Buying a home or business is an important step to caring for your family and providing long term financial security. Thoughtful preparation in the beginning of your home search will help you find the home of your dreams that also fits your family’s unique needs. The key is to stay organized and focused on the ultimate goal of finding your ideal home.

Define What You Want
Before walking into a single home, start by creating a prioritized list of features you truly need in your new property and the reasons why. In fact, make 2 lists. The first should include items you must have (i.e., the number of rooms and bathrooms you need). The second list is for amenities you would like to have (jacuzzi, deck, pool, den, etc.) but that aren't absolutely necessary. Honestly, you will probably need to make some compromises, but the lists will keep you on track.

Figure Out What You Can Afford
You can crunch the numbers yourself using one of these financial calculators. When you're ready to move to the next step, you should meet with a licensed, mortgage broker to find out exactly how much you can afford to pay.

Get Pre-Approved
A pre-approval will give you an accurate sense of what you can afford to spend on your new home. You will also have a realistic idea of the price range of homes you should be visiting and eventually purchasing.

By definition, a pre-approved buyer has an approved mortgage in writing — subject to an appraisal of the property. This way, assuming the property you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Many times a buyer can also use this pre-approved status as leverage during the negotiation process.

Stay Focused & Organized
Keep the lists you created in Step 1 handy at all times. This will maximize your search efforts. Here are some other hints:

1. Have detailed maps with your areas of interest highlighted.
2. Take specific notes as you search.
3. Visualize the property empty & with your personal belongings—Is the property laid out to fit your needs? Is there enough light?
4. Use photographs or video to help refresh your memory on individual properties.

Be Objective
Think with your head, not your heart, when you find a property. Does it really meet your needs? There are many properties to select from, so don't rush into a decision that you may regret later.

Also look at a potential property as if you are the seller. Would the next prospective buyer find it attractive based on the location, neighborhood, schools, crime rate, and other positive features like commute times, public transportation, shopping, and recreational facilities. You should also think about the location’s impact on the resale value of the property if you are anticipating selling in the next few years.

Be Thorough
A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:

1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional.
3. Request a second walk-through to take place within 24 hours of closing.
4. Check to see that no changes have been made that weren't agreed on (i.e., a nice fixture or appliance that you assumed came with the sale having been replaced or removed completely).

Buying property may seem like a daunting task. That's why having a professional real estate agent represent can greatly reduce the amount of pressure you feel during this stressful time. Please email me or call me directly at 773-392-4252 or 847-337-4252 to discuss any of these matters in further detail.