Are you considering buying a new home? Maybe you’ve checked out a couple of houses or found a new home you’re already interested in. Don’t rush straight into buying a new home though, as there are a few crucial factors you need to take into consideration before you sign the dotted line and head to your closing. Included in this article are links, to the top real estate experts in their areas – that provide answers to any to most any questions you might have on this subject.
1. Location, Location, Location!!!
Everybody has heard these three words when they decide to look for a new home. Reason why; resale value, appreciation value, schools, neighborhoods, proximity to transportation, shopping, and grocery stores. These are the main things to consider when looking for a new home! Secondly, if you are thinking of retiring – The Right House for You & Your Parents might be a ranch style home.
Purchasing a home requires plenty of research – after all this will be where you live for a large part of your life. Before you dive into buying a new home you need to make sure you understand the process exactly. Here’s the three step process that every buyer should follow. How To Buy A House From Start To Finish – via Jeff Knox
2. Locate and discover
The process of buying a house usually will begin around a year or more before the actual purchase of the home. Most buyers begin their search on the internet, where you can view different homes, neighborhoods, school districts , maps and photos of the homes. For example you can buy a 4 bedroom house in one specific area for the same price as a 1 bedroom flat in another area. You should begin with searching for homes in some of your favorite neighborhoods. Look at the reports on home values and review the statistics. After doing this you should start to piece together a list of priorities to narrow down your search. If you want a big, bright, sunny, family room, you can start by looking at photos online, but you still need to see the house. Looking at Homes Online Versus In Person Via Andrew Fortune
3. Do your homework
You need to do the math and all the homework before rushing into buying a new home. Most people out there need a mortgage in order to buy a home. Luckily, this process has become much easier than it was as we move away from the lending and financial crisis, however it is still challenging for those who aren’t prepared. You need to understand that there are some homes you can afford and some you can’t. different types of loans are available to you and they can affect your home search so you should pull your credit report and make sure you know your financial situation. You can then get pre-approved.
The majority of buyers will need to save more cash, fix their credit score or allow money to for future maintenance and repairs before buying. Therefore you should always use the next couple of months to address financial issues. Know what questions to ask your mortgage lender via Inlanta Mortgage – Madison
4. Have fun
You should at some point interact with a nearby real estate agent as having that expert on your side while searching for a new home can prove to be invaluable. Attend open houses and view as many houses as you possibly can. This will give you the opportunity to see many houses, in different neighborhoods, so that before you make any offers, you should understand the those neighborhoods completely. By looking at more homes you will get a good feel for the local market giving you more confidence when you see your dream home. A great idea is to walk the neighborhood on a weekend or after work to meet some of the neighbors.
Now that you have decided to move, do you have to sell your home too? This can be very scary, especially if the market conditions in your area, have a low inventory of available homes for sale. Many people use zillow and think they are the best source for getting new listings. Did you know, agents pay zillow for leads? Most are new or inexperienced agents who have no client base of their own, so they rely on a particular ‘zip code’ – close to where they live to get leads. ( I know this for fact, because I tried it to see what my competition was). The person you contact when you call on a certain property usually has no knowledge about the home! It is somebody else’s listing … Zillow Estimate Are They Accurate via Bill Gassett
5. Choosing Your Real Estate Agent.
You’ve had the opportunity to meet different agents at open houses, or calling and speaking to a realtor – while your in front of a house, to find the price. What becomes most uncomfortable for most buyers – is the realtor – who insists they can show you that house in 10 minutes. “Just give me your name, phone number, email address and if its not the house you want – I will be happy to find you another one”. This is all good, except, do you want to work with an agent out of the listing office? If they have taken your call while sitting at their ‘scheduled floor time’ to answer buyers questions when a call comes in, consider this; 1. Newer agents take floor time, they don’t have a client base of their own and are hoping to pick up buyers off of the phone. 2. What does that agent ‘Know’ about the property they are going to show you? 3. You might ask, “Let me speak to the listing agent please”, big mistake! Yes he/she may know the property – but they also have a Fiduciary Responsibility to the seller. 4. Often times, you will just say “Thank you, but we just wanted to know the price.” and hang up. If the agent calls you right back, or a few hours later, not a good sign! Why? Because now they have researched the home and neighborhood and have suddenly become an expert – really? What you do want as a buyer is your own representation via Teresa Cowart
6. Research! You have spent all this time finding the perfect neighborhood, possibly the home of your dreams! Now, take a little more time – and research the local realtors. You found your home right? Find a realtor who you can hire, to represent you, as a buyers agent. Why? A buyers agent is someone who will be your representative. They can get you more information, than the listing agent ( who works for the seller) and will do as you ask. For example – a person answering the floor calls, also works for the seller, the listing belongs to their company. Research the agents out there. Go the internet, where you can find a real estate agent who is full time, not, ‘I’ll get my license to sell mom’s house, and maybe I can sell a few in between too’. You want to see what knowledge they have about Social Media, because marketing your home is key! – Do they have a LinkedIn profile? A FB Business page? A Twitter Page?, G+ profile? Do they have their own website? Can you search local properties off their website? Testimonials of people you can actually call? Is there a community page to tell you about the area, local shopping, concerts, upcoming events? Do they have a Blog? Do they write about things you you will need to know, so you can be more informed? Do they reference other top realtors ‘s articles, possibly from other states, who also have extensive knowledge – and share these insights in their Blog with you? Ten Signs You’ve Hired The Wrong Agent via Kyle Hiscock
If you miss the first few homes you try to buy, don’t worry, you’ll only stress yourself out and it’s not that big a deal. This is all part of the home buying process so you should expect to loose a few homes – unless you are a cash buyer. There are plenty homes out there to choose from so don’t feel pressured or rushed into buying a home. Searching for a house is almost like a job on the side and you should have some fun with it. Sit in the neighborhood on weekends, see what kind of activity there is. Does it have a lot of kids, younger families…
Keep in mind that buying a home is a long term investment, More than likely – the most expensive investment you will ever make! The process needs to be taken with caution as you don’t want buyer’s remorse to kick in. Remember that your new home is going to be a huge part of your life. It is where you will spend the majority of your time, so you have to make sure you love the location and the home itself. Don’t jump out at the first house you see and make sure you understand the real estate market in the area before making any offers.
Wendy Weir Real Estate Agent, Relocation Specialist, Birmingham MI 48009
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