Did you know that Idaho is not just famous for its potatoes? It’s also home to stunning landscapes, mountains, friendly communities, and great weather!
But if you’re not familiar with the geography, you must be very careful when searching for Idaho property for sale.
Let’s explore 5 simple steps to make your home-buying experience smooth and enjoyable. Ready to turn the key to your Idaho home?
Navigating the path to your perfect home in Idaho can be daunting, but your house-hunting really comes down to five easy tasks.
Whether you think you already know where you want to live or are going in without any experience, keep in mind that buying a house is a long-term commitment. You’ll want to make sure you’re in a location that has all the perks that make you happy.
Are you moving near family or relocating due to a job? If so, you’re somewhat limited as to the area you’ll be home-shopping in. But if you’re able to choose to live anywhere in Idaho, consider aspects such as the cost of living, Idaho property taxes, and the often-treacherous winter weather.
The next step should always be getting pre-approved for a mortgage. This preapproval helps you narrow down your budget when looking at sales prices. The added benefit is knowing the down payment you will need on hand.
Sellers tend to accept offers much quicker from a buyer with a pre-approval letter. Once you have your budget, this can help narrow your location down.
The type of loan you qualify for will determine your down payment needed. Discuss your options with your mortgage professional. How much you decide to put down is very important. The more you can put down, the lower your monthly payment. Note that on top of your down payment, you will also have to pay closing costs on the loan. Your mortgage professional will give you a detailed list of these costs.
You’ve made your offer, and the seller accepted! Congratulations!
The next step is a home inspection. Some people may think, “Oh, I don’t need to do this,” to save money. But there are many things that you may not see that a licensed home inspector will.
The inspector will look at everything from the ceilings and floors to things you can’t see. Some inspectors can even check the foundation. Your realtor can negotiate with the seller on fixing whatever you see that needs repair.
Your job now is to be patient. Many things happen behind the scenes to get to the closing. A licensed appraiser will do an appraisal to ensure the value is there for the purchase price. Your loan officer will submit the paperwork to the underwriters for approval to close the loan.
During this time, the most significant thing NOT to do is spend large amounts of money. Do not go furniture shopping or buy a new car. These types of things can delay a closing. Once at the closing table, you will sign a lot of papers.
Once everything is set, money moves, and you get the keys to your fabulous new home!
Now that you know how easy it is to buy a home in Idado. what are you waiting for? Start shopping today for your new property in the Gem State!
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