Homeward Bound: The 5 Essential Steps for Buying a House
By Diana Russell
Photography by Peter Schreiber
Assess Your Readiness
Before diving into the Phoenix market, determine your financial standing. Calculate your budget, including a comfortable down payment & closing cost estimates.
Get pre-approved for a mortgage to understand your borrowing power and to demonstrate your seriousness to sellers.
Research the Phoenix Market
Deep dive into the neighborhoods you are hoping to buy your home in! Research the areas that align with your lifestyle, budget, and future plans. Consider factors such as commute times, school districts, local amenities, and the potential for future growth. Utilize resources that are specific to the local market in order to understand local trends, average prices, and potentially hidden costs.
Connect with a Phoenix Realtor
Finding a qualified & experienced Phoenix real estate agent is crucial. Seek an agent that has a solid understanding of the local market and your individual needs. They can guide you through the search process, negotiate your offers in a strategic manner, and navigate the complexities of Phoenix real estate.
Search and Make an Offer
Work with your realtor to identify homes that fit your criteria. Be prepared to act quickly in a competitive market. Once you find the right property, your realtor will help you craft a competitive offer considering current market conditions and recent sales data.
Negotiate and Navigate Closing
Be prepared to receive any counter-offers from a seller. Your realtor will advise you on the negotiation strategies to help you reach a mutually beneficial agreement. Once the offer is accepted, navigate the closing process, which does involve inspections, appraisals, final loan approval, and the signing legal documents to finalize the purchase.
