Are you thinking of buying a home in Alaska? Here are six things you need to do for a smooth purchase.
- Look into your finances
To set the right budget, you need to take a look at your finances. Sit down with a trusted professional from your bank, go over your credit score, savings, debt-to-income ratio, and identify the next steps to help you finance your home.
Knowing how much you can afford from the very beginning helps narrow down your home options. It also enables you to prepare for other expenses, such as closing costs and professional fees. Consider all your mortgage options, as well. There are great loan programs available in Alaska for buyers of all types.
- Remember the hidden costs
There are two types of expenses you need to shoulder when buying a home: upfront and hidden costs. The latter includes property taxes, closing costs, moving costs, and insurance, but they tend to be overlooked. Keep these in mind and set aside enough money to cover these expenses.
- Be realistic about your real estate goals
Finding the perfect home that checks all your boxes and is within your price range is a difficult task. Remember to be flexible and have realistic expectations during your house hunt so you can have the best experience. Make a list of amenities you can’t live without and another list of things you can compromise on. Getting too hung up on small details could mean losing out on a great property.
- Research different neighborhoods
The location of your home is something you can’t change, unless you move to a new house. Before setting your sights on a property, look into the different neighborhoods in the area. Each community provides its own set of advantages of disadvantages. Consider these pros and cons and figure out which one fits into your lifestyle best.
- Don’t skip the home inspection
Some homebuyers make the mistake of skipping the home inspection in the hopes of saving more money, but it can actually have the opposite effect.
A home inspection report tells you if the home has any major defects. It looks into everything, from the roof and the foundation to the plumbing and wiring. You can also use the report when negotiating with the seller. It can save you a lot of money in the long run, so don’t rush this part.
- Buy during spring or summer
The best time to look for a home in Alaska is during the spring and summer months. The pleasant weather will make it easier to view houses compared to the cold winter season. Sellers are also more inclined to get a quick sale before winter begins. Buying during these seasons also gives you enough time to prepare the home for the winter months.
Work with a Matanuska Valley realtor