Halloween is a time for ghosts, goblins, and other frightening creatures. Of course, there are plenty of folks who are more anxious about buying a house than entering a haunted house. 

Would you believe that one in three buyers cried at some point during a recent first-time home buyer study? Or that nearly half of these participants described their journey as “the most stressful event in modern life?” The reality is that most home buyers are just as nervous about going through this experience as you are.

Here are several tips for making the home buying process less scary.

Get your finances in order

Nothing is worse than having your mind set on a home only to realize that you can’t afford the property. It happens way more often than you might think, and it can cause heartbreak in a hurry. Avoid this emotional roller coaster altogether and talk to a lender about what’s needed for pre-approval.

Remember that a pre-approval letter tells you exactly home much home you can afford. It also lets sellers know that you’re serious about making an offer, giving you an advantage over the competition. And if your credit score or debt-to-income ratio (DTI) are out of range for a home loan, your lender will tell you that.

Be patient

In the mortgage world, 2020 has been the year of record-low rates. Buyers have responded to the favorable trend by getting more home, for less. Those who have yet to buy a home, meanwhile, are rushing through their applications in the hopes of snagging a historically low rate. 

Here’s the thing: we rarely see the “dream scenario” come to fruition for buyers. By this, we mean low mortgage rates, extensive housing inventory, and low home prices. So don’t make the mistake of buying the wrong home because mortgages are cheap.

Stay patient while remembering what you want, and you’ll likely score a better deal in the long run.

Hire a good inspector

Nobody wants their house to be a money pit. Granted, it’s in your best interest to establish a separate bank account for home maintenance. But the last thing you want to do is to deplete your savings to fix a leaking pipe.

This is why it’s important to hire a seasoned home inspector. This person should be able to spot any plumbing or electrical issues before you place an offer on a house. If you find yourself in a situation where you like a house but it requires major repairs, you may decide to ask the seller to lower their price.

Rely on your real estate agent

This is a big one. Whether you’re buying a new construction house or an older residence, you must lean on your realtor. Things are going to happen that are out of your control, and your realtor will be the person who keeps you calm.

Let’s look at an example. Say the inspection went awry after you submitted an offer. On the other hand, perhaps you found your dream home but will have to compete with an all-cash buyer.

Almost all real estate transactions involve hiccups along the way. Even if you’re completely organized and respond to communications in a timely fashion, other third-parties may delay things. The best strategy is to work as a team with your realtor, and to let them navigate the obstacles that may surface.

Take a leap of faith

The home buying process is full of second-guessing and anxiety. “Can I really afford a 30-year mortgage in Colorado?” “Would I be better off renting until the real estate market cools?”

These are both completely valid questions that every first-time home buyer in the state will ask. But before you talk yourself out of purchasing a home, think back to why you went down this path in the first place. You wanted to start investing in yourself as opposed to watching your rent check seemingly disappear every month.

An enjoyable home buying experience

Why let a bit of nervousness keep you from achieving your homeownership goals? At American Home Agents, we understand that every home buyer situation is unique. You can count on our realtors to walk you through the process and work on your behalf until your real estate needs are met.

Our team would love nothing more than to get you and your family into a home of your own! We’re also here to answer any and all questions you may have. It’s our belief that informed home buyers make for the smoothest transactions.

Call American Home Agents today at (303) 695-5900.