How To Buy A Home In 3 Easy Steps!

As 2024 is quickly approaching, you may be considering selling your existing home or purchasing a new one. To succeed in today's real estate market, one must have clear vision, pure intention, and the right expert by their side to manifest that personal vision into reality.

Why Your Journey to Homeownership Matters

The economy does directly impact housing, but what's key is your personal needs and your long-term goals versus the market conditions. Making a smart decision first requires understanding what you really need.

Steps You Can Take on Your Homeownership Journey

1. Clarify Your Motivation

• Growing Needs: Whether it is a growing family or considering the idea of downsizing, maybe the current home does not serve the purpose needed in terms of room, layout, or ease of use
•  Lifestyle Changes: Would you like to be closer to work, have a home with a yard, or be near schools and amenities? Maybe you just really like the character of a certain neighborhood.
• Future Considerations – Do you expect to change jobs, have more children, care for elderly family members in the next few years? How will these things affect your housing needs?
• Investment Potential – Are you looking at building equity, moving up to a bigger house, or possibly even investing in some rental property?
• Emotional Fulfillment: Does your present residence bring you joy, or has it become the subject of frustration? Sometimes a new space can provide a fresh start and a renewed sense of well-being.

We need to know your motivation. It allows us to tailor our process in finding you a place, which fulfills your unique purpose and desirable future.

2. Envisioning Your Future Home

• Must-Haves vs. Nice-to-Haves: Establish the 'must-haves' first— whether it be the number of bedrooms, or even perhaps a yard or garage. After that, separate those from what might be merely desirable, such as granite countertops or a finished basement.
• Location Priorities: What is most important to you—the proximity to work, schools, or a certain location? Is there a sacrifice to be made in the features of the home in order to achieve the perfect neighborhood?
• New vs. Established Homes: Are you looking for the character of an older home or the convenience of a new build? Think about probable renovation costs versus move-in readiness.
• Architectural Style: What kind of home picture is in your mind? Be it a warm bungalow, a modern townhouse, or an expansive ranch, knowing your style almost certainly helps clarify your choices.
• Home Atmosphere: What do you want to feel in your new home—open and airy, or warm and inviting? Envisioning your life there will help you pinpoint the right atmosphere.

Even as inventory is rising, there can be limited choices available. By prioritizing, we can work together to secure a home that delivers on what matters most to you but stays within your budget.

3. Assess Your Financial Preparedness

• Financial Planning: In addition to the down payment, one has to consider closing costs, moving expenses, and possible changes. It might give a realistic preview for upfront costs.
• Monthly Budget Considerations: Will the new mortgage payment, combined with the property taxes and insurance, all fit easily within your budget? Without forgetting additional costs like higher utility bills or HOA dues.
• Knowing Your Credit Score: Your credit score reflects in the interest rates you are going to get. If needed, work on it before applying for a mortgage.
• Selling and Buying at the Same Time: If you are selling your current home, what is its realistic market value? Consider the potential timeline for selling and buying simultaneously.

Emotional Readiness: Are you prepared for the logistical stress that most commonly occurs when moving house? Having a contingency plan means that temporary housing will not be an added pressure on you.

A clear financial picture is one of the keys to the process. We can connect you with local mortgage professionals who will develop a pre-approval proposal, plan your down payment, and consider current property equity allowances in your current home.

Partner with the Experts for a Smooth Journey

While the process of buying or selling a home is very intricate, you need not navigate it all by yourself. Our team will walk next to you throughout the whole process, providing the insights needed alongside the support to make the most informed decisions.

The real estate market is ever in flux. Interest Rates, inventory levels, or the state of the economy can change at a moment's notice. Knowing what the latest trends are helps you to put yourself in a position for success. Our team knows the Luzerne and Lackawanna real estate markets and stays current on a daily basis to keep you informed with the most accurate information available.

There's always time on your side, whether you buy or sell. You see, entering the market in a rush entails putting yourself in trouble. A really well-prepared strategy, although it takes time to cook, will set you up for long-run success. We'll prepare a plan with your timeline because one size never fits all.

Homeownership is an investment in your future, whether it is your first home or your fifth—an investment in providing stability, increasing wealth, and creating memories. The choice of the right house in the right location can set your investment up for success.

Don't underestimate the emotional components of buying or selling a home. We get excited and anxious, quite often, simultaneously. We understand the personal side of real estate and are here to support you throughout the process.

From your initial consultation to the day you close (and beyond!), our team is dedicated to meeting your expectations. Our goal is to help you realize an easy and successful real estate journey that perfectly suits all your needs.

The Takeaway

2024 is the year you finally get to make that dream home your own. Contact the Jason Giomboni Team - Exp Realty today to begin planning your move into Luzerne County, Lackawanna County, Scranton, Wilkes-Barre, Hazleton, Mountain Top, Dallas, Kingston, and beyond!