A Nine-Point Checklist to Follow Before Buying Your New Home

Buying a new home is a big decision, whether it is your first home or second vacation property. And while the process of house hunting and everything that goes with it can be a little intimidating, it does not have to be, especially when you are prepared. That is why we have prepared the following checklist below, where we will walk you through nine points you should consider before buying a new home.

This list covers what to expect during the home-buying process, things you should know before investing in a new property, and helpful tips for when you find your dream house.

Having an experienced real estate agent who knows the area and available properties can be a game-changer when finding the house of your dreams. These agents understand the process of finding and purchasing a new home, and they can also guide you through the ordeal, ensuring your best interests are in mind. Plus, they can also make sure they fight for the best terms based on your circumstances and even present you with properties that may be unlisted, which are often secured through their connections.

For these reasons, before you hit up Google search to find a home that works for you, try reaching out to a real estate professional instead. These agents can promptly get to work finding you a house with everything you need while providing you with the support you want every step.

Another thing you should do before even starting to look for a new home is to come up with a price range that you are willing to spend on a new home. Just remember, as you are coming up with this figure, do not forget that homes will also require maintenance and upkeep, plus taxes and homeowners insurance, which can increase their overall costs and fees. For these reasons, plan ahead when you are creating your budget.

By setting a price point, you ensure your finances stay in order. It will also help you narrow your search. Don’t waste your time looking at homes far below or beyond what you are willing to spend.

After you set your price point, get pre-approved to let sellers know you are serious about their houses. Some sellers are more willing to negotiate with pre-approved buyers.

Another essential thing to figure out is your needs and wants regarding a new home. For instance, do you need a short commute to work? Or is that more of a want? Likewise, do you need five bedrooms, or will four bedrooms work if the house comes with a pool?

Making a list of these wants and needs is a great way to determine what type of house you should search for. It can also help your realtor narrow down where they should look regarding potential properties and what kinds of homes they need to consider.

However, make sure to keep an open mind. Sometimes, you may be presented with a house that does not necessarily check everything you think you want but can still become an exceptional place of residence.

Although searching for homes online can be helpful, you will want to visit a potential forever home. For instance, not only will you want to have a walk-through of the properties you like, but you will also want to check out the surrounding area. Getting a feel of the neighborhood can help determine if the home is a good fit for your and your family's needs. Note whether you’ll have access to the things that are important to you, such as a bustling city center, excellent restaurants, and great schools.

You should also tour houses to verify that they are everything promised. For example, if an online listing emphasizes gorgeous views, you want to ensure that new construction will not be happening down the road that will block these views as soon as you move in. Or, if you’re buying in summer, verify that a home’s heating works as well as its air conditioning.

Even when you think you have found the house, it is never a bad idea to check out other properties in the area. You may discover that a similar home in your ideal location may have something you never knew you wanted, like a walk-out basement or a shorter drive downtown. You might switch plans and go a different route regarding which home or homes you decide to make an offer on.

Once you have looked at all the homes, done your research, and narrowed it down to the ultimate house, it is time to make the offer and sign the contract. However, before putting your name on the dotted line, you must read everything about the home, the agreement, and the disclosures. While all this paperwork may seem overwhelming and confusing, you must understand everything before you agree to anything.

That is why it is a good idea to go over the details of these contracts with your realtor and even an attorney to help you understand what type of legal agreement you are getting into. This can also ensure you do not end up with buyer remorse because you gave up more than you were willing to for the home.

While a standard inspection will ensure the home's structure and electrical system are working, it may not provide you with all the necessary checks. Go beyond a routine inspection to ensure everything works correctly, like basement pipes and pool foundations. Paying more for a complete and thorough inspection can save you from some nasty surprises down the road.

Consider using top-rated inspectors in the area, such as Metro Boston Property Inspections or Coastal Home Inspections. These professionals can give you the peace of mind that your future home is everything you hope to be before you complete your transaction.

Assuming that all your inspections pass, you will soon be ready to close on your new home. This is the time to make sure that your finances are in order and that you have the money required due at closing.

During this time, the lender may also arrange an independent third party to make their appraisal of the property. If the appraised amount is substantially less than the agreed-upon price, you can ask the seller to lower the price of the home or assume some of the costs due at closing. Moreover, if you are considering renovations, get permission from the house’s current owners to speak with contractors, who can take measurements and prepare for work.

Finally, you will also want to look into homeowners insurance since you will likely need to show proof of it at closing (if your home is financed with a mortgage).

Whether you are looking into Beacon Hill homes for sale, Back Bay Boston real estate, or Seaport Boston real estate, realtor Dylan Costello is here to help you find exactly what you need. As CEO and realtor of the Dylan Costello Team, Dylan has the experience and knowledge necessary to connect you with the best properties in Boston. And don't let his open mind and friendly approach fool you — Dylan is known for closing complex deals, handling challenging negotiations, and doing everything possible to make his clients happy.

If you are in the market for buying a new home, reach out to Dylan today for an honest conversation about finding the perfect property for you and your family.