As you prepare to purchase a home in the Detroit area is it important to create a checklist of the steps below. There are far more steps than many new home buyers realize. Being prepared for the process helps to reduce some of the stress associated with the home buying process.
Select an Area to Search in
Detroit has dozens of neighborhoods to search for homes in. As you begin this search there are a few steps to take such as visiting a few neighborhoods at different times of the day or night and on different days of the week. This will help you to see what the neighborhood is like as far as noise level. You can speak with the local police department regarding the crime rate in a specific area.
Gain a Mortgage Pre-Approval
It is very wise to go into the home buying process with a mortgage preapproval. What this tells a realtor and yourself, is what type of homes you can look at as far as price is concerned. Combine the preapproval amount along with any funds that you have saved to make a total budget. You can reduce your maximum purchase amount of the budget breakdown is too much at this point.
View Homes for Sale
View homes for sale in Detroit Michigan that are within your budget, desired neighborhood and those that meet your requirements. Keep in mind that there may not be a perfect home but there are options that can be modified with renovations that will work for your needs. Some updating may be required for a lot of homes in Detroit as the housing market took a tumble over the last decade. Set a list of must haves and deal breakers so that you can follow a checklist to find what you need and want.
Place an Offer
Place an offer based upon the comparable homes in the area and the current property values assessed by city officials and appraisers. If a lot of renovations or updates need to be made, base your offer upon those findings. Keep in mind that the seller may reject or submit a counter offer. This begins the negotiations process in which you can both come to an agreement on a price. When placing an offer, be sure to include the condition of the home passing a complete home inspection for the deal to go forward. Major repairs or code violations should be completed by the homeowner or you have the right to walk away from the deal.
Use these tips to find the ideal home for your family in the Detroit area. It is ideal to view multiple homes, without comparing one to another, to find the place that truly feels like home. You will know the right home for your family when you walk through the front door. Visions of family dinners and a general feeling of comfort should come over you. Keep an open mind as the interior of nearly any home can be changed to meet your specific needs.