8 Home Buying Secrets You Need to Learn Now!

By
Real Estate Agent with RE/MAX Realty Center

Buying a real estate property is one of the most expensive transactions you’ll experience in life.

 

Whether it is your first time or your fifth time to buy a home in Waukesha, you have to ensure that you get the best deal out of your money.

 

Anything more than a hundred thousand dollars needs to be worth it, and to also have good financial returns in case you decide to sell it in the future.

 

To make the best deal and get the most out of your money, you need to have tactics and strategies.

 

Today I’ll be sharing with you eight amazing techniques you can use get the most favorable deals to buy your home.

 

1. Get a pre-approval. Before you do anything else, you first need to know how much you can spend.

 

Find the best mortgage lender and secure a pre-approval so you’ll know exactly how much you can borrow and spend.

 

This way you don’t waste time looking at homes you cannot afford.

 

Sellers love buyers with pre-approvals because it means the buyer can really afford to buy the home.

 

2. Research the neighborhood. It is important to find the right neighborhood when looking for a home. The location may seem like a small detail at first, but it can impact your daily life.

 

Imagine if you buy a beautiful home, but it’s nowhere near your work or your kids’ school. Think of the daily inconvenience, the long drive.

 

That’s why before you go house hunting, the first thing you need to look for is the right neighborhood.

 

Find a community that’s close to your work and good schools. Even if you don’t have kids, find a location near excellent schools because properties in this area sell faster and for a higher price.

 

You should also check if the location is near medical centers, highways, and grocery stores.

 

3. Stick to your budget. Look for a house that’s within your budget range.

 

This way, when you offer, it is within the means of what you can afford.

 

That’s why it is important that you are pre-approved before you even begin looking at homes.

 

When you’ve found one that fits your needs and requirements, make a fair and reasonable offer.

 

Sellers respect buyers who have studied the property and make a good offer.

 

4. Take emotion out of the equation. Did you know that when sellers prepare to sell the home, they stage it so you will have an emotional connection to the house?

 

Now that you know this seller’s trick, don’t fall for the beautiful brick fireplace or lovely interior color. Look at the house objectively and check everything before deciding to buy it.

 

5. Get a home inspection. Whether you are buying a new construction or an existing home, you need to have the property inspected by a home inspector.

 

Why? Because it is for your safety and protection.

 

All homes have issues, even new constructions.

 

It is the job of a home inspector to check if the home passes the safety standard, and if there are things to improve or repair.

 

The result of the home inspection is also a great bargaining tool to use in negotiating the closing price.

 

6. Prepare for sleeper costs. In buying a Waukesha home for sale, consider all the expenses, including the sleeper costs.

 

You don’t just pay for the house, you also pay for the HOA, the property tax, the utilities and more. If you want to make improvements, that’s also part of the sleeper costs.

 

This is also another reason why you should find a home that’s within your means, and in the lower to middle range, if possible. You want to have as much savings so you have money to put into sleeper costs.

 

7. Don’t rely on the real estate market. Some buyers are obsessed with trying to time the real estate market, always watching when the best time to buy a home is.

 

The real estate market is constantly moving, even experts have different opinions on how it is going to move.

 

Buy a house because you need to and you have the money to do it, not because the local real estate market says it is a good time to do so.

 

8. Avoid any major purchases. If you want your pre-approval to go without a hitch, avoid making any major purchase at least six months before you visit the lender.

 

Lenders check your financial capability, so when they see you’ve recently bought a car, they might think this will lessen your capacity to buy a house.

 

It makes you more risky.

 

Since lenders want to minimize the risk in their investments, they may not give you pre-approval for the amount you want to have.

 

Follow these tips and you’ll maximize your budget and get the Waukesha home you want.

 

Ready to buy a home? Call me, Kristin Johnston, at 414-254-6647. Let me help you find the best home for your budget.

 

 

In case you cannot view this video here, please click the link below to view 8 Home Buying Secrets You Need to Know to Learn Now on my YouTube channel: https://www.youtube.com/watch?v=f9CI4HGh-CA&feature=youtu.be

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Topic:
Real Estate Sales and Marketing
Location:
Wisconsin Waukesha County Oconomowoc
Tags:
home buying secrets
waukesha homes for sale
kristin johnston

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Rainmaker
2,189,295
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

What a great blog for first-time home buyers, Kristin.

Have to admit you confused me with "sleeper costs" because I thought maybe you were buying mattresses.

May 25, 2018 06:38 PM #1
Rainmaker
506,933
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Great list. I especially liked the part about timing the market. The only timing that matters is how fast a buyer can be ready to buy.  Ups and downs are temporary, if you are buying a home it's generally for the long run.  

May 25, 2018 07:28 PM #2
Rainmaker
4,431,983
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

This is good advice for home buyers. I hope they will read it

May 26, 2018 02:42 AM #3
Rainmaker
1,404,122
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

This is a great list for home buyers. I had a buyer who bought a very expensive car during the home buying process. Luckily, his mortgage broker was able to help him figure out a way to close anyway, but it was not a given!

May 26, 2018 03:38 AM #4
Rainmaker
3,168,074
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kristin. Even with lots of prepartation, sticking to the budget gets tough! Enjoy your day!

May 26, 2018 04:57 AM #5
Rainmaker
2,974,615
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Kristin... all excellent recommendations for the first time buyer... and some very good ones for the repeat buyer, as well.

May 26, 2018 05:06 AM #6
Rainmaker
3,054,388
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Thank you all for the great comments!

May 26, 2018 07:23 AM #7
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Rainmaker
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Kristin Johnston - REALTOR®

Giving Back With Each Home Sold!
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