The Best Secrets to Buying a HomeJuly 20, 2016 / Buying
Aland Realty brokers know how challenging it can be for buyers to begin the home buying process. There are several major things to consider, and we can help you throughout the process. Do you want to know the best secrets to buying a home to get the most out of your money? If yes, you have come to the right place. We have outlined some tips brought to you by HGTV that we think are great:
- Get to know the neighborhood at all hours of the day to make sure you like the feel of the neighborhood. Think about if the home will allow for a doable commute to work each day. Is it close to places you always go to such as grocery stores and other services? Lastly, find out what schools are nearby because they greatly affect the value of your home. A good school can increase the value of your home by 20%.
- Bidding for your home can be tricky. You want to keep in mind two things: what you can afford, and what you think the property is worth. The opening bid should be fair because you don’t want to offend the sellers! Look at the other homes in the area and what they are selling for and what they have sold for.
- Inspect your home thoroughly. Have a third party inspector come out and check your home. It could save you from spending thousands later, and it is a good way to bargain for a lower price when submitting your offer if you find things you would need to fix as well.
- Don’t allow your emotions to take over. Keep in mind your financial situation when finding that dream home. Get the house for a great value rather than getting too excited over the colors or yard. Keep calm and go with your instincts.
- Be aware of the additional costs, and budget for them. These costs could include property taxes, utilities and homeowner-association fees to name a few, on top of the mortgage payment.
- Bigger=Better? Not necessarily! You want to increase the potential of your home when you re-sell your home in the future. Your home will appreciate with the neighborhood, but if you have the biggest house, it has limited growth potential. Think about buying that fixer upper!
- Timing the Market is a myth. It is nearly impossible and you could lose out on a great opportunity. Real estate goes in cycles, so the best time to buy is when you are ready and can afford the investment.
- Survey your property so you know what you are getting. This could save time and disputes later on. It is also a good idea to know how much property you have when considering property taxes.
- A pre-Approval on your loan can help you get your home faster. It also shows the sellers that a lender has looked at your financial situation and has told you what you can afford.
- Don’t make any large purchases around the time you buy your new home. This could hurt your credit profile and you might not be able to get a home loan. Making large purchases can make it difficult to get a loan because lenders want to know you are reliable and you will pay it back.
If you would like to read more or see the full article from HGTV, click here. Contact us today to help you find your dream home or let us answer any questions you may have about the buying process!