Home Buyer’s Manual: A Step-by-Step Guide to House Hunting
Purchasing a home is one of the most significant decisions you will make in your lifetime. It can be complex and stressful. However, with the right information and guidelines, the process can be smoother.
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Step 1
Qualify
Choose a lender and complete the pre-approval process.
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Step 2
Consultation
Meet with the Muñoz Group to discuss your financial and lifestyle goals and craft a plan.
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Step 3
Search
We've got a process to help you Identify and view homes that align with your goals.
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Step 4
Offer and negotiate
We will help you make an offer and negotiate the best terms for you.
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Step 5
Due diligence
We help you vet the property and further negotiate with the seller for repairs or concessions based on the findings of your inspections.
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Step 6
Close on your new home
There's a lot going on at this time and our team expertly manages every detail every step of the way.
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Step 7
Lifetime of service
We're here as a resource even after you close on your home! Wondering how an upgrade will impact resale? Need a contractor referral? We've got you covered.
Consider your monthly budget, and how much money you have saved for a down payment. At The Muñoz Group, we’ll walk you through determining your housing budget. The most important consideration is staying true to your financial goals. If you don’t have clarity on your monthly expenses, it will be difficult to determine your true housing budget. We can connect you with a lender who will pre-qualify you for a mortgage but there is more to coming up with YOUR number than the lender’s pre-qualification. With clarity in your numbers, you can explore the market with confidence.
It depends! At the Muñoz Group, we help you make sense of the market. While you’re likely excited to jump right in, we recognize that we’re at the mercy of the market for housing inventory. If we think you can do better based on your values and your budget, we’ll let you know. We want the right house to drive the timing though we’ll always keep your timing goals in mind as we move through the process. We’ve worked with folks who found the best house the first time out and others who explored longer. With healthy housing inventory, the process typically takes about 90 days. This means that you’re looking for the right house for a few months and then once you have an accepted offer, you can expect to complete the purchase about 30-35 days later.
A good rule of thumb is to invest 1-2% of your home’s value in maintenance per year. This includes repair and replacement for various components. If your home is older, you’re likely at the upper end of this range and if your home is newer the annual maintenance budget may be lower.
There is no such thing as timing the market! The best time for you to buy is when you are ready. When you have a down payment secured, it’s a great time to meet with a real estate professional to discuss your options. Markets will move up and down but what matters most in deciding when to buy is your personal situation. Schedule a buyer consultation to figure out if now is the right time for YOU to buy a home.
Even if you’re just beginning to think about buying or selling your home, it’s the right time to start the conversation. Our initial meeting will give you lots to consider. We often have a meeting months or even years before our folks make a decision to buy or sell. At The Muñoz Group we’re here to help you make great real estate decisions
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