Are you interested in buying a home in the Southwest metro of the Twin Cities? It’s one of the best places to live in the state of Minnesota, with many great cities like Chaska, Eden Prairie, Chanhassen, and Victoria. However, buying a home in the area isn’t as simple as finding a house you like and making an offer. Home buying is a multi-step process that can be especially confusing for first-time buyers. Follow this step-by-step guide to make the home buying process easier for you.
7-Step Home Buying Checklist
- Make sure you have enough capital to buy a home in the Southwest metro. While you’re likely going to take out a loan to cover most of the cost of the house, there are still many additional fees, including your down payment, closing costs, and monthly mortgage, that you’ll end up paying out of pocket. Calculate your budget for buying a house before moving on to the next step.
- Choose a mortgage lender and apply for pre-approval. The type of mortgage loan you apply for may vary depending on your financial situation. Getting preapproved for a loan from your chosen lender is crucial because it will reassure both you and the home seller that you can actually get the loan you need to purchase the home you want.
- Find a real estate agent in the Southwest Twin Cities metro. Realtors play a vital role in the house hunting process by helping you narrow down your selection, bringing you to showings, and ultimately negotiating with the seller. Make sure you find a local realtor who is knowledgeable and easy to work with.
- Choose the home you want to buy. Your realtor can bring you to both private showings and open house events of homes in the Southwest metro that are within your budget range and meet all your needs. Don’t just pick the first house that seems nice; make sure to find a few viable options and then narrow it down.
- Make an offer on the home you want to buy. Your real estate agent can help advise you on how much to offer. Depending on the market, it may be wise to offer the exact asking price, slightly above or slightly below. The seller may accept your offer right away but, commonly, you’ll need to negotiate to reach a price that is agreeable to everyone.
- Once the seller accepts your offer, work through the closing proceedings. Before fully committing to buying a home in the Southwest Twin Cities, you should schedule a home inspection to make sure there aren’t any nasty surprises in store for you. If the inspection turns up any needed repairs, you should address this with the buyer.
- Close on the home. There will be a lot of documents and checks for you to sign, and your realtor can guide you through all of it. Once the closing process is finished, congratulations! You’re the owner of a home in the Southwest Twin Cities metro.
Dependable Realtors in the SW Twin Cities Metro
If you’re ready to begin your home buying journey, it’s never too early to find the right realtor to guide you. Call the Nydahl Group today if you’re interested in working with us to buy a home in the Southwest Twin Cities metro area!
