Home Buyer FAQ: Three Common Questions Answered for You
Buying a home is a big thing to do and of course you want to make the right decision. It's totally okay and natural to have a lot of questions about the process, home buying, homes, etc. In no particular order, here are a few common home buying questions answered for you:
1. "Should I buy or rent a home?" - This is one of the first questions that homebuyers usually ask. If you want a possibly cheaper and less labor-intensive option, renting a home is your answer. But if you want the long-term benefits, buying a home is your answer.
2. "What is the first step of the home buying process?" - The first step of the home buying process is getting pre-approved for a mortgage. Doing this lets you know how much you can borrow, which will let you know what homes you can afford. This can greatly narrow down the home searching, which will save a lot of time and prevent disappointment when you fall in love with a home that's outside of your budget. The loan estimate also shows how much money is required for the down payment and closing costs. Lastly, being pre-approved for a mortgage demonstrates that you're a serious buyer to not only your real estate agent but also to the person who is selling their home.
3. "Do I have to use a real estate agent?" - The short answer is no, however, it is recommended that you do use one if you want to simplify the home-buying process, be more informed about the area, properties, and market, and need the help (ex: paperwork) to make the purchase.
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