ESSENTIAL VENICE HOMEBUYER TIPS
Â Â Â It's easy to see why growing numbers of homebuyers are deciding now is the time to buy, and it's easy to see why they're looking at the fashionable condos for sale and magnificent luxury homes for sale in Venice. Interest rates remain at all-time historic lows. Venice home prices are slowly increasing and the housing inventory is slowly decreasing. Nevertheless, attractive properties are still available in most Venice communities. All the economic indicators are positive, both nationally and locally. With white-sand beaches, year-round sunny weather, boating and golf, and scores of fabulous luxury homes for sale, Venice is the place to be. So whether you're buying a second home, or if you're relocating your family to Venice, retiring, or investing, many of the same rules apply. Try to heed these tips:
Â Â Â 1) Find an Exclusive Buyer Agent (EBA) who's familiar with the area. EBAs focus solely on finding the home for sale that's right for you. An EBA will disclose any matter that could alter a home's price. An EBA explains zoning policies, previews properties for buyers, provides applicable details about the neighborhood, and does whatever it takes to keep the buying process on track. By avoiding the conflicts of interest intrinsic in traditional real estate transactions, EBAs can fully represent your interests.Â Â Â
Â Â Â 2) Certifications and designations are good indicators of professional experience. Find an EBA with the right ones. For example, the Certified International Property Specialist (CIPS) serves the international housing market with knowledge of exchange rates, investment trends, and legal issues. An Accredited Buyer's Representative (ABR) will have exclusive resources and a unique understanding of buyers' needs and how to serve them. A CLHMS (Certified Luxury Home Marketing Specialist) designation indicates experience and special knowledge of luxury housing.Â Â Â
Â Â Â 3) An EBA can help you compare the selling prices of homes in the area. Do it.
Â Â Â 4) Â Decide what you can pay monthly, then use a mortgage calculator to see what your payments will be.
Â Â Â 5) Â Determine what your monthly costs will be, including insurance and taxes, after the purchase. In some areas, insurance and taxes and can virtually double your payment. Don't forget that exemptions and local tax laws might mean a difference between what longtime homeowners pay and what new owners will pay.
Â Â Â
Â Â Â 6) Your EBA can help you determine what the closing costs will be. Again, do this.
Â Â Â 7) Spending over 30% on housing is too much for most people. Check your budget.Â Â Â Â Fannie Mae advises that homebuyers spend not over 28% of income on housing.
Â Â Â 8) Maintaining a home can be costly. Keep the big picture in mind. Surprise repairs, hidden expenses, and other problems can quickly wipe out your resources.
Â Â Â Many potential homebuyers who've been "undecided" are now jumping off the fence and buying in Venice. At True Real Estate, (941-918-1956), we are EBAs who represent homebuyers only, and we offer you the finest service found anywhere. We are Venice experts with years of experience in the Venice market, and we help you through every step of the homebuying process here. Contact us today! Get ahead of the many buying luxury condos, second homes, and solid investment opportunities this season. You'll congratulate yourself in the years to come for getting the home of your dreams in Venice. Call us today.