How to Buy a Home in Columbus, Ohio in 2023: A 6-Step Guide

You're thinking of moving to Columbus, Ohio in 2023 but have no idea where to begin the home buying process. I get it. The market here changes nearly every week, and without a clear roadmap, you can waste time looking at homes you can't afford or miss out on properties that actually fit your needs. Columbus and its suburbs offer some of the best and coolest new construction homes in the entire country, but the competitive landscape means you need a strategy before you even call an agent.

Write down specific details. How many bedrooms and baths do you need? What areas are you considering? What's your price point? These aren't just nice-to-have details, they're essential when you're speaking to a loan officer or touring homes with an agent. You need to know what questions to ask your lender to get the best interest rate. Ask how many points they charge upfront to originate your loan. With rates being higher than they have been over the past few years, these questions matter more than ever.

The most important thing I take pride in as a realtor is being available for my clients 24/7. If you call me when I'm sleeping at 2:00 AM, I may not answer, but if you leave a voicemail or text me, I promise you I will text you or call you first thing in the morning. Ask a few questions when you're interviewing agents: How long have you been in the business? How many homes have you sold? What areas do you work? Do you know the city well? Do you know the suburbs? Ask about their credentials and get a sense of their experience.

When you speak to a lender, be very crystal clear with exactly your goals and how much you want to spend monthly when it comes to your mortgage payment. They're going to ask you how much you want to spend monthly and what your goals are. Do you want a lower rate? Do you want to bring less money up front? All of that is going to depend on the type of loan program you are going to get. That's why it's very important to speak to a lender early on in the process so they can go over all the small details you might not even think about and the cost associated with buying a house.

This is the fun part. After you came up with a game plan, you hired a great realtor, you know exactly how much house you can afford, the next step is looking at homes. This is ultimately what I love doing. I love helping clients find homes that fit their needs, and clients love it too. Let's be honest, nobody loves hiring a real estate agent. Nobody loves speaking with a lender and talking about money. That stuff can get a little bit boring. But what we all love is looking at nice, beautiful homes.

If you work with me, we may look at one home and you may love it, you may want to write an offer, or we may look at 20 homes. The key to looking at homes is to look at a few homes because you most likely, even if you love the first home that you see, it's always typically best to look at a few homes. Would you really buy a car without test driving a few? Probably not. Unless you absolutely love that home, you would probably look at a few different options before just making such a big financial decision.

If you're looking at homes that are on the existing market, there are multiple offers on every single property in a good school district typically, that is priced right. Hire a great agent that can guide you down the process of writing an offer. Writing an offer should not be a scary process. We all use a standard contract. It's pretty simple. The biggest thing is you may lose an offer your first time writing one, but the goal is to keep on going until you find that right home. I promise you, if you don't give up, you will find your dream home before you know it.

FAQ

What is the first step in buying a home in Columbus, Ohio?

The first step is to have a game plan. Sit down and write out your budget, your needs (bedrooms, baths, areas, price point), and your expectations before you speak to an agent or lender. This step is often overlooked, but it sets the foundation for everything that follows.

Do I need a pre-approval letter to make an offer in Columbus?

Yes. In Columbus, Ohio and anywhere in Central Ohio, you cannot write an offer on a home without a pre-approval letter. Listing agents will not consider offers without one because it's riskier to accept an offer from a buyer who hasn't been pre-approved.

How competitive is the Columbus real estate market in 2023?

The market is competitive, especially for homes priced right in good school districts. Most of these homes receive multiple offers. Market conditions are changing nearly every week, so it's important to work with an agent who stays on top of local trends and can write a solid offer.

Should I consider new construction homes in Columbus?

Absolutely. Columbus has some of the best and coolest new construction homes in the entire country. New construction is a fantastic option if you want to avoid the multiple-offer competition on existing homes and get exactly what you want in terms of layout, finishes, and location.

How many homes should I look at before making an offer?

I recommend looking at a few homes, 3, 4, 5, even up to 10, before making a decision. Even if you love the first home you see, it's typically best to look at a few options. You wouldn't buy a car without test driving a few, and the same logic applies to buying a home.

What happens after my offer is accepted?

After your offer is accepted, you'll schedule a home inspection, the lender will order an appraisal, and you'll work through any contingencies in the contract. If everything goes smoothly, inspection looks good, appraisal comes in at value, you'll move to closing, where you get the keys to your new home.

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