Buying a home can be a frightening process, even if you have done it before. The National Association of Realtors has assembled the following list of tips to help ease the process:
1. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
2. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
3. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
4. Choose a home first because you love it; then think about appreciation. A home’s most important role is as a comfortable, safe place to live.
5. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.
7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in your post-home-buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
10. Find a real estate professional who’s simpatico. Home-buying is not only a big financial commitment, but also an emotional one. It’s critical that the practitioner you choose is both skilled and a good fit with your personality.
(adapted from the National Association of Realtors Realtor Magazine Online)
Tennessee Recreational Properties - Jamestown, TN
Real Estate For Trail Riders
Pertaining to Item #5....my observation is that the longer it goes from when they "loved it" to when they make an offer, the greater the chance that they won't. It's discouraging when the buyer won't commit because they are so insecure that they ask too many people for opinions and believe the last person they spoke to. Every time you talk to them, the wind has shifted.
Jul 30, 2009 06:57 AM
Comments(1)