Are you ready to become a homeowner in 2022? Homeownership is a cornerstone of financial stability. Not only will your home grow in value over time, but you’ll also enjoy income tax breaks as a homeowner. And you still have a chance to lock in a low interest rate, which saves you money every month.
We’re happy to show you exactly how to make your dream of homeownership a reality in 2022. And you can do it in five simple steps.
1. Get Pre-Approved for a Home Loan
Financing is everything. Getting pre-approved for a loan confirms how much money you’ll be able to borrow, which helps you search in the appropriate price range. Then, when you’re ready to make an offer on your dream home, having a pre-approval letter shows the seller that you’re a serious buyer who will, in all likelihood, qualify for the loan needed to close the deal. This makes sellers more likely to accept your offer.
You can compare lenders online. And when you’re ready to get pre-approved, most lenders offer convenient online pre-approval.
2. Find a Buyer’s Agent
All real estate agent fees are typically covered by the seller, so it doesn’t cost you anything to hire a buyer’s agent to professionally represent you in your purchase. And you will benefit greatly from getting a real estate agent on your team as early in the process as possible.
Well-connected real estate agents often learn of upcoming listings before they hit the market. So your agent could be your ticket to getting an early heads-up on a new listing, giving you a competitive edge over other buyers.
Sequoia real estate agents have the market knowledge, negotiation skills, and industry expertise to help you navigate the buying process successfully.
3. Enjoy the Home Search
Shopping for the right home should be fun! Enjoy browsing home listings online and touring the properties that pique your interest.
Just don’t be surprised if you find your dream home sooner than expected. Some buyers are afraid to make an offer until they’ve seen lots of properties, and they often regret missing out on one of the first homes they saw. So be ready to make an offer when you find the right home.
4. Get an Offer Accepted
The 2022 real estate market might not hit the same level of frenzy that we saw in 2021, but that doesn’t mean it isn’t competitive. We still have high buyer demand and comparatively low seller supply. So you will need to make an appealing offer if you want to beat out other buyers.
Don’t mess around with low-ball offers. Bring your best offer if you really want the home.
5. Sail through Escrow
The 30-60 day period between getting your offer accepted and taking ownership of the house is called escrow. This time is needed for administrative tasks like confirming clear title to the property, completing inspections, and securing financing. Having an experienced real estate agent in your corner is critical to navigating the escrow process smoothly. Your agent can help keep the transaction on track and help you address any potential issues that come up during the escrow process.
If you’re interested in becoming a homeowner in 2022, contact Sequoia Real Estate today. Our friendly agents will walk you through the process, patiently explaining each step, and representing your best interest for a successful purchase.