3 Things to Know Before You Make an Offer on a House

Dated: October 26 2018

Views: 131

Buying a home is a goal most people share - it's a great investment, a chance to build equity, and it offers a certain amount of stability that you don't get as a renter. However, you have to find the right house first.

Set a Realistic Budget

Buying a home is a very long-term commitment. So before you start scrolling through listings or popping into open houses, you need to determine how much house you can realistically afford. Think about expenses that could come up in the next five to seven years and account for them in your housing budget. Your pets may need surgeries, your air conditioning unit may break down, and any number of other expenses may pop up. Set yourself up for success by setting a realistic housing budget for yourself - one that doesn't exceed 28% of your gross income.

Get Your Money in Order

It takes years of work to get your credit and finances ready to buy a house. The buying process itself can go by in a flash. Be sure to have your money in order before you put in an offer. This will help prevent last-minute disappointments caused by insufficient funds. Some things you may need to fund include inspections, earnest money, closing costs, and of course your down payment.

Don't Skip Inspections

A common misconception people have is that putting in an offer means you're going to buy the house. In reality, submitting an offer is usually just the first step toward deciding if you'll buy. Before buying, you'll still need to go through a lengthy inspections period to check for unseen problems. Although it can be tempting to speed up your sale by skipping inspections, it's important to play it safe. Your inspectors will check for mold and pests, inspect the condition of the foundation and crawl spaces they'll even tell you if the slope of the yard could cause problems with flooding and erosion.

Get the home process started today! click here

Homes for Sale in Lafayette

Abbeville
Breaux Bridge
Carencro
Church Point
Crowley
Duson
Maurice
Youngsville

==============================

Buying? ➡️ bit.ly/3bsanGy

FREE Home Evaluation ➡️ bit.ly/3eEQWvQ

==============================

Ted M. Daigle eXp Realty

Ph. 337-243-6108

ted.daigle@exprealty.com

1720 Kaliste Saloom Rd Suite B-2

Lafayette, Louisiana 70508

Ted M. Daigle | Realtor

995694847

www.337homesearch.com

==============================

 

www.listingwithted.com

Blog author image

Ted Daigle

About Ted Daigle – Realtor Growing up in Church Point, LA instilled values of hard work and dedication, which has carried over into every aspect of his life, including real estate. This Lafayette r....

Latest Blog Posts

To Renovate or Not To Renovate Your Lafayette Home Before You Sell

To Renovate or Not To Renovate Your Lafayette Home Before You SellWhen thinking about selling your home in the Lafayette LA area, homeowners often feel they need to get their house ready with some

Read More

Why Loan Pre-Approval Is Key in 2021

Today's housing market is highly competitive for homebuyers, so it's critical to gain every advantage in the processthat you can.Let's connect to make sure pre-approval is one of the first steps you

Read More

4 Ways to Be Ready for a Bidding War In Lafayette LA

4 Ways to Be Ready for a Bidding War In Lafayette LAIn today's competitive Lafayette Real Estate market, the average home for sale receives multiple offers. Let's connect to make sure you're fully

Read More

Don’t Sell on Your Own Just Because It’s a Sellers’ Market in Lafayette

Don’t Sell on Your Own Just Because It’s a Sellers’ MarketIn a sellers’ market in Lafayette, some homeowners might be tempted to try to sell their house on

Read More