We’re pretty sure that buying your first home will be a major milestone in your lifetime and with that being said, we want to help you experience the easiest (and most efficient!) way to buy a home in St. George, Utah!
For many first time buyers like you, the vision of owning a house in St George Utah is likely to elicit some emotions (a healthy combination of excitement, anxiety, nervousness and more excitement!).
In this post, we feature the easiest, must follow ways to buy houses for sale in St. George Utah. Let’s dive right into those easy tips and tricks for buying your dream home!
1. Involve a real estate agent
An experienced and trusted real estate agent can be an awesome mentor when looking for the best homes for sale in St. George Utah.
The real estate agents will notify you of the properties that are coming up in different neighborhoods.
So long as the real estate agent you choose to work with is really plugged into the different neighborhoods, you get a chance to know about different upcoming projects even before the houses are listed for sale.
The better the relationship you have with the preferred real estate agent, the more chances of finding out about awesome upcoming projects.
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2. Get a home loan pre approval
To increase your chances of finding a suitable property within the St. George Utah real estate market, be sure to get a loan pre approval letter first.
The home sellers consider buyers that have loan pre approval letters as more serious potential buyers. This means the banks have already vetted the homebuyer and can ensure he or she can afford the loan repayment.
With a mortgage pre approval letter, the home seller is sure that if they agree to your bid price, the money will soon be in his or her account.
This is considered a smart way to shop for houses for sale in St. George Utah. Remember that loan pre approval is not the same as loan approval.
3. Determine the features you are looking for in your new house
Before you start house hunting, make sure to make a list of things you’ve got to have and things you can live without! Do not start shopping for a property blindly. If so, you are likely to fall for different properties, some of which you cannot afford.
Instead, having a list of “must haves” guides the real estate agent in finding an ideal property within the St. George Real Estate.
4. Determine your budget
A mistake that homebuyers are likely to fall into is referring to amount preapproved by the bank as the guideline when purchasing a property.
The possible result is that you end up trapped in debts that you are struggling to repay.
Instead, consider setting up the maximum limit based on the monthly repayments that you can afford. The advantage is that you will only purchase a property that you need.
5. Make sure you are purchasing a property that you can resell easily
A property that is located in an area with high demand is likely to sell faster! Therefore, when looking for St. George homes for sale, be sure to look where there will be demand in future. This guarantees you a growing home equity.
6. Be available throughout the home buying process
Avoid the temptation of allowing the real estate agent to make all the decisions. Your availability is crucial as decision-making will also be faster.
Consider that a real estate agent might not have an eye for some other exciting features.
7. Involve a friend or a colleague
The advantage is that a friend or colleague adds a third eye to your home search process. Therefore, you can end up seeing a weakness that you would not have noticed were you to make the decision solo.
You can come with the friend twice or thrice on site, and discuss the different features in a property you already like. This way you can make a carefully though decision.
8. Shop for different Mortgage lenders
If you are taking a mortgage to purchase St George homes for sale, it is wise that you shop for a home mortgage loan from different lenders.
The interest rates will differ, affecting the overall cost of home ownership. Do not be blindfolded by a low interest rate. Inquire about the total cost of that loan before you have filled the application forms.
Comparing three to five mortgage lenders; you can comfortably opt to apply for a cheaper mortgage.
9. Search different neighborhoods
The St George real estate market offers different house designs located in a number of neighborhoods. There is a suitable property for everyone, no matter his or her requirements.
Therefore, you will want to traverse different neighborhoods in search for the ideal property. Do not forget to refer to your list of “must haves” while searching for an ideal property.
10. Do not forget to involve a professional property inspector
Once you have identified a property that suits your requirements, apply for property inspection. Involve a professionally certified property inspector. In case the property inspector raises a green flag, you can start preparing the offer papers. In case it is a red flag, the property does not meet the minimal requirements, and so it is time to back off.
11. Close on the property
You have done it! Now, you can seek loan approval and prepare to end the house hunting process.
After a long wait involving a lot of back and forth, you will soon be a homeowner within the St George Utah Real Estate. Remember that most likely you will incur charges on:
- Closing costs
- Prorated property tax
- Homeowners association fees
Make sure these are ready and process them upon closing on that house.
The tactics features here in will help you close on a property much more easily. Consider involving a professional real estate agent in all steps.
Buying a New Home in St. George Utah for the First Time?
Check out our Essential First Time Homebuyer Guide! If this is your first time buying a new home in St. George, Utah, you won’t want to miss out on this FREE guide that was created by our team of expert realtors and builders. We made this just for you!