The Complete Home Buyer's Guide
The Buyer's Guide process is a comprehensive and structured approach to help consumers make informed purchasing decisions. It is designed to simplify the complex task of buying a product or service by breaking it down into three key categories: Foundation, Framing, and Front Door. Each category addresses specific aspects of the buying process, ensuring that consumers consider all relevant factors before making a decision.
A. FOUNDATION - Just like any other structure, foundation is very important. It holds everything up
- Credit - A Good Credit Score is essential when applying for a mortgage. Every mortgage has minimum credit requirements to qualify.
- Assets - This covers your down payment and closing costs.
- Mortgage - we need to choose the best mortgage for you depending on your income and the requirements.
B. FRAMING - Once done with building a solid foundation, let us now start building the structure around it which is the framing.
- Criteria - List what you want and what you will consider.
- Location - Make sure that location will be accessible for you and your family’s work, school and other necessities.
- Price - once you have a pre-approved price from your lender, you can now search for the property that is within your budget, preferred location and fits within the criteria you set.
C. FRONT DOOR - This is where we say "Congratulations on the Purchase of your New Home!", where everything is being finalized, ensuring that all expectations have been met, documents are all signed, and finally confirming new ownership of the house!
- Inspection - The inspection will tell you if the house is really what it is as presented by the seller and will protect you from any hidden structural defects.
- Appraisal - This will ensure that you are paying for the right price and not overpaying.
- Insurance - Insurance is one of those things that we love when we need it, but hate it when we don’t. No matter how you feel about insurance, one thing is for sure, if you’re going to buy a home with a mortgage they will require insurance.