5 Home Buyer Tips When Buying A Home.. Looking to buy a home? When purchasing a home it is more than just searching, identifying and writing an offer. There a things you should consider during your search process.Here are five essential tips for making the process as smooth as possible.
5 Home Buyer Tips When Buying A Home
- Home Buyer Find A Mortgage Lender. Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house. Dealing With Financing
2. Home Buyer Tip Find a house you can afford.
As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.
3. Home Buyer Tip Hire a professional.
While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional real estate agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.
4. Home Buyer Tip Do your homework.
Before making a bid, do some research to determine the state of the market at large. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.
5.Home Buyer Tip Think long term.
Obviously, you should not buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire a professional home inspection company, who can point out potential problems that could require costly repairs or replacement in the future.
5 Home Buyer Tips When Buying a Home. Get your financing in order. Contact a direct lender and get pre-approval. Once you have your pre-approval you will know your price range. Look for homes in your price range. The is a lot of real estate information online. Online information cannot replace the expertise required from a professional Realtor®. Hire a professional Realtor® that knows the community and real estate market. Before making a bid, do some research to determine the state of the market at large. Purchasing a home is not a short-term investment. The average homeownership life is seven years. Consider the community’s appreciation, crime rates, schools, shopping areas, recreation, and walkability. Take your time, research and analysis the best real estate options that meet your goals. 5 Home Buyer Tips When Buying a Home. Call an expert Realtor®. Call Gail Mercedes Cole (310) 853-9933
Information deemed reliable but not guaranteed.