new-buyers-page-image

10 Best Kept Secrets to Buying a Home

Buying Secret #1:  Use a trusted realtor.

A savvy real estate agent who works with your best interest at heart will protect your interests and guide you through the buying process – from negotiating a price to navigating home inspections.

Buying Secret #2:  Remember that a house purchase involves a contract.

When you’re buying a house, there are papers to sign. And more papers to sign!  Contracts are meant to be negotiated. Your real estate agent will also make sure your needs are reflected in the agreement and that you understand the verbiage.  That’s where a savvy realtor helps. See #1.

Buying Secret #3: You’re Buying a House – Not Dating It

Buying a house based on emotions is just going to break your heart. If you fall in love with something, you might end up making some pretty bad financial decisions. There’s a big difference between your emotions and your instincts. Going with your instincts means that you recognize that you’re getting a great house for a good value. Going with your emotions is being obsessed with the paint color or the backyard. It’s an investment, so stay calm and be wise.

Buying Secret #4: Get Pre-Approved for Your Home Loan

There’s a big difference between a buyer being pre-qualified and a buyer who has a pre-approved mortgage. Anybody can get pre-qualified for a loan. Getting pre-approved means a lender has looked at all of your financial information and they’ve let you know how much you can afford and how much they will lend you. Being pre-approved will save you a lot of time and energy so you are not running around finding homes for sale you can’t afford.

Buying Secret #5: Give Your House a Physical

Would you buy a car without checking under the hood? Of course you wouldn’t, so why would you do that when buying a house?. Hire a home inspector. It’ll cost about $200, but could end up saving you thousands. A home inspector’s sole responsibility is to provide you with information so that you can make a decision as to whether or not to buy. It’s really the only way to get an unbiased third-party opinion.

Buying Secret #7:  Don’t fixate on the purchase price.

The purchase price is just one piece of owning a house: be sure to consider all of the costs associated with your potential new home. That includes the cost of insurance, homeowner association fees and real estate taxes – depending on where you live, those can quickly add up. And it’s not just home improvements that can cost money; maintenance costs dollars, too.

Buying Secret # 8:   Don’t Try to Time the Market

Don’t obsess with trying to time the market and figure out when is the best time to buy. Trying to anticipate the housing market is impossible. The best time to buy is when you find your perfect house and you can afford it. Real estate is cyclical, it goes up and it goes down and it goes back up again. So, if you try to wait for the perfect time, you’re probably going to miss out on the chance to find a home that’s perfect for you.

Buying Secret # 9: Bigger Isn’t Always Better

Everyone’s drawn to the biggest, most beautiful house on the block. But bigger is rarely better when it comes to houses. There’s an old adage in real estate that says don’t buy the biggest, best house on the block. The largest house only appeals to a very small audience and you never want to limit potential buyers when you go to resell.

Buying Secret #10: Stalk the Neighborhood

Before you buy, get the lay of the land – drop by morning, noon, and night. Many homebuyers have become completely distraught because they thought they found the perfect home, only to find out the neighborhood wasn’t for them. Drive by the house at all hours of the day to see what’s happening in the neighborhood.

Most importantly, find a real estate agent you can trust to guide you through the home buying or selling process. Call Jackie Rudolph today and put her home sales expertise to use!