HOW TO FIND A HOME QUICKLY AND SAVE A MINIMUM OF $7500, TOP 10 BUYING TIPS GIVES BUYERS A STEP BY STEP PLAN.
Below are the Top 10 Buying Tips that have help our Clients find a home quicker and save a minimum of $7,500! After years of studying how Buyers go about looking for a home, we concluded that these Top 10 Buying Tips are the most powerful tips a Buyer can use.
Our studies also concluded that if a Buyer only used 50% of the Top 10 Buying Tips, they would still find a great home and save money.
Buying Secret #1… Explore and Revisit Neighborhoods
Before you buy, get to know a few neighborhoods you want to live in – go onto GoogleMaps and see what surrounds the neighborhoods you are considering. Then take a drive through each of the neighborhoods to see if it is a place you want to call “home”. Many home buyers have become completely distraught because they thought they found the perfect home, only to find they didn’t like the neighborhood. Do a Work Commute Drive to and from the house to your place of work, is it something you can deal with everyday? Locate the nearest grocery stores, churches and other community places. Even if you don’t have kids, research the schools districts because it will affect the value of your home in a very big way, sometimes up to 10-20 percent more on a resale.
Buying Secret #2…Get The Right Agent
An experienced Realtor will relieve some of the stress you have about finding a house. Get recommendations from friends and co-workers you know; then interview a couple of agents to find the right chemistry and look at the number of Buyer controlled sales versus Seller controlled for the past few years. This will give you an idea if they work “great” with Buyers or not! In addition, you may want to work with a Realtor who has a successful Top Producing “Team” versus One Person Teams. Remember no one can do everything, so something might not get done on time and calls might not be returned in a timely manner. Also, ask to meet the Team members because once you put a deal together you will be working with the members too! Most importantly, once you have found somebody you like, make sure they are willing to communicate with you in the form you want (email, phone, text, etc.) and as often as you want.
Buying Secret #3…Get Pre-Approved For Your Home Loan
There’s a big difference between a buyer being pre-qualified and a buyer with a pre-approval. Anybody can get pre-qualified for a loan. Getting pre-approved means a lender has looked at all of your financial information and they’ve let you know how much you can afford and how much they will lend you. Being pre-approved will save you a lot of time and money so you are not running around looking at houses you can’t afford. It also gives you the opportunity to shop around for the best deal and the best interest rates; however, ask your Realtor for the names of their “Preferred Partners” so you can talk to them as well. Do your research: Learn about junk fees, processing fees or points and make sure there aren’t any hidden costs in the loan.
Buying Secret #4…Don’t Look At Too Many Homes
It’s easy to get overwhelmed and confused if you look at too many homes or seek too many opinions from friends and family. Make a “must have” list with your immediate family for the features that are non-negotiable, versus just “wants” or “wishes”. You should also get input from your Realtor to help you narrow down the field of what you can or cannot afford in your price range. There’s a lot of inventory out there, and you can’t or shouldn’t see it all.
Buying Secret #5…If You Don’t Understand Something, Speak Up
Ideally, your Realtor should have given you a “home buying process document” which details the buying process and what to expect at the outset of your search. But if you don’t understand any part of the paperwork, process or terminology, ask questions. So many Buyers whiz through paperwork without understanding what they are signing which could come back to haunt you.
Buying Secret # 6…Don’t Try To Time The Market
Don’t obsess with trying to time the market and figure out when is the best time to buy. Trying to anticipate the housing market is impossible. The best time to buy is when you find your perfect house and you can afford it. Real estate is cyclical, it goes up, it goes down and it goes back up again. So, if you try to wait for the perfect time, you’re miss your opportunity to buy a great home!
Buying Secret #7….Submit Your Highest And Best Offer Upfront
In markets that are doing relatively well, prime properties often receive multiple offers. “There’s no time to haggle with the Seller, the best thing to do is make sure it’s a realistic offer and submit it with a list of comparable sales to support it.
Buying Secret #8…Be Prepared To Compromise
To come up with the winning offer, you might have to tailor it to a seller’s needs, such as a longer or shorter closing date. Don’t expect sellers to consent to repairs that amount to upgrades or remodels, but don’t lose a house you love over something small like carpet, appliances or counter tops. It’s not these things that will make or break your experience in a house, it’s the big things such as layout, size and location that will add value to your new home.
Buying Secret #9…Always Inspect Your New Home
You wouldn’t buy a car without checking everything about it before your purchased it would you? Of course not, so be prepared to hire a home inspector. The cost of a home inspection should cost you from $300-$600, but could end up saving you thousands in the long run. A home inspector’s sole responsibility is to provide you with information so that you can make a decision as to whether or not to buy. It’s really the only way to get an unbiased third-party opinion. If the inspector does find any issues with the home, you can use it as a bargaining tool for lowering the price of the home. It’s better to spend the money up front on an inspector than to find out later you have to spend a fortune.
Buying Secret #10…Avoid Sleeper Costs
The difference between renting and home ownership is the sleeper costs. Most people just focus on their mortgage payment, but they also need to be aware of the other expenses such as property taxes, utilities and homeowner-association (HOA) dues. New homeowners also need to be prepared to pay for repairs, maintenance and potential property-tax increases. Make sure you budget for sleeper costs so you’ll be covered and won’t risk losing your house.
By following some of these Top 10 Buying Tips, it should help you to NOT get emotional or caught up in the excitement and tension of finding and bidding on a home. It should also help you determined price range and keep you focused on how much you can afford no matter how much you love a house. The most important piece of advice I can give you is “Be realistic with your price range, don’t overextend yourself, and be comfortable with everyone in your transaction”.
Should you have any questions, call the SAYHAY Team at 412-303-3600 OR 724-933-8508 or email us at email@example.com.