Homebuying Tips Straight from the Football Field

Believe it or not, buying a home is a lot like the game of football. Both require a solid strategy, a whole lot of teamwork, and the ability to think on your feet. Just like a head coach wouldn’t send their players onto the field without a carefully crafted game plan drawn up, homebuyers shouldn’t dive into the buying process without a plan of their own. 

In this article, we’ll show you how to apply winning football strategies to your homebuying journey. Whether you're a first-time buyer or a seasoned veteran, these tips will help you tackle the homebuying process with confidence. So, gear up to take the field and score the home of your dreams! 

Drafting Your Dream Team  

Just like in football, having the right team behind you can make all the difference in your experience, homebuyers. Each member of your team plays a special role, helping you “move the ball down the field” toward your goal: closing on your dream home. Let's break down the key players you'll need on your sideline. 

Lender as Your Offensive Line 

In front of every good quarterback is a strong offensive line, and in homebuying, that’s your lenders and financial advisors. These are the folks in the trenches who protect your financial interests and help you secure the funding you need. Your lender will work with you to get pre-approved, determine how much house you can afford, and lock in the best mortgage rates. Financial advisors, on the other hand, can help you plan for the long term, ensuring that your home purchase fits within your broader financial goals. Put them together and they create a solid foundation, giving you the confidence to move forward without fumbling.  

Real Estate Agent as Your Quarterback 

With the offensive line covered, your real estate agent is like the quarterback of your homebuying team. They read the competition and guide you through each stage of the process, ensuring everything runs smoothly.  

They’ll help you find homes that fit your family’s needs, help you make a competitive offer, and negotiate on your behalf. With the right agent, you’ll have someone who can read the field and adjust the game plan to get you closer to paydirt.  

Home Inspector as Your Defense 

No team is complete without a solid defense, and in your homebuying journey, the home inspector fulfills this critical role. Just as a defense stops the other team from advancing, your home inspector will identify potential issues in a property that could cause problems down the line. From the roof to the foundation, they’ll check every inch of the home to make sure it’s in good condition. By having a thorough inspection, you can avoid costly surprises and ensure that your greatest investment is protected. 

Game Plan: Setting Your Homebuying Goals 

And just like any legendary football team, a solid game plan is essential to achieving your homebuying goals. Knowing what you want and where you stand financially will set the stage for a smooth journey from start to finish. Let’s break down how to create a winning strategy for buying your home. 

Understanding Your Finances  

Before stepping onto the field, you need to know what you're working with financially. Understanding your financial position means taking a good look at your income, savings, debts, and credit score.  

Consider your monthly income, existing expenses, and any potential changes in your financial situation when reviewing your budget. And you can’t just factor in the monthly mortgage payment. Property taxes, insurance, and maintenance costs are other costs you’ll likely face as a homeowner. Knowing your financial limits will help you avoid overstretching yourself and allow you to focus on homes that are within your budget. 

Defining Your Homebuying Criteria 

Once you have a clear understanding of your finances, it’s time to define what you’re looking for in a home. This is where you set your criteria—think of it as deciding what kind of play you want to run. What’s most important to you? Is it the location, the size of the home, the number of bedrooms, or maybe the school district?

We recommend making a list of must-haves and nice-to-haves to guide your search. This will help you stay focused and prevent you from getting distracted by homes that don’t meet your needs. Remember, the clearer your criteria, the easier it will be for your real estate agent to help find properties that match your vision. 

Kickoff the Process with a Pre-Approval 

Getting pre-approved for a mortgage is sort of like the kickoff at the start of a football game—it’s exciting, sets everything in motion, and gets you ready to make your next move. 

When you get pre-approved, your lender will review your financial information, including your income, credit score, and debts. Based on their findings, they’ll give you an estimate of how much they’re willing to lend you. The pre-approval letter tells sellers that you’re not just browsing; you’re ready to make an offer, and you have the financial backing to follow through.

In a competitive market, a pre-approval can give you a significant edge. Sellers are more likely to consider offers from pre-approved buyers because it reduces the risk of the deal falling through. It’s like having a strong opening play that puts you past midfield right from the jump.   

Atlantic Bay’s Game Changing Pre-Approval Process 

Picture this: You're ready to shop for homes, but the competition is fierce, inventory is low, and time is running short. Imagine having a way to stand out to sellers with a pre-approval that shows exactly what you can afford before you even start home shopping. Enter our Fast Track Buyer Advantage program…

Fast Track Buyer Advantage underwriting, or what other lenders might call “To-Be-Determined" or “TBD” underwriting, is when the lender issues you a conditional approval of an exact dollar amount after initial review of your files—no signed purchase contract necessary. 

Because you know the exact amount you can borrow, Fast Track Buyer Advantage also means: 

• You won’t waste time looking at homes outside your budget. 

• Sellers will have confidence in your offer knowing that financing is solid. 

• It’s the next best thing to a cash offer, elevating your offer in a multi-buyer scenario. 

• It gives the seller confidence that your financing is solid. 

• Enjoy a smoother closing process once you find your home because conditions are already addressed. 

• Experience a faster closing process. 

Getting pre-approved at Atlantic Bay is a simple step that can make a big difference. It gives you confidence, clarity, and a competitive edge—everything you need to kick off your homebuying journey on the right foot. 

The Red Zone: Making an Offer 

Once you’ve found your future home, it’s safe to say that you’re in the red zone. Things are pretty serious now, and every move counts. In homebuying, the red zone is all about making your offer. It’s the moment when you go from being a potential buyer to someone who’s ready to close the deal. To ensure you cross the goal line, you’ll need to strategize like a pro. 

Strategizing Your Offer  

Just as head coaches like Bill Belichick or John Madden studied their opponents before making a call, you need to approach your offer with a clear strategy in mind. Start by asking your real estate pro about the market conditions. Is it a buyer’s market where you might have more leverage, or is it a seller’s market with lots of competition? 

Consider the home’s appraised value, how long it’s been on the market, and any other offers that might be on the table. If the home is priced fairly and has a lot of interest, you might want to offer close to the asking price or even above it to stand out. On the other hand, if the home has been on the market for a while, you might have more flexibility to offer less. 

Think about what else you can include in your offer to make it more appealing. Are you able to be flexible on the closing date? Can you put down a larger earnest money deposit? These small details can make a big difference and show the seller that you’re serious and committed. 

Closing in on a Touchdown 

You’ve made it through the homebuying process, and now you’re in the final stretch—closing the deal. This is your touchdown moment, where all your hard work pays off, and you cross the goal line into homeownership. But before you can spike the ball like Gronk and celebrate, there are a few final steps to take. 

Closing Day  

Think of closing day like the final play of the game—a turnover now would be costly. Avoid blunders that can sideline the loan process. In the days/plays leading up to closing, you’ll want to make sure everything is in order. Review the closing disclosure from your lender. This document outlines all the costs associated with your loan, including closing costs. Make sure everything matches up with what you were expecting, and if anything looks off, bring it up with your lender or agent ASAP. 

You’ll also need to do a final walkthrough of the property. This is your chance to make sure the home is in the condition you agreed upon in your contract. Check that any repairs the seller promised have been completed and that everything is as it should be. If there’s a problem, it’s better to address it before closing rather than after you’ve signed the papers. 

Finally, get your funds ready for the down payment and closing costs. You’ll typically need to wire the money or bring a cashier’s check to the closing appointment.  

Expert Tip

Don’t forget to bring your ID and any other required documents to the closing table.

Overtime! Post-Homebuying Considerations 

Once closing is complete, it’s time to celebrate your big win! The keys to your new home are in your hand, and you can finally make it your own. Whether you’re planning to move in right away or take some time to do renovations, this is truly a moment for the record books. 

So, where do you go from here? It’s time to make those extra plays to guarantee your home is a winning investment. Maintain your home as much as possible. Cleaning gutters, servicing your HVAC system, and checking for leaks regularly will keep your home in gameday shape.

And just because you’ve crossed the finish line doesn’t mean you can take your eye off the ball. Keep track of your mortgage payments, property taxes, and insurance premiums, and plan for any increases over time. And don’t forget to meet with your Mortgage Banker this overtime period to keep enjoying the rewards of homeownership long after the final whistle.