What to Expect When Searching for a New Home

Looking for a new house is an exciting time! It is also a complex process so that is why it is always helpful to hire a great real estate team you trust to navigate you through this time. Before choosing the right real estate firm or individual you first need to know what to expect when searching for a new house. Knowing what to expect helps ease the mind of those on a new home hunt as the unknown is always daunting. At Phillips Ranson Real Estate Team, we want our clients to feel comfortable with us and the process every step of the way! That is why we put together this blog on what to expect when searching for a new house. Still have questions or ready to get started on this amazing adventure leading to a new home? Give us a call at 336-354-5052 and we are happy to assist you!

The Ins and Outs on What to Expect When Searching for a New House

There are many variables to consider when searching for a new house, but they break down to three major categories. Those are:

1. Consult with Mortgage Lenders
2. Choose a Preferred Location
3. Determine Home Preferences

Pick a Mortgage Lender

Prior to looking at homes on-site, it is paramount that a price range is set and a mortgage lender is the one with that skill. A good lender is key to making your offer look best to a listing agent. An informative lender letter and a lender that knows you and the business can make your offer stand out from the crowd if we are in a multiple offers situation. We recommend talking to local lenders. We know who closes loans and who delays closings, so we have lenders to recommend. We prefer that the lender pre-approves you from the beginning so that there are no surprises between the start of the home-search and the end of the due diligence period. A lender not only helps you determine how much you can afford to spend, they will also be your credit counselor. Lenders have a good understanding of monthly budgets and also how HOA dues impact that budget.

Location

Before making any decisions on your new home, you first need to decide what area of Winston-Salem or it’s surrounding communities you want to live in. Each provides different schools, parks, shopping, etc. so you’ll want to closely investigate every area, especially if you are not familiar with the Winston-Salem area.

A few factors or questions to consider when researching locations:

• If you have or want kids, investigate the schools and their grades & reviews.
• For those that have health concerns or issues, research nearby hospitals and medical offices.
• Does the area you are looking at have lower crime rates?
• What are some of the nearby entertainment and dining options?

An experienced realtor can also provide advice on all the above items and point you in the right direction on your research.

Be on the lookout for our next blog that dives into the different neighborhoods of Winston-Salem!

Home Preferences

Next, it is important to consider your top home preferences when searching for a new house. What do we mean by this? Below are some of those preferences to determine you want in your new home.

• Number of bedrooms
• Square footage
• Number of bathrooms
• Garage
• Foundation type
• Backyard size

These are merely a few home preferences you need to consider before beginning your search. Knowing what you want in advance will greatly help you narrow down your search choices and speed up your search. Keep in mind, when buying an already built home it’s unlikely you will check every box on your list. Therefore, highlight or mark the items that are most important to you and your family and focus on those most in your search.

Know the Current Real Estate Market

Knowing the current real estate market is an extremely important aspect of the home search. As we begin 2022, homes are moving very fast off the market. Consequently, that is why it is crucial you have all your ‘ducks in a row’. Those ‘ducks’ include knowing the items above in advance, determining with your bank how much loan you are eligible for, and being ready and available to look quickly at homes you are interested in purchasing. This is another time when a real estate agent is very helpful. They can help you sift through setting up viewings and initiate offers quickly so a house you love doesn’t slip through your fingers!

Ready to Find Your Dream Home?

Our real estate team at Phillips Ranson Real Estate Team is experienced in helping home buyers throughout the entire process to ensure they get the home of their dreams! We know how to handle every aspect of home buying from searching for a new house to closing on that new home. Let us assist you in searching for your new house! ChD