It’s the New Year! It’s time to say good bye to the past and resolve to improve your life style. If buying a New Home is at the top of your New Year’s resolution list, here are some Great Tips for Home Buyers:
1. Get Pre-Approved for a loan. Getting pre-approved can keep your deal from going south. Find a mortgage broker that you trust and can communicate with on a one-to-one basis. Getting pre-approved also keeps you realistic about price, puts you more at ease during the process and gives you an edge over the other bidders.
2. Get the right Real Estate Agent. A good agent can relieve some of the stress of house hunting. Get recommendations from friends and co-workers in your area. Interview a couple of agents to find the right chemistry and the knowledge that you need to make a very important decision.
3. Whatever you do, don’t look at too many houses all at once. It is so easy to get confused and overwhelmed. Make a “must-have” list for features that are non-negotiable versus just wants or wishes. Let your broker help you narrow it down.
4. Keep an open mind at all times. Sometimes you might fall in love with a home or a style that your broker has showed you that you would never have dreamed of considering.
5. When you find a home that you like, learn about the neighborhood. A large part of your satisfaction with daily life revolves around the amenities, schools and neighborhood at different times of the day and on the weekend.
6. Never buy without a home inspection. You can’t rely on what you see in a walk-through. Problems hide under carpeting and inside walls and attics. Hire a certified home inspector. Go over the report with them or your agent. Remember, inspectors are going to point out everything they find, that is their job. Let your agent help you determine what you need to ask the seller to fix, but the final decision is yours.
7. If you don’t understand something, speak up. Ideally, your agent and your mortgage broker will have run through the process, but if you don’t understand any part of the paperwork, process or terminologies, Ask Questions.
8. Submit your best offer up front. In markets that are doing relatively well, prime properties often receive multiple offers. There’s no time to haggle.
9. Be prepared to compromise. You don’t always get what you ask for, but if you keep communication open between the you and the seller, odds are good that you end up in a win-win situation.
10. Don’t get emotional. That’s hard to do. Listen to your mortgage broker. Be realistic with your price range and don’t overextend yourself. This purchase is something you have to live with for a long time. Go into your home purchase with the right mental state of mind. Your real estate agent is on your side too.. Let them help you with their knowledge and experience.
Buying a home should not be an ordeal. It should be exciting endeavor and one of the best experiences of your life.
Best Wishes for a Happy New Year in your New Home