Steps To Buying A Home - Part 1

Buying a home is such an exciting experience. It's a chance to start fresh, a chance to create a whole new life for yourself in a brand new environment.

Buying a home at the Lake of the Ozarks can seem a little overwhelming, especially if it's your first time, but it doesn't have to be hard. Welcome to the first installment in our two-part blog series: Steps To Buying A Home. Following these simple steps will ensure that your home buying process is simple and (most importantly) enjoyable.


Step 1: Start Your Research
Being well-educated on any topic makes it much easier to manage, and buying a home is no different. Before you are ready to begin seriously searching for homes, take some time to start looking at the homes currently for sale. This way, you can get a feel for their asking prices and watch to see if any of the homes drop in price, which will give you insight the current housing market. It's also important to start thinking about the types of features you want in a home - chances are that it will take you and your family a while to agree on all your desired elements!

Step 2: Get Prequalified or Preapproved
A huge aspect of buying real estate at the Lake of the Ozarks is knowing how much home you can afford. During the prequalification process, a lender will do a quick evaluation of your financial standing and let you know what amount of loan he/she believes you will qualify for. During the preapproval process, your lender will conduct a thorough investigation of your financial situation and provide a written agreement stating that you have been preapproved for a specific mortgage loan (the full approval will happen just before closing). 

Beginning this process now will give you a realistic idea of what homes you can consider buying and how much money you will need to provide for your monthly mortgage payment.

Step 3: Hire A Real Estate Agent
Your real estate agent will be your go-to for everything you need during your home search. He will help find homes he believes you will like, he will arrange times for you to tour potential homes, and he will coordinate with the seller's real estate agent to submit offers, counter-offers, and other agreements. Having a real estate agent on your side is guaranteed to making the process of buying a home much easier.

Step 4: Tour Homes
Now for the fun part - it's time to start touring homes! As you walk through each potential house, try to envision yourself waking up there every day and coming home to that house every night. Does it feel 'right' to you? Be sure to take detailed notes after every property you visit... They will all run together after a while!

Check back next week to see the remaining steps!
Following these steps should get you started on the right track. We'll identify the rest of the steps in the second installment of this blog series next week. In the meantime, remember that if you find yourself in need of title insurance help at the Lake of the Ozarks, our doors are always open!

The Lake of the Ozarks' Most Trusted Title Company

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