Are you planning on moving to New Orleans anytime soon? If you are, well, congratulations! New Orleans is a great place to call home - friendly people, a favorable climate, a booming economy, plenty of real estate options, top-notch healthcare and education systems, and plenty of things you can do on those days off. What more do you need out of one city? Well, you need a home! The home buying process is just as complicated and stressful as the home moving process; we will not lie to you. But we will help you. Today, we will share our New Orleans home buying guide full of helpful advice with you. So, if this is something that you are interested in, keep on reading.
Know Your Budget
Before you start looking for an accessible home, know your budget! We cannot emphasize this enough. Take a pen and a piece of paper and write down how much money you are willing to spend on your New Orleans home. Look at the statistics - the home value in New Orleans has risen by 3.9%, and an average home price is currently somewhere around $236,873. Now, ask yourself whether you have that amount of money ready? If you do, fantastic. But, you will have to turn to other options like getting a loan or a mortgage if you do not. Research all of your options before you make any decision.
Moreover, while determining your budget, make sure you include the money you will need for moving and for your real estate agent, a contractor, an inspector, and of course, for the down payment and all the closing costs.
Determine your budget before you start looking for a home!
Get Pre-Approved For Mortgage
We strongly advise you to get pre-approved for a mortgage before starting your New Orleans home buying quest. This is important for two reasons. Firstly, the sooner you get pre-approved, the smoother the home buying process will be. Secondly, home sellers tend to sell their homes to buyers who are pre-approved because they know that they are financially ready. So, when you decide that you will buy a home in New Orleans, start looking for lenders. Do a background check on every lender before you sign any papers!
Once you do that, start applying for a pre-approval. For this, you will have to gather all your documentation (tax returns, bank statements, credit card statements, different loans you have, etc.). By checking these documents and your financial situation, the lender will pre-approve you for a certain amount of money.
Do Your Research
Research is vital! Whether it is for moving, finding a storage or quality unit to make the process simple, or buying a home, research is the key! But first, you have to figure out what you really want and need. Luckily, we live in the age of technology, so any research is possible, easy, and fast. Thus, after you have decided on your budget and made your list of priorities, start searching. Also, there is no need to tour every home individually. Nowadays, there are pictures, videos, and even virtual tours of homes on almost any home-selling site you find online. When you find a home you like (or two or three of them), go check them out. You may want to ask the seller when he or she is organizing an open-house event too!
Always start your research at home! Read a New Orleans home buying guide.
Find a Real Estate Agent
It is essential to keep in mind that doing online research is not enough for buying a home. Your research is something you can do to understand the market and see what is out there. But, only a licensed real estate agent will be able to guide you and find you a dream home that suits your needs and budget. That is not only because real estate agents have years and years of experience but also because they have access to information that is not open to the public.
Moreover, if you want to buy a home regret-free, you cannot merely hire just any agent out there, no. You need the so-called buyer's agent. These kinds of agents specialize in working with clients who are interested only in buying a home. They have excellent negotiating skills, they know the area you are interested in and out, and they are familiar with all the listing agents out there.
Make an Offer
If you have found a home in New Orleans you like, do not start packing your bags and calling Zippy Shell Louisiana movers just yet! First, you need to make an offer. Then, your offer must be accepted by the seller. So, when you feel that you have found your dream home and when you feel ready to close the deal, contact your real estate agent. Do not hesitate to negotiate if necessary. But, do not wait long, especially if you have found a keeper. Homes, both houses and apartments, in New Orleans, tend to sell out quickly. Thus, be fast!
If you found a house you like, make an offer and act quickly!
Close the Deal And Move in
If the seller has agreed and accepted your offer, well, congratulations are in order! Now, you, your agent, and the seller have to sign a bunch of paperwork and wait approximately 30 to 40 days as that is how long the closing process lasts. Once that is over, the last point in our New Orleans home buying guide is preparing for your move. If you are low on cash and this home buying process ended up costing more than you planned, do yourself a favor and look for some money and time-saving tips when moving home. You will be surprised by how much you can save with those.
If you would like more information, find an Assist2Sell office near you to connect with an agent or check out New Orleans homes for sale here.
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