Your Fairbanks Home Buying Checklist

This probably goes without saying, but buying a home in Fairbanks is one of the most important investments you'll make in your lifetime. Once you have finally decided to take the plunge, there's a lot to consider before you sprint to the Internet and start browsing for your dream home. How much can you afford? What neighborhood will be the right fit? Luckily, as your Fairbanks real estate agent, I can help you answer these questions and remain glued to your side throughout the entire home buying process. Ready to get started? Here's an abbreviated home buying checklist to get you started on the right foot.

1. Find out how much you can afford
Don't start your Fairbanks home search without a budget in mind! Trust me, you'll be disappointed when you find out that amazing home you've been coveting is way out of your price range. Though it's not required, consider getting pre-approved for a mortgage to show a seller you're serious and qualified to purchase their property. It'll also give you a leg up on those with competing offers!

2. Find a Fairbanks real estate agent
This step is especially important if you're a first-time home buyer. One of the best parts is that enlisting the help of a professional to guide you through the Alaskan real estate market doesn't cost you a dime! With the expertise of a Fairbanks real estate agent by your side from your initial search through the closing process, an otherwise stressful event becomes smooth sailing, and even fun. 

3. Determine your wants and needs
Only you know what you want and need to live comfortably and within your means. Bedrooms, bathrooms, square footage, parking, location, architectural style, and price range are all things to think about before starting your search. Handing this information over to your Fairbanks real estate agent will give him or her a clear picture of what homes to show you.

4. Begin your Fairbanks home search
Now the fun part begins! In addition to the work your real estate agent will be doing for you, feel free to get online and do some poking around of your own. Better yet, take a drive through the neighborhoods you're most interested in and look for "For Sale" signs. Talk to neighbors who happen to be outside to see if you can picture yourself fitting into the community.

5. Make an offer and negotiate
This is the stage in the home buying process where you'll be really glad you have a Fairbanks real estate agent by your side. Have your agent define any requests and repairs you want included in the sale and decide on a move-in date. Once you and the seller agree to the terms, you'll sign the Purchase & Sale Agreement and you'll be on your way to owning a piece of the Alaskan real estate market.

6. Seal the deal
Getting a professional home inspection is an important part of the home buying process. If any issues come up during the appraisal or inspection, you can re-negotiate the terms of your contract. Finalize the loan process with your lender, perform a final walkthrough prior to closing, and don't forget to set aside some cash for the closing costs!

Even though this is a broad overview of the home buying process, I hope you have a better idea of what's in store for you over the next several months. Investing in a home is a huge decision, and we at Madden Real Estate are committed to helping you each step of the way. We absolutely love living in Fairbanks, and are sure you'll fit right in. If you'd like more information about what it's like to live in Alaska or have any questions about the home buying process, don't hesitate to reach out to us! 

I hope to hear from you when the time is right.

Wes Madden, CEO/Broker
Madden Real Estate
(907) 452-3000 

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