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For many people, the home buying journey is a long, complicated and often stressful process. However, this is often because most people do not know what to expect. When you enter the process with an idea of what you can look forward to, you can anticipate future challenges, plan for ways to overcome them and, ultimately, enjoy the ride.

Though the buyer’s journey will differ for everyone, there are major components that just about every aspiring homeowner can look forward to. We’ve provided a brief overview of the Big Five below.

The Homework Phase
Before you begin to even think about buying a home, you need to sit down and go over your wants, needs and budget. Be realistic, especially where price is concerned, as you don’t want to fall in love with a home you cannot afford. A pre-approval from your bank (an often-necessary step) can help you define an accurate budget.

The Search
Once you have a solid idea of what you want in a home, start shopping. Depending on the market, this could take a few days to a few months. If your search falls into the latter camp, be patient, as The One will come along.

The Purchase
Finding The One is just the beginning. For simplicity’s sake, we’re going to define the purchase phase as one step, but in actuality, it consists of several. Those include making an offer, negotiating the purchase price, signing the contract, getting a final mortgage approval and investing in a home inspection and appraisal.

The Insurance  
A home is a huge investment and it’s important that you protect it as such. Shop for affordable yet comprehensive home insurance. Once you find the coverage you need, the company will send someone out to assess the property for potential risks. Talk to your AAA Insurance Agent about additional policies it may require, such as earthquake or flood coverage. Be sure to contact your local AAA office for a home insurance quote.

The Big Day
When moving day rolls around, you want to ensure it goes as smoothly as possible. In addition to having the right help (and the right discounts), you want the right coverage.

A lot can go wrong when you transport your whole life in a moving truck. To mitigate loss should something go amiss, invest in the four main types of moving truck insurance: Damage waiver, supplemental liability insurance, personal accident and cargo protection, and towing coverage.

Of course, there’s much more to the home buying journey than what is spelled out above. However, armed with knowledge of what to expect from the five main components, you can plan ahead and hopefully get into your new home with as little fuss as possible.

 

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