Despite what appears to be a slow housing recovery, real estate professionals nationwide are alerting buyers to keep on their toes through careful preparation. Agents share that we are entering a competitive seller’s market, meaning that buyers will be out in force as yards green up and weather invites exploration and imagination. Without proper preparation, buyers could easily miss out on their favorite properties. I can tell you that there is nothing more disappointing than having a buyer come to me after eyeing up properties on their own for months, only to discover that some of their dream homes are either already off the market or under negotiation.
To help you get prepared, first give me a call at 336-575-7249 and let’s discuss how I can help you find and negotiate the purchase of your next property. Next, take a peek at the following tips for buying a house that will help you get started preparing for the excitement of real estate searches.
Record Your Experiences
- Start by listing the minimum requirements you need for a property to fit your desires. Be realistic and specific. This will automatically allow me to help you narrow down prospects and get you into properties that align with your most basic needs.
- Once on site, actively create a list of pros/cons for each property. Compare the property not only to your original list, but add character and features that strike you as bothersome or delightful too. It gets hard for most buyers to keep features straight in their minds after visiting a variety of properties. This listing will help you to narrow down your prospects and refine your desires. You may even discover elements of desire that you didn’t even realize you desired!
Look At The Big Picture
- Visit the neighborhood at varying times of day to observe traffic patterns and neighbors outside interacting. You are moving into a subculture, make sure it aligns with how you want to live.
- Look beyond the immediate neighborhood and to the local economy and region. Search business journals and local news to understand crime rates, shifts in manufacturing or employment, and areas of growth. Other good indicators are public school ratings and heavy construction areas. Developers do extensive research into pockets of opportunity, even if you don’t care to live in the new community, you can understand where solid research has shown growth to be eminent.
Consider The Math
- It’s easy to get emotionally attached to a particular property and overbid in order to win against a competitive buyer. It’s also easy to let the numbers scare you into refusing to budge when a small investment would be beneficial. For most buyers, their home purchase is the single largest purchase of their lives.
- No matter how many times you have bought and sold, knowing when to walk away and when to invest a few dollars more comes down to great guidance by an experienced real estate agent and stepping back to consider the true impact of your decision. For example, if you lock in a mortgage interest rate of 4.5% for a 30-year mortgage, the difference between paying $195,000 and $200,000 only amounts to around $25 extra per month. That $5000 bump just took on a fresh perspective and allows you to make a decision that is truly right for your needs. (http://www.bankrate.com/finance/real-estate/tips/)
These are just a few tips for buying a house and examples of the types of guidance that I provide to all my clients as they search for their next property. Give me a call today and let’s get started discussing what is on your list of requirements and dreams. With me as your partner, your search and purchase will be a pleasure. Contact me at 336-575-7249. See you real soon!