Buying a house in Arizona is exciting and can be accomplished if you are persistent and serious about making a purchase. There are several factors that you must take into consideration when purchasing your home. The process can take some time so it is important to keep that in mind and be patient while going through the process.
Steps to Buying a Home in Arizona
The home buying process is made much easier when you know what’s involved and take the necessary steps to get you to where you want to be which is in your new home. No matter if you’re planning to buy a home soon or it is further in the future, you can take steps now to make the process go smoothly.
Save for a Downpayment
If you plan to apply for a conventional mortgage, you may need up to a twenty percent downpayment. There are loan programs available that require a downpayment of three percent or none at all. However, you’ll still need to have some cash available for closing costs. Find ways to cut expenses now and pocket the extra money. You’ll find that small savings here and there add up quickly and you’ll be better prepared when it comes time to make a downpayment or pay closing costs.
Get Pre-Approved for a Loan
One of the first things you should do when buying a house in Arizona is to contact your mortgage lender and see how much money you qualify for. This will allow you to only look at homes within your price range. Failing to take this step will almost certainly lead to disappointment when you start looking at homes that are realistically not within your price range.
Work With an Experience Real Estate Agent
The process of buying a house in Arizona will go along much more easily if you work with an experienced real estate agent. Real estate agents know market trends and often have knowledge of homes that are going up for sale to which you do not readily have access. Your agent will guide you throughout the entire process from finding the right home and finally closing on your new home.
Make an Offer
Once you find a home that fits your needs and budget, you must formulate an offer. You do not have to offer the asking price. Your real estate agent is a valuable resource and will help you formulate a competitive offer. Because your real estate agent is aware of the real estate market conditions, he or she will tell you if you must move quickly. The real estate market can be volatile and if you’re buying a house in Arizona during a time when homes sell quickly, then you’ll need to move quickly and be ready to respond to a counter offer made by the seller.
Close on Your New Home
The final step to buying a house in Arizona is closing on your new home. This is the exciting part and something you’ve likely waited a long time for. A Potempa Team Agent can walk you through the process and let you know of any necessary documents you’ll need. Once the closing is complete, you’ll get the keys to your new home and can start making it yours right away. Call Potempa Team today!