1. Know what you want
A real estate agent cannot read your mind, and if he does not know what he wants, he will spend a lot of time looking at houses that do not match his needs. However, if you are specific about your requirements and can provide you with a small address, an agent can be of great help in finding the best home for your family.
Things to keep in mind include:
- Number of bedrooms and bathrooms
- One level or multilevel
- Exterior type (wood, brick or vinyl)
- Noise level in the community
- Practicality of the plane
- Desired square quantity
- Type of home (condo, townhouse, or single-family home)
- Distance from places of worship
- Distance to shops and highways
- Distance to work
- The age of the home
- Amount of maintenance required
- School districts
2. be flexible
If you have a detailed checklist of exactly what you want in your perfect home, know now that a perfect home simply doesn’t exist, unless you have the money to design and build it from scratch. Learn to be flexible don’t compromise on the most important requirements, but understand that you are unlikely to find that original copy of the one you envisioned.
Prioritize your wants and determine what features you can live without. Let’s say you want a home with a huge master bathroom, a remodeled kitchen, an upstairs laundry room, four bedrooms with NorthShield windows and doors, a stunning hallway, and a pool. Well, you probably won’t find it, but that doesn’t mean you can’t find a house with most of the items on your list. Decide what is most important to you and your family, and be reasonable about their requirements.
3. Get pre-approved for a home loan
Financing a property can cause some serious headaches. You may feel that qualifying for a home loan shouldn’t be too difficult, but after a careful review of your credit and income, a lender may think otherwise. It is always advantageous to get pre-approved for a mortgage before bidding on the houses. If you fell in love with a property only to find out that you are not eligible for financing, it could leave you feeling sour. Save yourself a ton of heartache and stress by putting all the financial pieces in place right out of the box. Additionally, some sellers and agents choose wisely to work only with buyers who have been pre-approved by a mortgage lender.
4. Listen to your real estate agent
Sure, you can educate yourself on the buying process, but unless you have real estate experience, your real estate agent likely knows a lot more than you do. You chose this person to help you find a home, so it makes sense for you to listen to their advice. In other words, once you provide the destination, let your agent help you get there.
If, for example, your real estate agent recommends adding certain contingencies (conditions that must be met before the sale is finalized) to an offer, such as a requirement that the seller makes a certain repair or that the home meet a satisfactory home inspection, heed the advice; it can save you a lot of money, work, and stress. Additionally, your agent may discourage a low ball offer, knowing that this could potentially offend a buyer and ruin your chances of obtaining the property. Instead of fighting your agent, trust that he or she knows the industry. Remember, agents, don’t charge until a sale is closed, so they have no reason to sabotage a deal.
5. Save enough money
This is by far one of the most expensive transactions you will ever make, so make sure you understand the cost of buying a home before you jump. You are financing a large sum of money, and due to closing costs and other mortgage-related expenses such as cash deposits, home appraisals, and home inspections, if you run out of money at half price, it is possible.