Buyer Tips
Buying a residence can be a stressful experience. You will experience a roller coaster of emotions while finding the right place, securing your mortgage, and finally moving in - and there's alot that takes place from start to finish. For most of us, the first time home purchase is the largest investment we’ve ever considered and the learning curve can be high. The same holds true when moving up in the market. Moving in and of itself can be a very emotional and personal experience. The emotions and amount of work involved can be overwhelming so it's no wonder we sometimes have a clouded business judgement. Here are a few things to keep in mind.
Imagine the Property Vacant
Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.
Income + Lifestyle = Mortgage Payment
Sit down with your professional Realtor and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.
View Several Homes
Once you start viewing property, you'll begin to get a sense of what's important to you and what you can live without and get a general overall perspective of the home market within your price point.
Utilize Your Team
By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your lender, title rep, and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.
Be a Detective
Check out all costs and expenses before you sign, including utilities, taxes, insurance, maintenance, and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your inspection so you can inspect everything in working order. Ask lots of questions and be very detail conscious.
Plan For Flexibility
Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t Exist
All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.
Loyalty Breeds Loyalty
Be open, honest and up front with your team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a pleasing and memorable experience.
Buying a residence can be a stressful experience. You will experience a roller coaster of emotions while finding the right place, securing your mortgage, and finally moving in - and there's alot that takes place from start to finish. For most of us, the first time home purchase is the largest investment we’ve ever considered and the learning curve can be high. The same holds true when moving up in the market. Moving in and of itself can be a very emotional and personal experience. The emotions and amount of work involved can be overwhelming so it's no wonder we sometimes have a clouded business judgement. Here are a few things to keep in mind.
Imagine the Property Vacant
Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.
Income + Lifestyle = Mortgage Payment
Sit down with your professional Realtor and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.
View Several Homes
Once you start viewing property, you'll begin to get a sense of what's important to you and what you can live without and get a general overall perspective of the home market within your price point.
Utilize Your Team
By aligning yourself with the right real estate professional, you will have an entire team at your disposal. Utilize your lender, title rep, and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.
Be a Detective
Check out all costs and expenses before you sign, including utilities, taxes, insurance, maintenance, and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your inspection so you can inspect everything in working order. Ask lots of questions and be very detail conscious.
Plan For Flexibility
Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t Exist
All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the seller’s written approval on all agreements.
Loyalty Breeds Loyalty
Be open, honest and up front with your team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a pleasing and memorable experience.