I want to purchase a house to actualize my dream of being a proud owner of a house in my life time.  However, there is House purchase process to be followed to guarantee a successful and perfect house purchasing deal. The process of purchasing a house can be daunting for both new home owners and those who have been buying and selling houses in the past.

However, this house purchase guide will help take house buyers through the best way to purchase a house.

  1. Save Enough Cash for Down Payment


If I want to purchase a house, it means I must have sufficient fund to pay the down payment. Regrettably, a lot of people have other commitments and debts that make it complicated for them to save the money needed to purchase house. This is why the first step in a House purchase process is to save sufficient fund to fulfill the down payment condition.

Home buyers may decide to have savings account opened in advance, or source for fund from family and friends to enable them pay the down payment.

  1. Get Pre-Qualified or Pre-Approved to Purchase House


It is important for people to know the best way to purchase a house and the amount they can pay or afford for deal before embarking on the process of purchasing a house a house. Typically this comes down to the loan amount they can get. To get pre-qualified is the simplest and fastest route to buying a house.


With this process, a mortgage firm interrogates all the intended house buyers to know their financial and debt status. At the end of the interview, they will provide an estimate of the amount each buyer can pay.


Another option available if I want to purchase a house is the Pre-approval. This is where a credit score check is conducted with the amount of down payment available taken into consideration. In addition, the lender checks to know if there is any outstanding debt and even if the person is purchasing a house for the first time.


  1. Choose a Location


Once buyers know how much they can provide to purchase house, the next thing is to decide on a location. As a result, it is essential to think about different alternatives like living in metropolitan or suburban locations. Metropolitan areas are normally in the city while suburban areas are at the outer edge of the city.

Those who have families may purchase house in suburban areas where there are more schools and bigger homes with yards. However, the urban areas are usually costlier, but have attractive infrastructures such as good roads, recreation centers, restaurants, culture, and activities as they are at the center of the city.

  1. Decide on the Type of House to Purchase


Another best way to purchase a house is to consider the type of house to buy. Things to put into consideration include whether you want to purchase a new house or a resale house. Types of houses for purchase are the duplex, condos, town houses, semi-detached, and single-family detached homes. All these factors must be considered for a successful transaction in a House purchase process.

  1. Select a Real Estate Agent


A real estate agent is not always important in a House purchase process, but can be very useful. I will choose an agent if I want to purchase a house because a reputable agent understands more about the real estate market.

This will save me my precious time and let me avoid the disappointment associated with house purchase transaction. Recommendations from people about a real estate agent will help in great deal. Read reviews and testimonials to select an agent with good reputation.

The agent should be cool headed and devoted to working in the best interests of the buyer. Such an agent should not have problem responding to relevant questions and should be able to recommend best way to purchase a house.

  1. Inspect the Available Houses


When purchasing a house, the house buyer must pay a visit to the house in question. This particular house purchase Process is necessary for a good and transparent deal. The real estate agent will find and also select houses for buyers and give them choices that best meet their conditions. The agent can also arrange a convenient period, time and date to inspect the available houses.

  1. Make the House Purchase Offer


Now that the buyer has discovered the best house, it is time to make a house purchase offer. This area of house purchase Process is where a real estate agent becomes handy. The agent will prepare a house purchase contract pleasing to the house buyer.

The contract will comprise of the price of the house, terms and conditions to be met by both the seller and the buyer. When purchasing a house, the agent will make sure the contract fulfills all the necessary legal requirements.

  1. Secure the Home Mortgage


The buyer will be required to secure the home mortgage immediately the offer is accepted. The mortgage for purchasing a house is done by completing the mortgage application.


However, the process may take longer to finish if the buyer has not been pre-approved or pre-qualified. To get the best rates and terms, a buyer should shop around. Nearly all buyers prefer fixed rates to the adjustable rates in a home mortgage contract.


  1. Get the House Inspected by House Inspector


Let a house inspector examine the house. The real estate agent can arrange for a trustworthy house inspector for this assignment. A competent and experienced inspector will check everything about the house including the foundation, walls, roof, electrical systems, plumbing, and noticeable insulation, among others.

Moreover, such an inspector will check for signs of pests, asbestos, and mold. A house inspection is generally an important aspect of the house purchase Process, particularly for a house being resold.

  1. Get Insured for Purchasing a House


Purchasing a house needs insurance to cover the property. The insurance is what will protect the house from injuries suffered as a result of theft, fire, or other likely liabilities. Getting a “Title Insurance” will protect the house buyer against liens. This should be equivalent to the full value of the house.


As I want to purchase a house, it means that I have to follow the house purchase Process guide above because it is the best way to purchase a house with ease.