The Ultimate Burbank Home Buying Checklist
Few things can be as arduous and time consuming as buying a Burbank home. It’s not as simple as attending a few open houses and filling out a little bit of paperwork. There’s actually a lot to be done. If you’re buying a home in Burbank, check out our ultimate Burbank home buying checklist and get started.
Round Up Your Financials
Buying a home is a major financial decision, one that will affect you for the next decade or more of your life. You don’t want to buy a Burbank home your current budget can’t afford, and yet, you can’t live in a studio apartment either.
To make sure you know exactly what you can and cannot afford, round up your financial information and look it all over. You will need:
- Pay stubs
- Bank statements
- Tax returns from the previous years
- Credit reports from Equifax, Experian and TransUnion
Make sure you check for errors.
Check Out Mortgages
There’s more than one way to approach the Burbank home buying process. If you aren’t sure what your options are, start doing your research to find out.
You can get the standards, the fixed or adjusted mortgages, but depending on your situation, you might be able to get something better. Veterans and physicians just getting out of school qualify for certain loans, and if you’re moving to a rural home, you may be able to get a better loan as well.
Whatever loan you choose, go ahead and apply for it. If you’re accepted, that pre-approval letter will be an excellent bargaining chip when it’s time to make an offer.
Find Your Best Neighborhoods
You may love the tree-lined streets in one neighborhood, but if it’s not in your preferred school district, then you shouldn’t even look at homes in the area.
When you look at Burbank neighborhoods, keep a few things in mind. The location should be close to work or at least close to public transportation. You’ll love your new home a lot less when you spend an hour in heavy traffic. If you have kids, check out school districts and find a neighborhood in one you love. Of course, don’t forget to check out crime statistics. You don’t want to be in a bad neighborhood.
Decide on Your Agent
While some people sell their homes on their own, you really should work with a realtor. They know the neighborhoods, and they can help you go through and file all the paperwork you need.
Don’t hire just any realtor though. Choose a few that seem like good matches and interview them. If you like their selling style and personalities, then go ahead and hire them.
Start Your Must-Have List
When you start looking at homes, you’re going to see a lot of cool features, like upgraded kitchens and pools in the backyard. Those features are going to distract you. Is it worth paying $75,000 more for a home with features you just don’t need? Probably not. Write down your must-haves and keep them with you as you look at homes.
Once you have your must-haves and your realtor, it’s time to start the house hunt in Burbank. Keep to your list and budget, and you’ll have a new Burbank home in no time.