Are you still paying that high rent in a post-Katrina market? Or perhaps you relocated and are ready to return and call the New Orleans West Bank home again. Instead of surfing the internet and dreaming about being a home owner, why not take these 5 easy steps to make it a reality rather than a dream?
Prequalification
First things first….and getting prequalified for a mortgage is the first and most important step in the 
home buying process. Today’s sellers are not willing to take their homes off of the market for a buyer who has not taken the time to be qualified for a mortgage!
When you are serious about buying a home, it’s important to sit down and meet with a mortgage professional who will take the time to understand your budget and work with you to find the best loan product to suit your needs since there may be special programs that can assist with your closing costs or that require a smaller down payment. Your lender will require you to provide documentation such as your tax returns, paycheck stubs and bank statements and being prepared to provide all of this information makes the approval process much quicker.
REMEMBER: Most of the 100% financing programs are a thing of the past. Plan on at least a 3% down payment for any home you decide to purchase. For a $150,000 home, this works out to a $4,500 down payment. Additionally, you will need funds to pay for (at minimum) a home inspection ($250-$350) and a termite inspection ($85-$100). Additional inspections may be suggested dependent upon the home you choose.
Wants and Needs
Once you have been pre-qualified, it’s time to decide what is most important to you in your new home. Is it a particular neighborhood or school district? A certain number of bedrooms and bathrooms? A garage? Make a list of the must haves and the nice to haves and try to remain flexible. You don’t want to pass on a great house because it’s missing one of your nice to haves but meets all of your other needs. The articles below may help you narrow your focus.
How to choose a Neighborhood for Your Home Search
Choose a REALTOR®
Home buyers don’t pay a penny to be represented by a professional West Bank REALTOR®! There is no need to go it alone when you can have an advocate on your side, looking out for your best interests during the home buying process. Since this is more than likely the largest investment you will ever make, doesn’t it make sense to have a professional guide you?
5 Steps to Choosing Your New Orleans West Bank Real Estate Agent
Find a Home
This is where the fun starts! Visiting available homes and choosing the right one for you or your family should be fun – keep it that way… If you visit a home that is not quite right, that’s OK. Move on to the next home on your list. As an agent, I learn more and more about my clients tastes, wants and needs each time we see a home, whether they love it or hate it. 
Although it’s tempting to want to see everything at once, limit your showings to about 5 homes a day. More than this can be overwhelming and the homes will start to run together and become confusing. Was the great closet in this house or that one? Which one had the big backyard? Taking notes during the showings can also be a great way to keep them all straight.
I usually ask buyers to rate each home as we go along to narrow down the list. Did you like house #2 more or less than house #1, and so on as we work our way through each. This helps keep you focused on your favorites and makes choosing so much easier!
10 Steps to House Hunting with a Critical Eye
Negotiate an Offer
This step in the process is where the assistance of a professional is invaluable. Before you decide what to offer on a home, review the neighborhood comparables to learn about recent sales of homes similar to your choice. This will provide a guideline for what you can expect to pay. Remember, each home is unique – some sellers are willing to negotiate more than others and working with a professional West Bank REALTOR® who knows the area can arm you with the right information to get that offer accepted!
Your Offer’s Been Accepted – Now What?
When you are ready to stop dreaming and make owning a home on the West Bank of New Orleans a reality, contact the West Bank Living Team. Specialists in West Bank real estate, we’d be happy to help you find the perfect place to call home!
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Nice article. I suppose it has to be hard, being a realtor in New Orleans, I supposed such affected market it’s hard to find in North America area. Or it’s not so bad? Kathrina and real estate recession, one better than other…I am Steveston real estate agent and here was big panic after announcement of Canadian real estate market slowdown, I have no idea what we would do in your situation…