Come up with a list of features you want and features you need. Figure out what is a non-negotiable to you. When trying to find your dream home, it helps to know exactly what you want. Ideally, your search should be broad enough so you have plenty of options, but also narrow enough so you aren’t overwhelmed with homes that won’t work for you.
Next, you can use online calculators to help you determine how much home you can afford and what your mortgage payments might look like.
NerdWallet’s Mortgage Calculator - See a monthly payment overview
Readynest’s Buy Now vs. Wait Calculator - Figure out if you should buy now or consider waiting
Do you know where all of your money is going right now? You probably (or should) know your financial situation better than anyone but it can be difficult to keep track of every day-to-day expense. Consider using a worksheet like the one below to start figuring out where to save and where to spend.
Speaking to a lender should be one of the first steps once you’re ready to go see homes and make offers. Having a pre-approval letter from a reputable lender will make your offer much more attractive to sellers and give you an edge in negotiations. Your lender will also be able to nail down your financial situation and let you know exactly what you can afford.
While it’s tempting to look at homes way outside your budget, it can also be a buzzkill. Try to keep your search within your budget.
Remember - there are lots of costs when buying a home from title and escrow fees, closing costs, and inspections. Make sure to take those into account along with utilities and homeowner’s insurance costs when planning to buy.
Once you’re ready to begin, Myriad can set you up on the Multiple Listing Service (MLS) with a personalized home search. You’ll be notified immediately when a property hits the market that matches your needs. At Myriad, our buyer specialist is highly skilled and knowledgable about the Phoenix Metropolitan area.
There are endless resources for home buyers online to educate on the process of buying. A great agent and a great lender that know your situation intimately will help tailor the process to you and make it as stress free as possible. We know the ins-and-outs of the Phoenix real estate market.
Having the Myriad team on your side means you’ll always have a line to a licensed agent working for you. We’ll keep you informed every step of the way and help you find your dream home.