Your Agent’s Surefire Homebuying Steps

Housing market conditions change rapidly, with fluctuating interest rates, price and availability of homes. Your Berkshire Hathaway HomeServices network professional can help you with the following suggestions:

Step 1: Be financially prepared
Prequalification for a mortgage loan tells you what kind of loan is best, the interest rate you’ll pay, how much you can spend on the purchase price of a home, and whether you’ll pay private mortgage insurance.

Step 2: Be flexible
You may have to make compromises to your wish list, like moving further out to get the amenities you want, buying a fixer-upper instead of a new home, or getting a condo instead of a house. Be open to alternatives.

Step 3: Plan for the long-term
Building equity takes time, so plan to stay in your home long enough to “repay” your closing costs. Closing costs for homebuyers account for 2 to 6% of the purchase price so it could take five to seven years to sell at a profit or break even.