Phoenix Home Buying 101

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Phoenix Home Buying 101 Guide - Phoenix Urban Spaces

Starting the home buying search?

The Phoenix area is one of the best places to live in Arizona!

That coupled with the current state of the local real estate market makes it the perfect time to buy in Phoenix. There are many condos & homes for sale in Phoenix and surrounding areas, including Scottsdale and Tempe.

To better help those looking to buy, we have a few pointers and things to consider before beginning your home buying search.

Complete a Pre-Approval Process

If you know which bank you want to work with, contact a representative about going through the pre-approval process that will indicate how much of a loan you qualify for to buy your home.

The amount provided by the pre-approval are very useful when it comes to narrowing down choices. For starters, it will give an idea of what you can afford to buy.

It will also provide an idea of what areas in town are options.

Study the Jargon

When buying a new home, learning the financial terminology is key. Many terms can sound similar but may mean different things.

No buyer wants to end up paying more simply because of a couple confusing words.  So know and understand the terms.

Know What You Want

Looking for a new place to live is much easier when a buyer knows what he or she wants. Important things to narrow down are:

  • What areas and neighborhood are you interested in?
  • Are school districts an important variable?
  • How much space or how many rooms do you need?
  • Anything in particular that you require? (covered parking, pool, etc.)

Research Mortgage/Loan Options

In some cases, the traditional 30-year mortgage isn’t the only option. If you are interested in something different, you can talk to a loan officer about other options.  They will be able to tell you what is suitable for the purchase and determine what is financially feasible.

Research Phoenix Arizona Real Estate Agents

Look into hiring a real estate agent. Not only do real estate agents help find a home, they make the process easier for the buyer. Real estate agents are familiar with the housing market and can narrow down possible homes and condos much more efficiently.

A licensed real estate agent can give you guidance with the financial aspects (such as finding the best bank or loan officer), the pre-approval process and; best of all, handle the negotiations to best benefit the buyer.

Scottsdale, Arizona Condos For Sale

We at Phoenix Urban Spaces have the top real estate agents in Scottsdale, AZ and the entire Phoenix metro area. Scottsdale real estate agents are here to help those interested in condos in Scottsdale. Luxury condos in Scottsdale are currently a hot buy. Click here to view more condos in Scottsdale, AZ.

Contact us today for help with your new home buying process!