Buying a home is a huge achievement, but it is also quite a stressful process. Finding a home, getting financing, and closing the deal can take up lots of time, effort, and money. In fact, many say that purchasing a home is not just the biggest transaction you will make, but also the toughest.
It requires liaising with multiple professionals, relying on them to do their job properly, and hoping everyone sticks to what they are supposed to do. One small slip-up or missed deadline can result in thousands being lost and the whole process going back to square one.
Of course, that doesn’t mean you should never buy a house because of the time, money, and stress- quite the opposite! Instead, it means, you should look for ways to solve some of the obstacles that can arise.
So how can you make the whole process more efficient? There are several steps you can take to lessen the load and help things go a bit quicker.
Do Your Research
Before you start looking for the perfect house, you need to make sure you know the area back to front. Pin down a couple of preferred locations and do all the research you can. Also, look up related statistics in the area, and check the planning department.
You want to make sure you’re aware of any big developments planned for the area that could impact the value of your home or your quality of life. It’s also essential to understand what the local amenities are like; facilities, doctors, hospitals, shops, and places for socializing.
Don’t wait for an estate agent to disclose this information to you. It’s on you to do all the background research you can before you visit a property. Doing so may also help you identify other areas that may be lower-priced and more suitable!
Check out What Deals Are on Offer
Like when searching for a house, getting a mortgage used to require meeting brokers in person. It was never guaranteed you would get the best deal and the whole ordeal could be time-consuming and stressful.
Now, thanks to mortgage broker sites like Trussle, you simply type in the value of your deposit, the term of the loan, and a few other details. The site then provides you with a comparison between various lenders, including fees, rates, and terms. This enables buyers to evaluate multiple offers in a couple of seconds, as opposed to days or weeks at a time.
When buyers find an offer that suits them, they can then just apply online, cutting out the middleman once again and saving more time. Another benefit to online methods is that, as there are less fees involved, these savings can go back to the borrower.
Start Your Search Online
When searching for a home with real estate agents, you’re at the mercy of their preference and network. They may also try to upsell you or unload difficult-to-sell properties your way. But, thanks to the internet, property search websites are making the search process much easier. You simply type in your budget, specifications, and desired location, and it presents you with all the properties that fit your requirements.
There is no need to sift through listings that are out of your budget or not what you want. This cuts significant time from the process and empowers buyers to make more intelligent and more efficient decisions. It also allows you to get a better picture of what’s on offer in the area, not just what agents want to show you. It means you can compare and seek out better bargains in a much more flexible, convenient way.
The online searching experience is significantly quicker and more transparent than going through an agent from day one. If you find the properties you’re interested in, then you can contact the relevant agent to help you progress further.
Despite many of these online processes, there is still a need for real estate agents during the contract negotiation and closing process. But it’s essential you are working with one that is acting in your interests and responds to your needs. If you feel that this is not happening, you can always reach out to another or one working for the same company. This applies to everyone involved in the process, especially those that you are paying to help!
But it’s likely that over the coming years, we will see even more digital solutions being introduced that will help simplify home buying and selling.
Technologies such as blockchain, virtual reality, artificial intelligence, and augmented reality, will all be introduced into the sector. Remember, buying a home is one of the most significant financial transactions you will make, so do all you can to help it go as smoothly as possible.