Buyer Resources: 7 Great Tips for Buying Your Next Home
Are you currently considering buying a home on the local real estate market? If so, then you’ve come to the right place!
We have been working with buyers just like you for several years and, during that time, we’ve created a list of those top tips we believe will help our clients be successful as home buyers.
So without further ado, we’d like to share with your our 7 best tips for buying your next home.
Best Strategies For When You’re Buying a Home
Get Pre-Approved for Your Home Loan. This is must better than a pre-qualification because it signals that a lender has already looked at your financial information and decided how much they think you can afford and how much they’d be willing to lend to you. This will not only save you time and energy in the long run, but it will also help you appear more attractive to home sellers.
Don’t obsess about timing the market. Regardless of whether you entered the market last month or you’re planning on waiting another month to enter the market, you can feel pretty sure that you’re close to historically low prices. In other words: You’re going to get a great deal on a property! Thus, instead of focusing on timing the market, concentrate on buying the best house possible for you.
Consider Sleeper Costs and Then Avoid Them! One of the major differences between renting and owning a home is the sleeper costs. That’s because while most people focus on their mortgage payment, there also happen to be a number of other costs associated with home ownership, including property taxes, utilities and homeowner association dues. You’ll also need to factor in the costs associated with repairs, maintenance and potential property tax increases.
Remember That Buying a Home Is Often a Long Term Investment. In other words, you want to be practical about which house you ultimately decide to purchase. Of course, we understand that’s easier said than done, given that home buying is such an emotional process. But the more you can think logically about whether a home is the right fit for you (and not just let your emotions run the show), the better off you’ll be in the long run.
Make Sure To Inspect Your New Home Thoroughly. After all, you can’t just take the home at face value! You need to ensure that the home’s condition is what you think it is, both on the inside and outside. Thus, you’ll want to hire a home inspector to learn about the condition of the attic, the roof, the plumbing, and everything else in the house BEFORE you attend the closing. Trust us – you don’t want to purchase a home blindly.
Get to Know the Neighborhood Before the Final Closing. And get to know it at various times of the day too. After all, this is going to be your home for an indefinite amount of time. Thus, you want to make sure you feel at home – not just in the house itself, but also in the surrounding area. So drive around the neighborhood at various times of the day and get a feel for the community. And then you’ll have the information you need to decide if the community is a right fit for you.
Understand that Home Bidding is Both an Art and a Science. It truly does require a certain amount of finesse. After all, lowball an offer and you might get turned down immediately. Offer too much money upfront and you’re missing out on the opportunity to turn a nice profit when you sell the home down the road. Luckily, you don’t have to face a home bidding alone. An expert REALTOR can help you navigate this difficult and stressful part of home buying.
Contact Us for More Valuable Home Buying Assistance!
Please connect with us now if you’re interested in taking that next step toward purchasing your own home for sale in the area. We’d be happy to assist you by answering any questions you might have as well as providing you with available resources!