The Buyer's Guide to Real Estate

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Don't Listen To The Shows: The Real Home Buying Process

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There are so many TV shows about buying property that you may think you can use them as a guide. However, things actually work much different than they do on the shows. You can learn about the buying process below, so you don't make mistakes by following the television shows.

Don't go straight to touring houses

On TV, you'll see the buyers going on tours of many houses. However, you won't want to jump right into touring houses. For one thing, you won't even know what price of house you can even purchase until you have been preapproved. Therefore, your first step should be to get yourself a real estate agent and have them point you in the right direction of a lender they suggest. Go in to see the lender for preapproval. This way, you know you are loan worthy and you'll know the price range you will be looking to stay in.

Be prepared for the buying process to take time

The shows wrap up home searching and buying into a half an hour or hour-long segment, making it look like you can go out and buy a house in a day. However, you want to be prepared for it to take much longer. It can take a long time for you to find the perfect house. If you have the time, you should allow yourself all the time you need to find the house that is just right for your family and your budget. Once you find the right house, you will go through inspections and escrow. During escrow, things can come up that push out the closing date even further. Buying a house in a rush is not advisable.

Understand you may need to make changes to your new home

On TV, people appear to close escrow and in the next scene be enjoying a family dinner around the table with the house fully furnished and just perfect in the background. Understand that when you move in your new place, there may be some things that need addressing before you have that perfect home. You may find that there is a drawer that sticks, a ceiling fan that wobbles and makes a lot of noise, a sink that seems to clog every time you turn around and other problems. Be expecting these little things to come up so you aren't upset when you get in the house and find you have little things to tend to.