Buying your first house in Lawrence

There comes a time in life when you have to be really focused and careful. And that's the case when buying your first house in Lawrence. This is one of the most serious decisions you can make in your life, as it can have a big effect on your life and your budget in the upcoming period. For this reason, you should be really prepared for this process. Read on and see how to handle every step of the way of this process of buying your first house in this lovely city.

The financial aspect of buying your first house in Lawrence

One of the most important things to do when buying your first home in Lawrence is to determine your budget. That way, you won't even consider bothering with the listings that aren't within your budget. And, by doing this, you'll be able to save money for fees that you are expected to pay during the process of buying your home. However, don't forget about moving expenses. Even though you can move on a budget, you still need to plan for it accordingly. These are some of the costs that you can expect:

• Costs of survey
• Down payment
• Closing costs
• Mortgage payment
• Deposit
• Solicitor fees
• Fees of evaluation

The market in Lawrence, Kansas

As you can see, the cost of the property is far from being the only cost you'll have to pay. But, speaking about it, according to zillow.com, the median price of homes in Lawrence is $221,314. The market is very hot, and the price has gone up 3.8 percent over the last year.

Know the specifics

One of the first things you should know is what kind of house you want to get and in which neighborhood. And be very specific about these, since it will help you stay focused when you see all the listings. The next thing to know is the price of comparable homes in the specific or similar neighborhoods. And of course, set a timeframe for buying your first house in Lawrence and, determine your budget. Also, you should think about the size of your home and if you're going to move all of your belongings or you'll store things you don't need immediately.

Check your credit score

You should contact the lender and check your credit score. Also, you can do this online. The reason why this is important is that if your credit score's not good, there's a good chance that you won't get approved in the first place. Or, if you do get approved, you might not get favorable terms. So, remember that at this stage, you shouldn't do anything that will affect your credit score. After you get approved, you can start to make offers.

Having a real estate agent is helpful

You might get the impression that you don't need a real estate agent since you can find good listings online. However, you might want to reconsider this. Realtors usually have more listings to choose from and they can really save you time and energy in the process of buying your first house in Lawrence.

Time for property viewing

Once you find the properties that seem interesting to you, it's time to schedule appointments. It won't be hard to do this with the usual 24-hour notice, as sellers should be interested in selling the properties as well. Hopefully, your feet are well-rested, because it's time to do some walking. Schedule at least 3-6 properties the first day. The second day, it's all right to visit a fewer number of properties.

Look carefully when buying your first house in Lawrence

Once you're viewing the property it's time to go in the greatest detail as possible. Open every window, every door, switch on the lights, check the appliances. And don't be afraid to ask everything you need to know. Don't be shy, don't think that you're going to embarrass yourself. After all, you're buying your first house in Lawrence, this is going to be your house. And sellers want to sell the house, even if there's something wrong with it. So, ask your realtor to help you, as they might notice the things that you won't.

Ask all the important questions

If you notice a flaw, ask about it. Buying a fixer-upper is not uncommon, but you don't want to end up investing in the place much more than you've planned. That's why you should have answers to all the important questions:

• Ask how long the property has been on the market. - one of the questions that will reveal a lot when buying your first house in Lawrence.
• Why is the house being sold?
• When can you move in?
• Are there any other offers?

If you're sure that this is the right property, then you should make an offer.

Make an offer

Now you need to come up with the right price. And that doesn't mean that you should offer the lowest possible price. There's a chance that the seller will take that as an insult, and not consider you as a serious buyer anymore. So, in order to find just the right price, you should know the comparable home prices and the average days on the market of similar homes.

The paperwork

It's essential that you and the seller agree on all the points. But, it's even more important to get this in writing. Make sure that all the important points in the contract are just as they should be. Also, if you need financing, you'll need Proof of Funds and a prequalification letter.

After you buy your home in Lawrence

After buying your first house in Lawrence, it'll come a time for you to relax a bit. When you're done, you can start decorating a place a bit by bit and make a dream home out of it. But first, breathe in and get ready for the new beginning of your new life in your lovely new home.

My name is Betty and I have been writing expert articles in relation to the moving industry for the last couple of years. Besides this specific area, I am also experienced in other spheres pertaining to the concept of relocation.