FIRST-TIME HOMEBUYERS: STEP THREE
This agent has provided several steps as suggestions to first-time home buyers that are excellent. I think it is important for new home buyers to understand the formula for success, and these three blogs do a great job. I'm sure she'll have more, which I will repost as well for my blog followers.
Step Three: The Search.
The Search is the fun part of the home-buying process -- It's like an Easter Egg hunt! Actually, it's more like dating. (I wrote a blog on how buyers are looking for love, which might give you some insight into the emotional aspects of buying a home.)
However, there are a LOT of potential matches to choose from. There are thousands and thousands of homes on the market, and more being listed every day. It's easy to become overwhelmed by the number of choices that you have. (Check out my blog on The Tyranny of Choice, a very real phenomenon.)
Only a handful of those thousands of available homes will suit you, and those are the only ones we want to look at. First, think through your wants and needs. Then put your list in writing, send it to me, and we'll go over it together. If you are clear about what you are looking for, all the homes we visit should be a good possibility for you.
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Dianne's Theory of Real Estate: Buyers will choose a home based on the following Five Dimensions.
I. PRICE -- A lender will help you determine what you can afford, and what you're comfortable with as a monthly payment. (That's why Talk to a Lender is Step One).
II. LOCATION -- What part of the Triangle feels like home? How far are you willing to commute to work? Where are your doctors, your place of worship, your daycare, your friends?
III. FEATURES-- Do you have to have a garage? If so, will one-car do or only two-car? Should the master bedroom be up down? Do you like open, flowing floorplans or a more traditional division of rooms? How much yard do you want? What will it be used for? Other criteria?
IV. CONDITION -- How much work are you willing to do? Do you love the process of customizing your home? Or do you work hard at work and hate the idea of facing more work at home? Be honest with yourself and your partner! A fixer-upper can be a great deal, but it's not for everyone. And last but not least -- the wild card!
V. CHARM -- Charm is the Wild Card! To get charm, people will compromise the first four Dimensions. They will pay more, drive farther, let go of a feature, or accept a home that comes with a to-do list. Charm is worth money, but beware the charm of newness -- that's the one very powerful charm that you won't be able to convey to the next buyer.
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Price and Location limit the inventory we're going to consider. Coming up with Features may take some soul-searching. When it comes to Condition, be honest with yourself about what you can handle, in terms of personal obligation as well as financial obligation.
If you are choosing a home as a couple, it is crucial that you work on your list together, and either agree or compromise. If one of you absolutely, positively has to have a garage, there is no reason to look at houses without garages.
Most buyers are looking online throughout this process. Register at Dianne.RaleighCaryRealty.com. You can set up a search that will automatically email you every time a listing matches your criteria. Not all features are searchable, but the most common ones are.
Once you have your list, we're ready to go out and look at homes for sale. If you have done your homework and put together a specific list of your wants and needs, it won't take long at all to find your new home!
Helping nice people to buy and sell homes in the Raleigh Triangle area since 1997.
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