Why Can’t The Process Of Building A House Be Like The Selecting A New Car Online?

There’s no denying that the Covid-19 pandemic was quick to turn lives completely upside down and affected nearly every aspect of our world. We saw nearly every industry affected and going through changes, especially e-commerce. We saw a change in pricing from groceries and household goods to the car and housing market. The housing market rising wasn’t a shock to many, but what has been seen to surprise many homebuyers is how much the process has changed over the years. When we compare how it used to be in comparison to how it appears today the process has certainly changed quite a bit.

The process for buying or building a new house has changed so drastically that it’s gotten to the point where buyers can even purchase a house online. Just as you can find nearly all the products you need on Amazon, now we’ve seen a recently piloted program where buyers can choose a home, design it, finance it, and put it right in their shopping cart. Although it’s surprising to many, it’s only to be expected with the way that we’ve been seeing technology advance. The industry is changing and in today’s world, the housing industry needs to catch up with the other industries.

Is It Like Buying A New Car?

If you’ve been attempting to buy a house or even more complicated and you’re attempting to build a house, then there’s no doubt that you’ve asked yourself why the process can’t be like the process of selecting a new car.

Buying a new car is usually as easy as deciding on a make and model that you like, perhaps test driving a few options, and then purchasing it. Although it can get complicated at times the overall concept is consistent and seems to be constantly improving throughout the years. Building a house on the other hand is a much more lengthy and complicated process that can be quite time-consuming and can lead to a huge waste of time, money, and effort if you aren’t careful.

However much we wish that these two processes were the same, there are quite a few reasons why they can’t be identical. If you wish that the process was the same and are wondering how they compare, keep reading about the difference between the two processes and why they’re so different.

The Process Of Buying A New Home

Do you feel ready to buy a new home and are wondering if this is a challenge that you’re ready to tackle this year? Wonder what the process involves and how you get from the start to the point where you’re physically living in your new home? The process is usually overwhelming once you get started, which is why we break it down here in a few simple steps to demonstrate the process.

Know If You’re Ready

This first step may seem like the simplest, but too many people think that they’re ready for this huge commitment when in fact they shouldn’t be looking at the market to start with. Before you even start shopping for a new home you have to decide if you’re ready to buy one. Even at times when you feel ready, it doesn’t necessarily mean that you’re in a position to be buying one that you should buy one. Look at your income and employment as well as your debt. To buy a home you need to make sure that your income is reliable and that you’re in a position where you can afford a home and the upkeep that comes with one.

The most critical step in buying a home is making sure that it’s the right time to buy a home. Timing is everything and when you’re thinking about it, it truly narrows down to your situation and what it looks like. Think about all your factors and if everything adds up and if you feel ready, it might be the time for you to start looking. It’s just critical that you take your time since it’s a big and life-changing decision that you want to be sure not to rush into. Take your time and be realistic with your position and accept if you may have to wait a little longer until you’re more stable.

Calculate How Much You Can Spend

If you’ve decided that you’re ready to buy a home and that you’re in a good position for it now the next step is to calculate how much you can afford a house. If you’ve only rented up until now then you have to be fully prepared since owning a house comes with many unexpected costs that you may not have had to experience with renting. Homeownership is different than renting a house and you want to make sure that you’re prepared for all the costs. Realistically sit down and calculate how much you have to spend not only on a mortgage but also on property taxes, homeowners insurance, and other fees that you’ll have to pay.

Start Saving

Even if you’ve already calculated how much you can spend on a mortgage then you still have to think about saving for the down payment and closing costs. There are a few different ways that you can do this including your savings accounts and thinking about investments. The key with this is to start thinking about this early before you’re even looking at houses. Your down payment is a one-time, large payment that will go towards the purchase of your home that many lenders require. Make sure that you start thinking about the down payment and closing costs early and get busy with a plan on how to start saving as much that’s needed.

Decide On A Mortgage and Get Preapproved

Now it’s time to start thinking about a mortgage and which would be the best for you. You want to think about which type of loan is the best option for you and which one you’ll qualify for. There are a few different options when it comes to loans so make sure that you do your research and know your options before you decide on a specific one for your home. Then, when you’re ready and you’re prepared to start the actual job of house hunting, it’s time to focus on getting preapproved. You need this before so that you’re able to show a preapproval letter to your real estate agent and they’ll help you find homes depending on it.

Get A Real Estate Agent

Here comes the part where things start to become a reality and you get to take it to the next level by actually hiring a real estate agent. When you’re looking at homes and buying them, your real estate agent is going to be your representative, and make sure that things go smoothly. They’ll help you to find homes to look at depending on your interests, help when you’re writing offers, and help you with the negotiating process. Although it is possible to go through the process of buying a home without a real estate agent, it’s not recommended.

Especially if you’re a first-time buyer the process can be overwhelming and a little emotional at times. It may seem daunting when you first start looking for a real estate agent but you must take your time and wait until you find someone that you click with. Ask for recommendations and listen to referrals to make sure that you get someone trustworthy and reliable.

Get Started House Hunting

Now comes the part that you’ve been waiting for; you get to start house hunting. You get to look at houses and decide which you want to see in person. Since there are so many options out there you must be clear with what you’re looking for and that might mean making a physical list of what’s important to you. Make a list of what you’re looking for, what’s at the top of your priorities, and what’s realistically in your price range for your budget. Remember that only you know exactly what is going to be perfect before you buy one. Take your time and look at a few different houses before you place an offer on one.

It’s Time To Make An Offer

The next and final step in the house buying process is when you make an offer on a house. When you’re ready to make an offer you have to submit an offer letter in writing and then once you send it over with the details the seller will respond to your offer. Your real estate agent will be involved in this and help you to make sure everything goes accordingly. Once you submit it typically the seller will respond by accepting your offer, rejecting it, or giving you a counter offer. If your offer is accepted then you’ll get a home inspection, get a home appraisal and do a final walkthrough before you close on your new home. Any of these things may interfere with the plans and you’ll be back at square one but if it goes smoothly you’ll have a new home.

Buying A House VS Buying A New Car

Now that you’ve seen the process for buying a new home it’s time to compare the differences between that and selecting a new car. While there may be a few similarities, overall the process of buying a new home is much more complex. While buying a home takes time, planning, hiring a real estate agent and loans, and getting a car are less complicated. These days you can even choose to order a car online, letting you customize and equip it just as you like.

Although it might seem as if the two processes are the same, the process above shows that buying a new home is more complicated and has clear differences. However, as technology advances and the industry keeps changing we may be surprised to find that eventually it will get there and we’ll see that with changes, the process will be simplified. Already we’ve seen things changing with the housing industry and we may be surprised to find that in time it’ll have evolved to be very similar to selecting a new car.