Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.
Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. Itâ€™s critical that the agent you chose is both highly skilled and a good fit with your personality.
Remember, thereâ€™s no "right" 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.
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.
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.
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.
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.
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.
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.
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.
Choose a home first because you love it; then think about appreciation. While U.S. homes generally appreciate well, a homeâ€™s most important role is to serve as a comfortable, safe place to live.
Fred Yancy, Broker