1. Find a real estate agent with whom you connect. Home buying is not only a big financial commitment, but also an emotional one. Itâ€™s critical that the REALTORÂ® you choose is both highly skilled and a good fit with your personality.
2. Remember, thereâ€™s no â€œrightâ€ time to buy, just as thereâ€™s no perfect time to sell. If you find a home now, donâ€™t try to second-guess interest rates or the housing market by waiting longer â€” you risk losing out on the home of your dreams. The housing market usually doesnâ€™t change fast enough to make that much difference in price, and a good home wonâ€™t stay on the market long.
3. Donâ€™t ask for too many opinions. Itâ€™s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family â€” the people who will be living in the home.
4. Accept that no house is ever perfect. If itâ€™s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.
5. Donâ€™t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to â€œwinâ€ by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.
6. Remember your home doesnâ€™t exist in a vacuum. Donâ€™t get so caught up in the physical aspects of the house itself â€” room size, kitchen, etc. â€” that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.
7. Plan ahead. Donâ€™t wait until youâ€™ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Donâ€™t leave yourself short and let your home deteriorate.
9. Accept that a little buyerâ€™s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Donâ€™t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a homeâ€™s most important role is to serve as a comfortable, safe place to live.
If you'd like to learn more about how to be a savvy home buyer, please feel free to contact me through my website. http://(www.GoHomeWithMichael.com)
1- Get a good pre-approval up front, before ever looking at homes. There are many issues that can arise that can be flushed out with a good pre-approval.
2- Understand agency relationships. Understanding how an agent is working with you is vitally important. This also means taking the time to find a good buyer's agent.
3- Finding an exceptional home inspector. This is the last line of defense in making the most of your purchase. Don't price shop find the best inspector you can.
Don't be anxious, take the time and get educated and understand the process. Good professionals to help you are the key. Interview, get references and find a good agent, mortgage banker and home inspector.
Some key points-
Understand your agency relationship. Is your agent working for you?
Learn how to use an agents 3rd party MLS and stop bouncing from site to site
Understand fair market value of a home
Beachfront Realty, Inc.
CDPE - Certified Distressed Property Expert
"From the moment we placed our first offer to the day we received our keys, Kenzo was there making sure everything was going smoothly... He made sure to communicate with us every step of the way, especially during the bidding and closing period which can wear on the nerves, but Kenzo kept us informed and calm during the entire process. We feel lucky to have found Kenzo, not just for our first home purchase, but for our future real estate needs. Thank you Kenzo, " Bill & Sheila