No matter how you slice it, buying real estate is a complicated process that takes time and hard work to get right. Whether you’re looking for your dream home or an investment property to help build your retirement nest egg, here are a few things to keep in mind.
Get your financing in order:
the seller wants to know that if they do accept the offer, that barring catastrophic title issues or inspection issues, the deal is going to go through.
Conduct your own Survey:
Doing a proper survey of the area is very important. . The survey should not only be done in terms of property rates, but also on the basis of the future prospects. Check out what different reports say about the outlook of that area. If the rates are likely to appreciate in the future, your investment is likely to yield good results.
Have questions prepared:
Sellers should be prepared to answer questions regarding how old the roof, heating system, hot water heater, and windows are; and what utilities and homeowner insurance generally cost… If there’s been recent renovation work, buyers should find out of all building permits have been signed off and if all of the contractors and sub-contractors have been paid in full.
Understand your time horizon:
Sometime this is hard, but before buying a new home it’s often crucial to think about how long you might live there and how easy it will be to resell. Consider a place that might be a good investment and if it’s the type of property that’s going to be attractive for the next buyer. A house near train tracks would probably be harder to sell, but for someone who wants to stay longer, a large lot of good nearby school system could make up for it.
You should never buy a property that you don’t love:
If you don’t love it, don’t buy it. Real estate is likely the most expensive and complicated purchase you will ever make. So don’t buy a property if it isn’t a great fit for what you want. Don’t buy if your attitude is “we just want to get something even though this isn’t a perfect property for us.” No property is perfect — especially not at the price you’d like to pay — so be realistic when determining which property you “love.”
If you are interested in looking to purchase real estate or investing in real estate I can help you make the best decisions for you and your family, whether it's looking to purchase or sell, invest or rent. I’m Debbie Nieman and here to help. As a Phoenix Real Estate Agent for 8 years I can assist you with all your Arizona Real Estate needs.
Debbie Nieman
Keller Williams Sonoran Living
602-799-5239www.diverdebirealty.comFree Mobile App Your Referrals are always appreciated!
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