Buying A Home

Buying a home is one of the most fun and exciting times of your life.  However, it can be stressful.  Here are some tips to help you make the process as peaceful as possible.

  • Find a real estate agent who you connect with – Home buying is not only a big financial commitment, but also an emotional one.  It’s critical that the agent you choose is both highly skilled and a good fit your personality.  Remember, this is a fun time!
  • There’s no “right” time to buy, just as there’s no perfect time to sell – If you find a home you love, don’t have the mentality that you think interest rates will drop more.  That could backfire on you and they could rise.  The same goes with the housing market and prices.  If you wait for them to go down more, they could very well go up.  The longer you wait, you risk losing the home of your dreams.  The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.
  • Don’t ask for too many opinions – It’s natural to want reassurance when making such a big decision.  However, having too many ideas from too many people will make it much harder to make a decision at all.  Focus on the wants and needs of the people that will occupy the home with you.
  • Accept that no house is ever perfect – If it’s in the right location, perhaps the yard is a bit smaller than you had hoped.  The kitchen may be perfect, but the roof needs repair.  Paint colors can be changed as can room set-ups.  Make a list of your top priorities and focus in on things that are most important to you.  Let the minor ones go.
  • Don’t try to be a killer negotiator – Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price, submitting “low ball” offers or by refusing to budge on your offer may cost you the home you love.  Negotiation is a give and take.
  • Remember you home doesn’t exist in a vacuum – Don’t get so caught up in the physical aspects of the house itself – room size, kitchen, etc.  – that you forget about important issues such as noise level, location to amenities, proximity to jobs and other aspects that also have a big impact on your quality of life.
  • Plan ahead – Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance needs and consider a schedule for moving.  Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.  Get pre-qualified ahead of time, so when you do find the house you love, you’ll know if you can afford it.

Choose a home first because you love it; then think about appreciation – While homes appreciate as well as depreciate, a homes’ most important role is to serve as a comfortable, safe place to live.

Follow this link to view a helpful graph displaying the process of the Steps In Buying A Home.