With the school year almost finished, many families will start looking to purchase that bigger, newer home. Are you one of them? Did you know that if you set guidelines for yourself, you will be among those homeowners who are happy with their home purchase? This week, I’ll discuss 5 budget tips that can assist you with finding your ‘perfect home’.
1. Know your Price Limit – It is better to get pre-approved for your home loan before you start home searching. Many times, this is a great negotiating tool with home sellers, if they know you are already approved for a certain amount. Make sure that you keep this in mind when looking at homes. You want your home to be a blessing to you and the family – not a curse to your finances.
2. Write your list of MUST HAVES in your new home – With this, write down what items are non-negotiable. How many bedrooms, bathrooms, and minimum square footage? Do you want to live somewhere that has a community pool and clubhouse? Do you want a fenced-in backyard AND a 3-car garage?
3. Communicate with your Real Estate Agent – Make sure that you are honest with your real estate agent. They are going to work diligently to find you the best home for your money. Make sure that they are working in the best interest for you and not for their commission. A home is a big investment, and you need to make sure that the homes you are being shown are within your budget.
4. Do Not Keep Up with the Joneses – Each family has different incomes and expenses. Make sure that you are doing what is best for you and your family. We all want the huge house, but make sure that you are getting a home that falls within the budget. You do not want to get into trouble later on.
5. Look for the houses that no one else wants – Often you can get a great deal on a home that no one else wants. If you have the time to put into a fixer-upper, you can do what you want to the home to make it yours. Many times, homes that have been on the market for a while are either For Sale By Owner (FSBO) or the owner has priced them too high. If you have an experienced real estate agent, often they will be able to negotiate for you.
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Team Tork is all about giving great information and education to the community. If you are in the market to buy your next home, or thinking of selling your home, call me. I have the experience and knowledge to get the job done. Call me directly at 651-379-4138 or 651-210-1038, or if you would rather, send me an email to Joey@TeamTorkRealEstate.com. We have more educational information on our website: www.TeamTorkRealEstate.com.
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