Are you thinking about purchasing a home? Whether you are a first-time home buyer or a seasoned buyer, the process can still be a bit overwhelming. We asked some of our expert buyer's agents for their best home buying advice.
Know your budget-
Getting pre-approved should be one of the first steps you take if you are interested in purchasing a home. It helps you understand exactly how the purchase price of your new home will affect your monthly payment. It also makes you a ready, willing and able buyer.
Know where to buy your next home-
We always tell our buyers to drive through their top 5 communities. Go out in them, eat at the restaurants, go to the bars and hang out there. Just see what things there are to do. Tour them to determine if it is somewhere you can see yourself living. That will help narrow your home search when you start looking.
Know your must-haves and have-nots-
It is important to know your deal breakers, even if everything else about the home is perfect. Overlooking even a single "must-have" because you love the rest of the home can help prioritize what your true deal breakers are. Also knowing basic bed and bath count, approximate square footage and if you want a basement or garage, for example, help broaden your options. While being very specific with must-haves narrows your options.
School district is important (even if you're childless)-
We always tell our buyers to look at the school district they are considering purchasing a home in. Even if having children is not something you're considering for a while, or you don't plan on having any at all, school district is important for resale. We want to make sure that you can sell your home in the future, so thinking about these things before you purchase is important.
Have open communication with your lender-
Maintaining open communication with your lender is important to ensuring a smooth home-buying process. Being able to express concerns about payments and other financial issues will help eliminate any surprises that may arise. It is also important to know what will be needed from you during the process. And remember that no large purchases can be made between an offer being accepted and closing. Ask your agent for recommendations, chances are they have an established relationship with a lender, making the communication process easier.
Use your agent-
Real Estate is one of the few industries where you can ask for services before you plan on paying for them. So use your agent's services to your advantage. Ask them questions about properties that may need some improvements to determine if it's a good buy or not. Photos don't always speak the truth in Real Estate, ask your agent to preview a property for you to determine if it's worth your time. Communicate with them when your needs change, so they can keep an eye on new properties that match your criteria. Having a good relationship with your agent makes the home buying experience smooth and stress-free.
Have more questions or concerns about searching for your next home? Feel free to reach out to us at 248.834.3030. We would be more than happy to help you through the process.