income, while the remaining 30% should be allocated to variable expenses (entertainment, other debts, savings, etc. ).
Determine your needs
Before you search for the house, it is important to consider what you need, especially places and points of interest. I mean, if you have to go to work in a specific place, think about the distance between home and work; if you have children, consider the schools around the house; if you have an outdoor hobby, consider the places that are nearby to do that activity. These are just a few examples.
Perform the search
There are many ways to search for your dream home; but the most effective is probably, through the Internet. A specialized search engine has the complete and up-to-date information of the properties for sale, as well as photos and videos that give you an idea of how the layout of each place inside the house is.
Our MLS search engine has a lot of options to filter the results according to your preferences (location, price, area, rooms, garages, among many other options to choose from).
Search Your Home
Think of your home as an investment
Whether you’re thinking about living in the new house or renting it, you should consider the benefits it will bring in the future. If you’re going to live there, the house will be an investment in you and your family; apart from the fact that its price will increase over time as the environment and the house itself improve. If you are thinking of renting it or generating some other type of income from it, it is clearer the economic investment you are making.
The important thing here is that you have a clear understanding of the purpose and thinking on that, plan life and finances.
Find a real estate advisor
You could make the deal directly with the owner of the house to buy it; but the truth is that not all the owners are willing and there are several steps needed to buy the house. For this and other reasons that complicate the process, it is a better idea to find a good real estate advisor who will guide you through the process and even make the deal for you.
With our 18 years of experience in the real estate industry, we can guide you on every step you take to buy your dream home.
The paperwork must be up to date
This applies to all situations. If you’re from the United States or foreign, the home buying process requires certain documents that prove your ability to pay, among other things. You should also have a pre-approval of the mortgage on the house. This way, you’ll have a clearer idea of how much money you can invest in the purchase and you’ll feel more confident making the business.
Know the rules
It is very important that before doing any home buying business, you know the laws and rules that you will have to comply with when purchasing and maintaining your home. It is also important that you know the language (English); so that any process is easier and you don’t need a translator.
We know that learning a language takes a lot of time. If you speak Spanish, but not English, you have nothing to worry about with us. We also speak Spanish and we can advise you on the purchase of your new home.
Get the credit pre-approval
To obtain the pre-approval of the mortgage credit, once you have chosen the financial institution, you must present the documents that you will be asked for. If you’re from the United States, you just need to show the financial movements you’ve made recently (period defined by the financial institution). If, on the other hand, you are a foreigner, the financial history you have in your home country will still work. It is expected that you will be asked for documentation related to bank transactions, property ownership and other assets.
Meet your home
You have already chosen the option (s) that you liked the most. It’s time for you to meet the house and what’s around it. Schedule a visit with the real estate advisor so you can go to the site and explore it totally. Go for a walk or take a ride in the car and know what is around it. It is a good exercise to imagine that you are already living there and if possible, go with the people who will live in the house (if it is not for rent).
In the process, don’t forget to look at the positives as well as the negatives. Check if the house has any defects or anything that negatively affects everyday living. Also consider the surroundings (appearance, noise, points of interest, etc. )
Enjoy your home
You finally chose the house of your dreams! It’s time to enjoy your new property. Decorate it as you like, don’t forget the portraits with the photo that you are so excited to see. Take advantage of every corner to create the atmosphere you want and don’t forget to go for a walk in the surroundings. You will get to know a little more of the place and also the neighbors.
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