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a couple standing in front of a for sale sign with the SOLD stamp on it waving the keys in her hand

01 August . 2017

How to Shop for a New Home

Whether you’re looking for more space, a bigger kitchen or just ready for a new place to call home, purchasing a new home is simpler than you may think. As a potential home buyer, avoid confusion and stress by following our guide to buying a new home. If you need a quick refresher on home terms before you begin, head on over to our new home build glossary blog.

Determine Affordability
As you start the home buying process, it’s important to take a good, hard look at your finances and determine how much house you can comfortably afford. Review your monthly household expenses, income and the applying credit scores. As you take everything into consideration, you’ll be able to form an idea of how much you can spend. As a good rule of thumb, experts say your future home’s monthly mortgage payment should not exceed more than 30% of your household’s income.

Research Lending Options
Now that you have a ballpark budget, research and review a lending option to supplement your home expense beyond the down payment. A great place to begin is your local banking institutions. Banks and credit unions often offer lower interest rates for long-time customers. Check out this article for tips and tricks to find the right lender for you.

Create a Must-Haves and Nice-to-Haves List
As you prepare to view homes, develop your ideal home with a list of must-have features and a list of amenities that would be nice to have, but not deal breakers. Do you prefer one-story or two? How about a pool? Do you want room for your family to grow? All of these determinants will help focus your search. With eight home builders, each with numerous floor plans, styles and other options, Estrella offers future homeowners plenty of opportunities to find their perfect home.

Utilize Expert Advice
Navigate the intricacies of the home buying process with a valued partner by your side. The right real estate agent will help provide helpful information on communities, assist with paperwork, negotiations and more. Go with an agent who understands your wants and needs, and most importantly, is someone you can trust and feel comfortable working with. Visit popular real estate websites like Arizona REALTORS®, Trulia and Zillow for more things to consider when finding the right real estate agent.

Shop for Homes
This is the fun part! Take your time and begin house hunting. You can browse numerous online databases and your real estate agent can help find listings that may interest you. Using your budget and must-have list, you will be able to screen through homes efficiently. When the right house presents itself, you’ll know you’ve found the one and can put in the offer.

Final Steps
As you work with your real estate agent, you’ll be completing inspections, appraisals and paperwork as you close on your home. Trust us, it will be well worth it once you have the keys in your hand and you begin moving in.

While the process requires time and effort, finding the perfect place to call home makes it well worth it. If you’re interested to make Estrella home, stop by or  The Casa Lucero New Home Information Center to learn more.

tags: Home Ideas, Tips