3 Tips No One Tells You
- It IS expensive! The better prepared you are financially, the smoother your journey will be.
- Hire a buyer’s agent! They are meant to solely represent you and will help you negotiate the best possible price and terms.
- Buy a home you can afford! Really afford. There are numerous online calculators that can help you calculate just how much home you can afford.
According to the Nation Association of Realtors, “Keep your emotions in check and your eyes on the goal, you’ll pay less when purchasing a home. The real estate agent who represents you can guide you and offer you advice, but you are the one who must make the final decision.
6Tips to Buying a Home
1 Get pre-qualified for a mortgage before you start your home buying search… it tells the sellers that you are capable and serious. It will push you to the head of the pack when sellers are choosing among offers.
2 Ask questions Ask your agent to help you understand the seller’s motivation. Have they already purchased a home? How long has the home been on the market? Or was it just listed, listed previously? Have there been other offers? The more information you have, the more reasonable your offer will be.
3 Determine what you’re willing to pay A too-low bid may offend sellers, a too-high bid and you may spend more than necessary. Work with your agent to evaluate the seller’s motivation. Look at comparable home sales to arrive at an initial reasonable offer that engages the seller.
4 Avoid contingencies Seller’s favor offers that leave little to chance. Stay away from terms such as making the purchase contingent on the sale of your home. Do keep contingencies for mortgage approval and home inspections (those protect you).
5 (Try to) remain unemotional Buying a home is still a business transaction and could be one of the biggest investments in your lifetime. Treating it that way helps you make wise decisions.
6 Don’t let competition change your plan Great homes competitively priced can draw multiple offers in any market. Don’t let competition propel you to go beyond your pre-determined price.
Source: House Logic
