buying a home in edmond ok

Edmond in Oklahoma is an ideal location for raising families. Its public schools boast test scores above the national average and the University of Central Oklahoma is just minutes away.

Edmond is home to an abundance of new home communities offering new construction homes for sale, offering outdoor activities at Arcadia Lake or shopping at Quail Springs Mall – there’s sure to be something to please every member of the family in Edmond.

1. Know Your Budget

Before making your move to Edmond, it’s essential that you have an accurate grasp on your budget. Knowing how much money you have available to you will make finding your ideal home easier; Edmond offers everything from luxury mansions to modest single-family dwellings.

Edmond is situated in north central Oklahoma County, immediately north of Oklahoma City. Edmond is renowned as an idyllic community and regularly ranks among America’s best places to reside, offering numerous parks, outdoor dining spots, and events for residents to enjoy.

Edmond is an ideal location for families to settle down, boasting a cost of living that falls well below the national average and offering top-rated schools – perfect for raising a child or two in an ideal community environment. Families looking for their dream home often opt for Edmond as they make their search.

Edmond is home to two universities in Oklahoma – University of Central Oklahoma and Oklahoma Christian University. This attracts college students, making the community more lively. Edmond also boasts several employers such as Love’s Travel Stops & Country Stores, Hertz, OGE and American Fidelity that support its vibrant environment.

Alongside its employers and schools, the area boasts a vibrant cultural life as well. Home to numerous restaurants and shops–such as Five Guys–this city also features public art in the form of sculptures and paintings located throughout.

Edmond has something to offer everyone – be they golf enthusiasts or simply shopping enthusiasts alike. Offering 33 parks, 47 miles of trails and over 300 pieces of public art to explore outdoorsy types alike.

Edmond has a subtropical climate with mild winters and warm summers. Additionally, Tornado Alley lies nearby so severe storms aren’t unusual in Edmond.

2. Find a Real Estate Agent

If you are planning to purchase real estate in Edmond, Oklahoma, it’s essential that you find an agent with ample experience. A knowledgeable real estate agent will make your process less painful while getting you the best price on your home and financing solutions. Finding an agent with knowledge about local markets will ensure an effortless journey and result in less anxiety when making this significant financial commitment.

Edmond’s real estate market is experiencing rapid expansion. Attractive features of Edmond include its affordable housing options, great schools and amenities that attract buyers as well as its strong sense of community fostered over generations by residents living here.

According to data from the 2022 American Community Survey, Edmond has an estimated total of 37,868 housing units – this figure includes single-family homes, apartment communities, mobile home parks and other living arrangements – making up more housing units than in Oklahoma City on average.

Regarding home prices, Edmond’s average cost of house is approximately 215,000 dollars; median rent for one-bedroom apartments averages 800 dollars monthly; while in Oklahoma City metro the single family home costs are roughly 150,000 dollars.

Edmond currently boasts a sales-to-list ratio of approximately one percent, which indicates that homes are selling for close to what was listed for. This indicates a balanced market. Unfortunately, median days on market in Edmond has increased since last year.

When searching for a real estate agent, make sure they have an established track record in your desired neighborhood. Reviews on websites like Zillow can provide valuable insight. Also visit an agent’s website to view past listings and sales transactions as well as membership in National Association of Realtors(r). Having this assurance of up-to-date market intelligence ensures your agent will have all the latest knowledge.

3. Set Up Your Home Inspection

An inspection is usually the next step after accepting an offer on a house, and should never be skipped because of tight deadlines to close on it quickly. Your home inspector should inspect every inch of the property to identify potential major problems that could cost you big in future repairs; so take this opportunity seriously to spot potential financial hazards before closing quickly on it!

Home inspectors provide more than just structural and condition assessments; they’ll also look out for things such as sagging roofs, cracked foundations, plumbing leaks and electrical issues. If any concerns arise during an inspection visit, don’t forget to share them with your real estate agent; they may be able to negotiate on your behalf with the seller and get necessary repairs done prior to closing.

If you are unfamiliar with home inspections, it’s a good idea to seek recommendations from family and friends or read online reviews and ratings. The American Society of Home Inspectors also has a “Find an Inspector” tool which allows users to easily locate qualified professionals near them. Furthermore, check the inspector’s website to make sure they adhere to an ethical code and certification status.

Ideal, you should attend your own inspection in order to maximize learning from the home inspector and gain as much information about any potential issues or their severity, which may come in handy when it comes time for negotiations with sellers. If this isn’t possible, make sure you request written reports as soon as possible from your inspector.

If the home inspector uncovers major defects with your target home, you might reconsider buying it. But if it’s something minor and easily fixed, don’t be put off proceeding. If unsure, ask for credit from seller as reimbursement of repair costs.

4. Make an Offer

Once you find a home that suits both your needs and budget, you must submit an offer. Your real estate agent can assist in writing a compelling offer that gives you the highest chance of securing it; negotiate with seller to secure terms in writing; once reached agreement on, submit signed contract to complete transaction.

Closing costs: Closing costs can include mortgage insurance, title search fees, appraisal fees and real estate attorney fees; they typically make up 3-5% of the purchase price of a home. In addition, buyers may need to pay additional costs related to radon testing and pest inspection.

If you plan on financing your home using a traditional mortgage, a 20% down payment or higher is typically required as well as mortgage insurance of at least 1% of loan amount each year – this can cost hundreds every month. But using a VA loan allows you to avoid these additional expenses altogether.

VA loans are tailored specifically for military members and their spouses who wish to purchase homes in Edmond ok, making them especially appealing among retirees who value its affordable housing, family-oriented parks, and top-rated schools. When seeking out VA loans it’s essential that you work with a licensed lender.

Edmond is an ideal location for young families, retirees and singles of all kinds alike, thanks to its low crime rate, affordable cost of living and proximity to Oklahoma City. Additionally, it is home to beautiful parks, upscale dining experiences and plenty of shopping choices making Edmond an attractive homebuyer destination.

Are You Ready to Begin the Homebuying Journey in Edmond, Oklahoma? Reach Out Now