7 Tips to Help You Sail Through the Buying Process!
Most of us buy a home thinking that it will be our “happily ever after” dream home…. studies show us that this is just not the case. Did you know that the average person buys/sells a home every 10 years? This means that you and I will possibly go through this process 3-4 times during our lives! The thought of that may overwhelm you, don’t let it. If you are knowledgeable and have a great support system (e.g. Stacy and Nicole) then you will not only look forward to this process, but you will build future wealth as you do it!
- Call Stacy and Nicole as soon as you start to think about buying – A true real estate professional offers you more benefits than you can imaging. We will navigate you through the entire process in detail. From showing you homes and helping you to compete with multiple offers to finding contractors to help with any needed renovations after the close. We are always available to you before, during and long after the sale has closed.
- Find the right lender– A lender is one of the most important people in your transaction. Your lender should discuss many options with you to estimate the right price range and a payment that you are comfortable with. None of us want to live to pay a mortgage and you don’t have to, there are countless programs for you to choose from and a savvy lender will be able to find the right one for you. If you need help in finding a lender please contact us right away, we only work with the best in the biz!
- Keep your expectations in check- In life and in real estate a lot our frustrations and disappointments evolve from unmanaged expectations. Before you get on the road with your realtor to start looking at potential homes, make a list. Think about things like how long you plan to live in the home, and any life changes that may occur in the future (e.g. children, pets, housing a parent or loved one). Add to that list your must haves and absolutely “do-not-wants”. Always remember that your agent will work hard to find you the home that matches your wish list, but that sometimes we must make small sacrifices and alterations in our way of thinking to make our dreams a reality. Stay focused, trust your agent and work together as a team, this will ensure success!
- Be in control and always read the fine print- Never be afraid to ask questions! KNOWLEDGE IS POWER. This is your transaction and quite possibly the biggest one you will ever have, you are the boss. Make sure that you know the details of the property that your are looking at, does it have an HOA, are there any liens on the property, is it located near a noise nuisance….This is also important to remember with your lender!
- Inspect the home that you are buying- You will always want to hire a licensed home inspector on every property before you close escrow. The inspector is trained to assess the condition of the entire home from top to bottom. This gives you a pretty clear idea of what you are purchasing and gives you the right as the buyer to request any major items of concern to be handled by the seller before closing. Though an inspection may not be able to uncover every potential problem of the home, it will give you a clear idea of whether or not you want to proceed with the sale.
- Investigate the neighborhood- The quality of the neighborhood is the most important factor to about 60% of buyers. Visit the neighborhood often, before, and during the escrow period. Is the home on a busy street, is there a future rock star that lives next door and likes to practice at dinner time, or does the lady across the street belong to a motorcycle gang that likes to gather at her house before the weekend ride? Finding out these types of things are vital to your comfort and happiness.
- Remember to plan for possible renovations and future repairs- Don’t empty your savings account! Work with your lender to find the best program for you that allows you to keep at least 6 months reserves in the bank. You never know what could come up with your home or perhaps your new home needs a little TLC, be prepared.
Please remember that we work with a variety of professionals and are ready to guide you through one of the most exciting times in your life! Do not hesitate, put on that life jacket and jump on board the ship headed straight towards building a bigger and more prosperous future!