Planning for home ownership isn’t as difficult as you may think. By following the steps below, Elk Ridge Custom Homes can guide you through a smooth and successful home purchase.
Step 1 – Get preapproved!
Make an appointment with a real estate loan officer to discuss your loan options, including how to get preapproved. (Bring your W-2s, paycheck stubs, tax returns, and other documents to the meeting.)
Preapproval cost you nothing, and it will tell you how much house you can afford. That will save you and your Realtor® time and will signal to sellers that your offer is serious enough to back it up with a preapproved loan!
Step 2 – Decide what you need in a home
Make a list before you go house hunting of the features that are the important to you. For instance, if you want to purchase a home with two floors, you and your Realtor can eliminate all single-level homes for sale. In this way, you won’t waste your time looking at homes that don’t fit your needs.
Step 3 – Choose your options
If you’re looking at homes floorplans that have yet to be built, then you’ll have the option of choosing from your choices of flooring and other materials that suit your specific tastes perfectly. Be aware that our base prices are set on our standard options (which are high quality to begin with), so changes may affect the cost. But we do encourage you to add your personality to the homes if you see something you would like to add.
Step 4 – Sign the papers
Once your offer has been accepted by the seller, it’s time to “close” the loan. The closing is a formal meeting that you attend with a closing agent and possibly your Realtor. You are responsible for three things on the day of your closing — the down payment, the closing costs, and signing documents.
Final step — move into your new home!