FAQ
How do I start the home-buying process?
Check your finances and get pre-approved for a mortgage to know your budget. Then, hire a real estate agent to help with property searches and paperwork.
What are the hidden costs of buying a home?
Expect closing costs, property taxes, insurance, maintenance, HOA fees, and moving expenses. Home inspections may also add to the cost.
Is it better to rent or buy a home?
Renting offers flexibility with lower upfront costs, while buying builds equity and provides long-term financial stability. The best choice depends on your goals.
How long does the home-buying process take?
It usually takes 30-60 days after an offer is accepted, but delays in financing, inspections, or paperwork can extend the timeline.
How do I know if a property is a good investment?
Look for properties in high-demand areas with growth potential. Check market trends, rental demand, and resale value before buying.
What factors should I consider when choosing a property?
Look at the location, neighborhood, size, resale value, and proximity to schools and amenities. Also, assess the home’s condition and any renovation costs.
How does mortgage pre-approval work?
A lender reviews your credit, income, and debts to determine how much you can borrow. It helps you set a budget and strengthens your offer.
What should I look for during a property inspection?
Check the structure, roof, plumbing, electrical systems, and signs of damage like mold or leaks. Major issues may need repairs or price negotiations.
What documents do I need to buy a house?
You’ll need ID, proof of income, bank statements, credit history, and mortgage pre-approval. Some lenders may ask for additional documents.
What should I expect at closing?
You’ll sign final paperwork, pay closing costs, and receive the keys to your new home once everything is completed.