02/18/2021
Incase you didn't already know.. buying a home is so much more than knowing how many beds and baths you need. From getting to know a neighborhood, to watching out for "sleeper costs," Let's break down the top 8 best-kept secrets to buying a home so that you can go into the home buying process confident in the process.
โก๏ธ Check out the neighborhood. Before you buy a home, drop by the neighborhood every morning, noon, and night. Many homebuyers think they have found the perfect home, only to find out the neighborhood isn't for them.
โก๏ธ Know how to bid on a home. You don't want to spend more than it is worth but you don't want to offend the seller, either. Your Realtor can help you with this!
โก๏ธ Make sure to inspect the home. Hire a home inspector. It will cost a couple of hundred dollars upfront but could save you thousands in the end.
โก๏ธ Go with your instincts, not your emotions. Going with your instincts means that you recognize that you're getting a great house for a good value. Going with your emotions means you're obsessed with the paint color or the finished basement. It's an investment, don't forget that!
โก๏ธ Be aware of "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 HOA fees. New homeowners also need to be prepared to pay for repairs and maintenance problems that may arise.
โก๏ธ Bigger isn't always better. Have you ever heard the phrase, "Don't buy the biggest, best house on the block." Well, that's because your home is only going to go up in value as much as the other houses around you. This will make resale more challenging if you do decide to move.
โก๏ธ Try not to "time" the market. You should buy when you are ready, your finances are aligned, and you have found the home of your dreams. Those that try to "wait for the perfect time" often miss out on the sale!
โก๏ธ Get pre-approved for your home loan! There's a big difference between a buyer being pre-qualified and pre-approved. Anyone can get pre-qualified for a loan. Getting pre-approved means a lender has looked at all of your financial information, they've let you know how much you can afford, and they are ready to lend it to you.
Ready to start the home buying process? Avoid any costly mistakes by talking to me about my Smart Home Buying Strategy, today! Shoot me a message, I'd love to help!
