Home buying can be stressful, but the agents at Park Place Homes are here to help! Here are 10 tips to keep you on the home buying path.
1. The pre-approval; every blog, every realtor, every home buying post will tell you, get pre-approved before you start your home search. Not only will getting a pre-approval help determine the price range for your home search, it will also strengthen any offers you make.
2. Be financially responsible. Once you get a pre-approval, understand that changes in your financial situation, including changing jobs or incurring new debt, could negate your pre-approval. In order to keep the home buying process rolling smoothly, work closely with your lender to make good decisions that won’t affect your ability to get a loan.
3. Don’t wait on the market. The real estate market can fluctuate. The perfect time to buy a home is when you find the house you love and can afford.
4. Bigger isn’t always better. The goal is to find a house that fits your needs and is in your price range. The biggest or ‘nicest’ house on the block could be tough to re-sell when the time comes.
5. Try to be wise, not emotional. Falling in love with paint, carpet, and flooring is great, but all of those things can be changed. Make sure to consider the things that are more expensive or impossible to change, like the floor plan or location. Be logical and remember that buying a home is a huge investment and you want to make the best decision.
6. Property lines. Make sure the property is surveyed or you at least have a thorough understanding of the property lines. This can help alleviate future disputes and ensure that you know exactly what you are purchasing.
7. Careful Bidding. There are many negotiating styles and strategies. Your Park Place Homes Realtor can help you structure an offer to get you the best possible deal on the home of your dreams.
8. Get a feel for the neighborhood. Drive around the area at different times and have a talk with the neighbors. It’s important to find a neighborhood you are comfortable with and location will be important when it comes to resale.
9. Get an inspection. You wouldn’t buy a car without knowing it runs, right? A home inspection is the same thing. You want to know the ins and outs of your new home and make sure everything is working properly. A quality home inspection is a small price to pay for peace of mind.
10. Budget for other costs. Remember the mortgage payment is only one of the costs associated with buying a home. Depending on the situation, there could be homeowner association dues, prorated expenses or maintenance costs when you first purchase. Budget accordingly and ask questions of your Realtor and lender to be most prepared.