If you are feeling stressed out about buying a new home, well, you’re not alone. In fact, when 2000 US homeowners were asked what the most stressful experience of life is, an incredible 2 in 5 (40%) said purchasing a home. Here are seven strategies that can help you stay calm and collected as you go through this important and exciting life process.
Strategy #1. Find a great realtor.
Make sure you choose an outstanding real estate agent. We know some excellent realtors locally and would be happy to provide recommendations.
Strategy #2. Understand your goals.
Have a clear picture of what your needs are in a house and neighborhood (age of the home, nearby amenities, distance from work, etc.). When you communicate these parameters to the real estate agent, they can point you to the most relevant options.
Strategy #3. Use your agent.
Have your agent go through the home-buying process step by step with you. Core actions they will mention include the mortgage pre-approval, paperwork submission, and appraisal.
Strategy #4. Be ready to adapt.
Everyone wants a house that is the absolute perfect fit for them. While you want to be strict about certain needs you have, practicing flexibility is essential. Know what the highest priorities are for you in a home, and be ready to adjust as needed on low-priority items.
Strategy #5. Manage your stress.
Use tactics to reduce your stress if you feel overwhelmed after making a bid. Talk through your worries with a friend or with your agent. Take some extra time to kick back and relax with some pleasure-reading or time outdoors.
Strategy #6. Look over your agent’s purchase agreement.
The terms of purchase will be spelled out in your realtor’s purchase agreement. Get a copy of this document and ask any questions you have prior to beginning your home search. That way you will not feel that you are hurrying through it when you prepare to make an offer.
Strategy #7. Get mortgage pre-approval.
While getting a mortgage often proceeds smoothly, that is not always the case. A lender may find something problematic when they review your income and credit history. By getting pre-approved prior to submitting bids (and that means pre-approved rather than just pre-qualified), you will know financing is in place.
Get your best rate
If you want to reduce home-buying stress, mortgage pre-approval can deliver – especially if you work with a caring mortgage loan officer. At Best Advantage Mortgage (BAM), the most important part of your mortgage is YOU. Get pre-approved now.