Harvey looks at options to deal with uranium, arsenic in water (CBC New Brunswick)

Steps are being taken to try to mitigate Radon Test risk from high levels of uranium and arsenic in Harvey's drinking water, Mayor Winston Gamblin says

Home buying has always been a tedious process. The home buying journey Radon Test fraught with winding turns and crossroads, making buying a home complex and difficult. The complexities of the real estate and mortgage market are not easy to decipher. So, the more prepared you are before you begin home shopping, the easier it will be. Herein, I have assembled a top ten list for home buyers. This list is good preparation for homebuyers who are setting out on their home buying journey.

1. Decide on what you can really afford Before buying the house, do a monthly budget. It is critical that you know your finances in-and-out, only then can you truly know how much home you can afford. The general rule of thumb is that you should purchase a home that is about 2.5 times your annual salary. But use our extensive online mortgage calculators to better understand your affordability. Learn how your income, expenses, and debts can affect what you can afford.

2. Strengthen your credit as needed

Majority of Americans apply for a home loan mortgage to buy a home, you must ensure that your credit history is the best possible. A few months before you start house hunting you might need to check your credit score, get your credit report, and do credit repair or credit counseling to ensure your credit is optimal for your situation. It is important that you stay on top of the facts in your credit report and remedy any problem areas

3. Get pre-approved, before house searching

Now that you know how much your home budget is and have optimized your credit, it is time to get pre-approved for a home loan. A pre-approved mortgage loan will save you time and money by better positioning you to make an earnest offer for the home. Unlike a pre-qualification, which is based on a brief review of your financial situation, pre-approval from a mortgage lender involves an in-depth analysis of your actual income, expenses, debt, and credit history.

4. If you have kids, buy a home in a good school district

Not all school districts are created the same. For most homebuyers with families, buying a home in a good school district is fundamentally important. In addition to providing your children with better schooling, you also enhance your property value when it comes time to selling your home.

5. Work with a good local real estate agent

Real estate agents are there to help you find the best home that meets you needs. Interview some real estate agents; work with the one you like and trust. Your agent will be invaluable in helping you narrow down the choices of homes to the ones that fit your criteria, saving you time. You will not waste time looking at homes that don't meet your requirements in all spheres. Also, the real estate agent is a great asset when it comes to bidding for and negotiating the home price with the home sellers.

6. Choose the right mortgage home loan

Deciding upon the right type of mortgage can be a minefield. There are so many choices: fixed rate mortgages, adjustable rate mortgages, interest-only mortgages, subprime mortgages, and more. How do you know which mortgage home loan is best for your current financial situation and your long-term goals? Here a trusted mortgage broker or mortgage lender can provide you expert advice and personalized service. Moreover, a trusted personal mortgage consultant gives you competitive low rates to meet your needs. To learn more, start by arranging a complementary consultation with an expert mortgage consultant. You can locate a local mortgage consultant in your area by using our mortgage directory.

7. Introduce your team to each other

Make sure once you have your team in place, introduce the real estate agent and the mortgage consultant to each other. Your team should be on the same page with regards to your home buying goals.

8. Making the offer

Now that you have the financing and team in place and have found the home you were looking for, it is time to make an offer. Before making the offer, check out for how much similar homes have sold for in the neighborhood in the last 3 to 6 months. This will give you a good idea on where to roughly start your bid. But consult with your real estate agent before making your bid.

9. Get your own home inspection

Once your offer is accepted by the home seller, it is time for the extensive home inspection. Some of the main inspections to be considered are: insect, radon, building quality, oil tank, asbestos, title, termite, lead paint analysis (if house built earlier than 1980s), and etc.

The home inspection can be performed once or sometimes 2 or 3 times, depending on how extensive the inspections are. A thorough home inspection can possibly save you from incurring costly repairs down the road.

10. Your home insurance and closing

You need to purchase a good home insurance policy to help protect against unexpected costs or home repairs. You are just one more step closer to your new home, only the final closing stands before you. Ensure that you have the proper items for the closing: complete paper work and deposits, title work, homeowners insurance, and other items necessary under local and state laws. Of course, your real estate agent and mortgage broker or mortgage lender will help you during the closing.

It's official; you are now a proud homeowner, time to move in.

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