St. Louis Home Buying

Are you looking to buy a home in the St. Louis Area? Maybe you’re moving to a different neighborhood or perhaps you’re about to buy your first home. Whatever the case may be, the market is on the rise and it is a great time to be buying a new home. In an article by Zillow, St. Louis was even ranked as the 7th best market for home buyers in 2016. 

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Things to Expect

Buying a home can be a major and exciting part of one’s life. It is important that home buyers, first time home buyers especially, know what is to be expected and what to look for.

What to Expect
  • Paperwork, loans, contracts, etc.
  • Open Houses
  • Credit Report
  • Home Inspections
  • Appraisals
  • Closing
Keep In Mind
  • Quality of Neighborhood
  • Location/What’s Nearby
  • Amenities
  • Hiring a Real Estate Agent
  • Market Trends for The Area
  • Value of Home

Steps to Take

  1. Preapproval/Prequalify – Based on your credit you will be able to get prequalified and preapproved for a certain amount towards your mortgage. This is how much money the bank is willing to loan you and will set your max budget.
  1. Research – Determine how much house you can afford and what current market trends are, establish what neighborhood you want to be looking in, how many bedrooms you want, how many baths, etc.
  1. Find the Right Real Estate Agent – It’s important to find a real estate agent that’s best suited to your needs. The agent you hire should be readily available to help you through the process, provide you with the information and skills that you need, and ultimately help you find and get the best price for the home that you want to buy.
  1. Find Your Home – Now with the help of your real estate agent, begin looking for your home. Start with the neighborhoods that you’ve researched and found you would like to live in and then branch out from there. After finding a home you like make sure to get it inspected to make sure there is no underlying or major issues with the home. Also, be sure to get the house appraised as this will let you know you’re paying a fair price.
  1. Select Your Loan – Now you need to work with your bank to select your loan. Since you’ve already been preapproved and prequalified, you will be sorting out how much you will be paying towards your mortgage on a monthly basis.
  1. Close – After you’ve gone through the entire process from doing research to getting your potential home inspected, all that is left to do is close. This is where you will be required to sign all of the paperwork to finalize the purchase. Closing usually takes a few days as it takes time for the bank to process the paperwork and for your loan to be funded.

Ready to start looking for your home today? Click the link below to begin taking next steps with one of our agents.

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