Embarking upon the purchase of a home –whether it’s your
first or your fifth – is an exciting and often stressful time. It’s a big deal no matter what your
situation, and you want to get it right.
While every buyer’s circumstances are unique, there are a few universal
factors that should always be taken into consideration.
Six Tips for Home Buyers
1. Write
down your wants and needs.
Prioritize them, then talk about them.
More often than not, buyers tend to gloss over the motivating factors
behind their move. What starts out as “a
big yard” might really mean “a great space for outdoor entertaining.” Why do you want an open kitchen? Do you entertain a lot? Your home isn’t just a list of criteria; it’s
a reflection, ideally, of your lifestyle.
So make sure you’re really clear on how you want to live, and keep that
in mind as you preview properties.
2.
Identify
your long- and short-term goals.
Thinking of starting a family?
Check out neighborhood schools and, for that matter, your neighborhood. Are there nearby parks? Community events? Don’t be afraid to drive by a prospective
home on a weekend and check out the activity.
If you see families, chat them up and ask what they love about the
neighborhood. If you’re stable in your
professional life, chances are that you’re looking for a home within a
reasonable commuting distance. But if
your career’s up in the air, you may want to consider holding off on the purchase
until you’ve got a better outlook on your future work plans.
3.
Create a
realistic home buying budget and garner prequalification from a reputable
lender. Too many prospective buyers
learn the hard way that they can’t qualify for homes they fall in love
with. A preapproval can make the
difference when sellers are fielding multiple offers, which is the current
trend in marketplaces across the country.
4.
Do your
due diligence. Sure, you could save
money and obtain a pared-down inspection, but the old adage “what you don’t
know won’t kill you” isn’t necessarily true here. I’ve known buyers who discovered post-closing
that their lovely new homes housed asbestos, radon and termites, all issues
that could have been identified with a thorough inspection. Investing the money on a home that’s not
yours may seem like a hassle, but if you’re serious about the property it’s an
important step.
5.
Keep your
eye on the prize. It’s easy – too easy-
to become sidetracked by your wants, needs and goals during the search for your
home. Small details can evolve into colossal
melodramas when emotions get involved.
Go back to those lists and ask yourself how a given property measures
up. If it’s not right for you, keep
looking.
6.
Find a
great real estate agent. Seems
obvious, but time and again buyers and sellers find themselves working with
agents that aren’t the right fit. You
need a professional who is committed to making your process as smooth and
stress-free as possible, an individual whose primary focus isn’t garnering a
commission, but making sure you get what you need. Experience is important, but so is
enthusiasm. Don’t disregard the
potential that a newer agent offers; he or she may go the extra mile to ensure
that you’re thrilled with the process and spread the word among your friends
and family members.
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