Buying a House in 2024: Steps 1-6

Buying a new home is typically going to be one of the biggest financial decisions you will make. Even if you’ve purchased a home before, it’s a smart move to review the home buying process, from start to finish, so that you’re fully prepared to purchase one of the new homes in Puget Sound WA. We build houses that are meant to be a solid investment just as much as they’re meant to be a wonderful place to call home. In this two-part series, we’ll explore the steps to buying a new home in 2024.

Know the Market. The housing market has been volatile in recent years due to factors such as interest rates and availability. Right now, interest rates are starting to drop and are expected to go a little lower, making it a good time to consider purchasing a new home. Plus, you may find attractive rates offered by sellers to further make it worth your while.

Wants and Needs. Start making a list of what you absolutely need in a new home and what you’d really like, and make sure you consider location and neighborhood, not just the home itself. Also consider if you want to build a new home or are looking for a move-in-ready new home. We offer both in great communities.

Organize Finances. Before you go any further, you need to have a clear understanding of your finances, because this impacts the amount of home you can purchase. Make sure your credit rating is solid and attractive, try to put together as much of a downpayment as possible, and check the interest rates and mortgage calculators to see how much you can realistically afford each month. Don’t forget to budget for closing costs, moving, and other expenditures involved in buying and potentially selling.

Get an Agent. You’re probably selling a home, so it’s important to have an agent, but they can be important for buying a new home, even when you’re buying directly from a home builder.

Mortgage Preapproval. While you may have looked through your finances and feel secure, most sellers will want mortgage preapproval before moving forward. Prequalifying isn’t enough. Plus, this is a good time to discuss options with various lenders to help you find the best rate and mortgage for your particular situation, especially if you’re building from scratch.

Start Looking at Homes. We’re moving into the spring season when house hunting heats up. If you’re looking for move-in-ready or under-construction homes, you don’t want to miss out, so be ready to start looking as soon as your finances are sorted. This is why it’s important to know what you want in a home so you can act quickly if necessary. If you’re looking to build, then you may still need to act quickly to get the homesite you want.

These steps should be done as soon as possible as we get closer to spring and more people start exploring the homes on the market. If you’re looking at new homes in Puget Sound WA contact us today to get a sense of the move-in homes available, as well as the lots and home designs if you want to build your own home. We even offer some special financing through the end of this month on certain homes, so don’t delay!