Tips for finding a home

Searching for your perfect home is exciting.

Here’s a checklist of things to consider as you search:

• Your commute
• Distance to shopping, parks, restaurants
• Medical care availability
• School district preference
• Traffic flow on street
• Value of nearby homes
• Future plans (think ahead to the next five to seven years)
• Your financial situation
• Transportation options (distance to public transit, for instance)
• Neighborhood
• Age of home

It can also be helpful to consider your needs and wants when it comes to a home. Needs are your “must-haves”—and they aren’t the same for everyone. What might be a need for you might be a want for someone else.

Needs can include things like school districts, number of bedrooms and bathrooms, or a home office. Wants are things you would like but can live without. They can include things like a garage or a swimming pool. One way to think about needs and wants is that wants are optional. Needs aren’t.

A real estate agent can be a helpful resource for finding the perfect home.

Searching for the right home takes work. Finding a real estate agent you’re comfortable with can be a big help. While you’re not obligated to work with one, an agent can provide a variety of services to help you coordinate the many activities that are involved in a real estate transaction, such as:

• Finding homes that meet your needs in your price range
• Arranging home tours
• Providing information on schools, tax rates, and public services available for each neighborhood you visit
• Working with the seller’s agent on offers and other items
• Helping you sell your current home
• Assisting you in selecting a settlement agent, home inspector, and other service providers you may need during the homebuying process, like a homeowner’s insurance agent or a moving company

There are several ways to find a real estate agent. You can search online, take note of advertisements, or ask your friends, family, neighbors, or colleagues for recommendations. Most agents can represent either buyers or sellers; you might use the same agent to sell a home and purchase a new one.

Things can move very quickly at this stage in your home search. Take this time to assemble the team of professionals whose services you’ll need to retain shortly after selecting your home and notifying your loan officer.

Your team

A real estate agent is licensed to sell real property, acting as an agent for others. They can also help you find other members of your team. For example, some real estate agents have home inspectors they typically work with.

The settlement agent is an individual or firm responsible for the final stages of completing a sale (known as the “settlement” or “closing”) between the buyer and seller. Settlement agents are usually responsible for facilitating payment from the buyer to the seller and transferring the

property or securities from the seller to the buyer. Your agent may be able to assist you in finding a settlement agent.

For a fee, a home inspector inspects and provides written reports on the overall physical condition of a residential structure.

A homeowner’s insurance agent sells insurance policies that protect individuals from financial loss resulting from accidents, fire, theft, storms, and other events that can damage property.

Homeowners insurance tip

The company that provides your car insurance may also offer homeowner’s insurance policies. Discounts may be available with multiple policies. Be sure to inquire and shop around for the best rates.

What’s next?

When you’ve found the home you want, it’s time to consider your options and make an offer.