Stabilizing
home prices, low interest rates, increased sales, and declining inventory are
creating favorable conditions in many markets. Get tips for being a smart home
buyer or seller.
8 Tips For Finding Your New Home
House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart home buying process.
1. Know Your Preferences
Understand
the type of home that suits your personality. Do you prefer a new or existing
home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are
you truly handy, or will you need to budget for contractors?
2. Research
before you look
List the
features you most want in a home and identify which are necessities and which
are extras. Identify three to four neighborhoods you’d like to live in based on
commute time, schools, recreation, crime, and price. Then hop onto www.DistinctiveArizonaRealEstate.com to get a feel for the homes available in your price range in your favorite
neighborhoods. Use the results to prioritize your wants and needs so you can
add in and weed out properties from the inventory you’d like to view.
3. Get your
finances in order
Generally,
lenders say you can afford a home priced two to three times your gross income.
Create a budget so you know how much you’re comfortable spending each month on
housing. Don’t wait until you’ve found a home and made an offer to investigate
financing.
Gather your
financial records and meet with a lender to get a prequalification letter
spelling out how much you’re eligible to borrow. The lender won’t necessarily
consider the extra fees you’ll pay when you purchase or your plans to begin a
family or purchase a new car, so shop in a price range you’re comfortable with.
Also, presenting an offer contingent on financing will make your bid less
attractive to sellers. What Can You Afford? http://www.distinctivearizonarealestate.com/pages/powerful-mortgage-calculators-765683
4. Set a
moving timeline
Do you have
blemishes on your credit that will take time to clear up? If you already own,
have you sold your current home? If not, you’ll need to factor in the time
needed to sell. If you rent, when is your lease up? Do you expect interest
rates to jump anytime soon? All these factors will affect your buying, closing,
and moving timelines.
5. Think
long term
Your future
plans may dictate the type of home you’ll buy. Are you looking for a starter
house with plans to move up in a few years, or do you hope to stay in the home
for five to 10 years? With a starter, you may need to adjust your expectations.
If you plan to nest, be sure your priority list helps you identify a home
you’ll still love years from now.
6. Work with
a Laura Ters, REALTOR®
Ask people
you trust for referrals to a real estate professional they trust. Interview
agents to determine which have expertise in the neighborhoods and type of homes
you’re interested in. Because home buying triggers many emotions, consider
whether an agent’s style meshes with your personality.
Also ask if
the agent specializes in buyer representation. Unlike listing agents, whose
first duty is to the seller, buyers’ reps work only for you even though they’re
typically paid by the seller.
7. Be
realistic
It’s OK to
be picky about the home and neighborhood you want, but don’t be close-minded,
unrealistic, or blinded by minor imperfections. If you insist on living in a
cul-de-sac, you may miss out on great homes on streets that are just as quiet
and secluded.
On the flip
side, don’t be so swayed by a “wow” feature that you forget about other
issues—like noise levels—that can have a big impact on your quality of life.
Use your priority list to evaluate each property, remembering there’s no such
thing as the perfect home.
8. Limit the
opinions you solicit
It’s natural to seek reassurance when making a
big financial decision. But you know that saying about too many cooks in the
kitchen. If you need a second opinion, select one or two people. Remain
true to your list of wants.
Call Laura Ters, Realtor at 480-353-9496 For More Information or To Schedule Time
To View Homes in The Southeast Valley, Phoenix, Gilbert, Mesa,
Tempe, & Ahwatukee, Arizona.
To View Homes in The Southeast Valley, Phoenix, Gilbert, Mesa,
Tempe, & Ahwatukee, Arizona.
courtesy reprinted article Houselogic.com
No comments:
Post a Comment