So you are ready to make the wonderful decision of choosing a home! Congratulations! Although the process is fun and exciting, it can also carry stress. Below is the best list of tips to remember when you are ready to buy a home. If you have found other great ideas, please feel free to share them with us.
Just remember to be realistic about your timelines, and your goals, as well as your needs versus wants, and that should help too!
10 Things to Take the Trauma Out of Homebuying
1. Find a real estate professional who’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the practitioner you choose is both skilled and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. 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 may lose you the home you love.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, 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.
8. Factor in maintenance and repair costs in your post-homebuying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.
For more tips on homebuying visit www.NicholeFredrickson.com
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag
This post definitely is a true reflection of what goes on when buyers are out looking for a new home. I would have to say that I have experienced just about every one of these issues when dealing with both new and returning buyers! Great Post!
Comment by Cottage Grove Homes for sale — December 16, 2008 @ 9:44 am
Nice post. Buying a house can be a big deal whether it is your first home or 10th! Thanks for all the details.
Comment by Minnesota Investment Real Estate — January 3, 2009 @ 2:44 pm