Five Tips on Buying a New Home in Jacksonville
Jacksonville is known for its beautiful stretches of beaches, waterways, and activities that engross the mind, body, and inner adventurer. The many spectacular, outdoor family fun activities and culture, mixed together with the fabulous Mediterranean and French style homes can lure you to move to Jacksonville. If you and your family are planning on calling this great city home, then top local moving company All My Sons Moving & Storage has five tips on buying a new home in Jacksonville.
Buying a home requires a lot of time and effort, so these tips from Jacksonville movers will help the process be more manageable and will allow you to make the best decision possible.
Tip 1: Research Early
The moment you and your family decide to move to Jacksonville, start reading websites, newspapers, and magazines that have real estate listings in the Jacksonville, Florida area. Makes notes of homes that you are interested in and see how long they stay on the market. One helpful tip is to note any changes in asking prices. This will give you a sense of the housing trends for the specified area.
Tip 2: Determine How Much You Can Afford
Realtors usually recommend to look for homes that cost no more than three to five times your annual household income. You should make the determination based on your financial situation. Consider your income and other expenses, as well as your amount of debt. A 20% down payment is usually required and as a helpful tip, Jacksonville movers recommend that you start putting away funds for your down payment as soon as possible.
Tip 3: Start the Prequalification and Preapproved Process for credit on your Mortgage
The best way to know how much you can actually spend on a home is to get prequalified for a mortgage. You simply have to provide some financial information to your mortgage banker, such as your income and the amount of savings and investments you have. Once reviewed by your lender, they can then tell you the price range of the homes that you qualify for. Later in the process, you can get preapproved for credit, which involves providing your W-2 statements, paycheck stubs, bank account statements, etc.
Tip 4: Find the Right Real Estate Agent
Being comfortable with your real estate agent is a very important step in the home buying process. They provide helpful tips and information about the neighborhoods and the area in which you are looking into. So, it is important for them to know what you like. Their negotiating skills and familiarity with the area will be extremely valuable in choosing your home.
Tip 5: Get a Home Inspection
Once you have chosen a home, made an offer and filled out all necessary paperwork, a home inspection should be next on your list. Check for signs of structural damage or things that may need fixing. Your real estate agent can help you arrange this inspection within a few days. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant material damage.