Deciding to settle down in the country and buy a rural home is exciting! You will be able to enjoy the benefits of rural America in your own backyard – like the ability to have a campfire with your children, enjoy a summer evening on the patio, or snuggling up by the fireplace on a wintery morning.
If this is your first time purchasing a home, there are a few things you need to know to get started with the process before calling a realtor.
The Documents you Need
Before getting in contact with your realtor, it’s best practice to find a lender so you know how much money you qualify for to attain a home loan.
Once you have worked with a lender, like GreenStone, to review your finances and have determined how much you can afford, you will take that pre-qualification letter to a realtor for them to help you search for a home in that price range.
Other physical documents you should have handy for your realtor include your contact information and how you want to be reached by them. You should also provide the contact information for your lender so your realtor and lender can communicate.
The Information you Need to Bring to the Table
The biggest thing you need to think about once you have established your pre-qualification price range is your wish list.
Ask Yourself:
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What type of house are you looking for?
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How much property do you want?
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Is there a specific area or school district you want to live in?
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How many bedrooms and bathrooms do you want/need?
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Do you need certain appliances to come with the home?
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Are there deal breakers?
Having your clear list of reasonable “wants” will help your realtor narrow down options for you.
Another thing your realtor needs to know: Will your purchase be contingent on selling your current home or property, if you have one? This could impact the timeline or likelihood of certain home purchases.
The final thing you need to consider before meeting with your realtor is concessions. These can be things like only putting 5% down and asking the seller to cover your closing costs. These are things your realtor needs to know to assist you in making an offer on a home.
You Have a Team
Buying your dream country home can be challenging, but in the end, extremely rewarding for you and your family. It’s important to remember that you’re not alone; you have a team of experts helping you every step of the way.
Choosing the right lender and realtor that shares your vision can help make this a seamless process.
GreenStone has an experienced team of experts helping you finance your dream country home. Learn more about our home financing options here.
