Let’s face it, buying a home is not easy, and it is even harder when you are new to the process. If you’re thinking about buying your first home, you probably have a lot of questions about the process and what’s involved. The same goes for selling your home if you currently live in one. That being said, realtors work with people that want to buy or sell homes all the time, so they know a lot about this process.
However, their advice might differ slightly from what they share with clients who are thinking about buying or selling a home. In this blog post, we will take a look at the top 8 pieces of advice that realtors should give to their clients if they want to make things easier for them in the future.
1. Know your budget and don’t be afraid to stick to it
A major part of the home-buying process is figuring out how much you can afford. This includes your down payment and the monthly mortgage payment. In fact, the down payment is one of the biggest parts of the home-buying process—and it’s something that most people don’t think about until it’s almost too late.
Similar to the down payment, the monthly mortgage payment is also something that people don’t think about until it’s too late. If you know your budget, then you’ll know how much you can afford for a house. It’s important to stick to this number because you don’t want to get in over your head.
If you can’t afford a certain home, then don’t feel bad about walking away from it. You can always try again with a different one.
2. Hire a realtor you can trust
You probably already know that real estate agents help people buy and sell houses, but you might not know that there are different types of realtors. Hiring a realtor that specializes in the type of home you want to buy will make the process much easier, and it will help you avoid scams.
Realtors make most of their money when they sell the house, and they make a small percentage on the down payment. Therefore, it’s in their best interest to sell you a home that you cannot afford.
3. Find the home that’s right for you
You’re probably going to look at a lot of houses before you find the one that’s right for you. It’s a good idea to have a list of things that you want in your home before you start looking. If you have a clear idea of what you want in your home, you will have a much easier time finding a house that’s right for you.
While you’re looking for houses, make sure that you take your budget into account. If you don’t have a budget, you could end up overspending and making the process much more difficult than it has to be. Find the home that’s right for you, and you’re more likely to be happy with your purchase.
4. stage your home for sale
At some point, you might decide to sell your home. If you want to sell it quickly, you’ll want to stage your home for sale. While staging your home will cost money, the return on investment is well worth the cost. You can hire professionals to stage your home, or you can do it yourself.
We recommend hiring professionals because you want to make sure that your home looks its best.
5. Get your home in tip-top shape
Your home needs to be in tip-top shape before you list it for sale, or it will be much harder to sell. Depending on how old your home is, you might need to replace some things before you put it on the market. If you want to get your home ready to sell as quickly as possible, you’ll want to make as few changes as possible.
When you make too many changes to a home, it can make it very hard to sell. When you make a few small changes, you can list your home immediately. If you want to make a few big changes to your home, make sure you plan far enough ahead to have them finished.
6. Lock in your interest rate ASAP
If you’re buying a home, you might be thinking about getting a mortgage. Mortgages are often sold to investors, which means that the rate you get might change. If you lock in your interest rate before you apply for a mortgage, you’ll know exactly what you’re going to pay for years. If you don’t lock in your interest rate, you could end up paying hundreds more every month.
Making small changes to your mortgage rate can be a good thing if rates rise, but it can be a bad thing if rates fall. If you lock in your interest rate before you apply for a mortgage, you’ll have one less thing to worry about.
7. Don’t forget about the home inspection
When you buy a house, it’s a good idea to have it inspected. The inspector will look at all of the major parts of the house and let you know what needs to be fixed before you buy the house. If you find a major problem with the house, you might be able to get the seller to fix it for you.
An inspection report is usually included in your closing costs, so you don’t have to worry about paying extra for it. If you find a major problem with the house when it gets inspected, you can negotiate with the seller to have it fixed before you buy the house.
8. Don’t be afraid to walk away from a bad deal
Real estate is a competitive business, and it’s not uncommon for buyers and sellers to make lowball offers on properties. If someone makes a lowball offer on the house that you want to buy, you don’t have to accept it.
If the seller isn’t willing to sell the house at a fair price, you can walk away. If you find a house that you want to buy, but the seller is asking for more than it’s worth, don’t be afraid to walk away.
The real estate market is always changing, and buying or selling a home can be stressful. If you follow the advice in this post, you will be much more likely to have a smooth real estate experience.