After you’ve gotten your loan pre-approval or have your bank statements ready, you’re ready to start shopping!
In the 2nd step of the home buying process, you should tell your agent what you’re looking for, so they can start searching for homes that match your needs.
The more specific you are, the less time you spend looking at homes that don’t match your criteria.
What kinds of criteria should I think about?
The following is a checklist of things you should tell your buyer’s agent:
- Your price range
- Example: Under $300,000. This amount should be at or below your loan pre-approval amount.
- Your comfortable monthly payment including loan payment, taxes, and insurance.
- Example: Under $1500 per month (This helps the agent help you decide what price range to stay in)
- What area of town you would like to be in. You can be specific. They can create custom boundaries in their system
- Example: Southwest Las Vegas, South of Sahara, West of Rainbow, East of Fort Apache, North of Blue Diamond
- How many bedrooms you need and if you need any bedrooms downstairs (if it’s more than a 1 story)
- Example: 4 bedrooms minimum with 1 bedroom downstairs
- How many bathrooms you need, and what kind of bathrooms.
- Example: 3 bathrooms or more, all with shower or tub. At least one shower must be downstairs.
- If you need the backyard to be a certain size or layout.
- Example: Need to be at least big enough for a pool.
- If you want an HOA (Homeowner’s Association) or not
- A neighborhood with an HOA may look more clean or offer more amenities, but has monthly costs to be considered.
- A neighborhood without an HOA usually has less restrictions with how you upkeep your yard or do construction or paint on your home. If you want an HOA (Homeowners’ association) or not.
- If you need the community to have a gate, pool, or other community perks
- If you need a pool in the backyard
- If you need the washer, dryer, and/or refrigerator to be included in the sale
- If you are open to short sale homes
- Usually 4 month minimum escrow, may be able to get a discount, but more risky.
- This is recommended only for people who have a lot of time and patience.
Have more specific needs?
The following criteria are helpful to know if you have these specific needs:
- If you need a home that’s move-in ready with certain features, or if you don’t mind more of a fixer-upper.
- If you need anything nearby (Shopping, groceries, parks, freeways, etc.)
- If you need a tub in the master bathroom (or any other specifics in the home)
- If you need certain types of flooring
- If you need certain types of appliances
- If you have a preferred type of kitchen counter material
Ready for the next step? Click here: Step 3: Choosing & Viewing Homes
Need to go back a step? Click here: Step 1: Setting Up Your Wallet
Want to start from the beginning? Click Here: Step 1: Setting Up Your Wallet
Thanks for reading! If you think this information is useful, please share it with a friend!
Leng Lim
Las Vegas Real Estate Specialists
702-343-2670