Francine Jeffers C.B.R., S.R.E.S.,A.S.P.'s Blog
The definition of a "dream house" varies from homebuyer to homebuyer. Fortunately, there are many things you can do to determine if a residence is right for you.
Now, let's take a look at three tips to help you evaluate a home so you can decide whether to proceed with an offer to purchase.
1. Review a Home's Features
Think about why you are searching for a home and what you want to find in a house. For example, if you require a home that features a deluxe kitchen, you can narrow your house search accordingly. On the other hand, if you want a home that boasts an above-ground swimming pool, you can focus on houses that offer this amenity.
Consider where you want to reside too. That way, you can hone your home search to a select group of cities and towns and find a residence that is located in one of your preferred locations.
2. Examine a Home's Price
The cost of a home depends on a number of factors, including the residence's age and condition. Of course, the housing market itself plays an important role in a house's cost as well, so you'll want to examine the real estate sector closely. By doing so, you can differentiate a buyer's market from a seller's market – or vice-versa – and determine if a home's price falls within your budget.
In a buyer's market, there may be an abundance of quality houses available at budget-friendly prices. If you shop for a home in a buyer's market, you may be able to purchase a house at or below a seller's initial asking price.
Comparatively, in a seller's market, there is a shortage of premium houses, and top-notch homes that become available may be in high demand. In a seller's market, you may need to act fast to acquire your dream home. Plus, you may need to submit an offer to purchase that exceeds a seller's initial asking price so you can purchase your ideal residence without delay.
3. Consult with a Real Estate Agent
A real estate agent is a home selling expert, and he or she is happy to help you weigh the pros and cons of buying a house. In fact, a real estate agent will go the extra mile to ensure you can make the best-possible decisions throughout the property buying journey.
With a real estate agent at your side, you can receive lots of support so you can enjoy a seamless homebuying experience. A real estate agent first will learn about you and your homebuying goals and help you search for a residence that matches your expectations. Next, a real estate agent will help you craft a competitive offer to purchase your dream home. And if your homebuying proposal is approved, a real estate agent will help you finalize your house purchase.
Use the aforementioned tips, and you should have no trouble deciding if a house is right for you.
When it comes to buying a house, there is no need to deal with a stubborn home seller. However, you may encounter a stubborn home seller, regardless of how well you prepare for your homebuying journey. And if you're not careful, a stubborn home seller may cause you to miss out on an opportunity to purchase your ideal residence.
Don't let a stubborn home seller get the best of you. Instead, use these tips to ensure you can handle negotiations with a stubborn home seller like a pro.
1. Don't Panic
If you are forced to deal with a stubborn home seller, there's no need to get discouraged. Conversely, consider the property seller's perspective, and you may be able to get the best results out of a tough situation.
Open the lines of communication with a home seller – you'll be glad you did. If you maintain open communication, you may be able to find out the root cause of a home seller's stubbornness and plan accordingly.
Also, don't panic if a home seller fails to communicate with you, and try to avoid assumptions at all costs. By doing so, you'll be able to remain calm, cool and collected and maintain your patience as you try to figure out the best way to acquire your dream house.
2. Be Prepared for the Best- and Worst-Case Scenarios
In the best-case scenario, a stubborn home seller will explain his or her demands. Then, you can negotiate with a home seller, find common ground with him or her and work toward finalizing a home purchase agreement.
On the other hand, it is important to understand the worst-case scenario as well.
In the worst-case scenario, you and a home seller may be unable to find common ground. And if this occurs, you should be prepared to walk away from a potential homebuying negotiation and restart your search for the perfect residence.
3. Consult with a Real Estate Agent
Are you unsure about how to deal with a stubborn home seller? There's no need to worry, especially if you consult with a real estate agent.
With an expert real estate agent at your side, you should be able to overcome any potential homebuying hurdles.
An expert real estate agent will act as a liaison between you and a home seller. He or she will learn about the needs of a homebuyer and home seller and ensure both parties can achieve their ideal results.
Furthermore, an expert real estate agent can respond to any homebuying concerns and questions. This housing market professional can teach you about the ins and outs of purchasing a residence and provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you simplify the homebuying process and ensure you can secure a first-rate house that matches or exceeds your expectations.
Ready to streamline the homebuying journey? Take advantage of the aforementioned tips, and you can get the support you need to deal with a stubborn home seller.
Purchasing a home is a life-changing decision, and as such, should not be taken lightly. Fortunately, there are lots of things you can do to prepare for the homebuying journey, such as:
1. Determine Where You Want to Live
There is no shortage of high-quality houses available across the United States. Now, you just need to determine where you want to reside, and you can hone your house search accordingly.
Think about your long-term plans as you consider where you want to live. For instance, if you enjoy life in the big city, you may want to search for houses in or near the city of your choice. On the other hand, if you want to start a family in the near future, you may want to explore residences near parks and other family-friendly attractions.
Ultimately, it helps to narrow your home search to a few cities and towns. Because if you know where you want to live, you can quickly navigate the homebuying journey.
2. Establish a Budget
A budget is a must-have for any homebuyer, at any time. If you know how much you can spend on a house, you can search for residences that fall within your price range.
Oftentimes, it helps to meet with banks and credit unions before you launch a home search. These financial institutions can teach you about different types of mortgages. Then, you can select a mortgage that suits you perfectly.
Don't forget about home inspection, closing and other property buying fees, either. If you account for these property buying costs, you can ensure you have the necessary funds available to cover them.
3. Consult with a Real Estate Agent
A real estate agent is a difference-maker for a homebuyer. He or she is happy to teach a homebuyer about the ins and outs of the real estate market. As a result, a real estate agent will help you become a homebuying expert.
Typically, a real estate agent offers recommendations and insights throughout the homebuying journey. He or she first will learn about you and help you establish homebuying expectations. Next, a real estate agent will help you kick off a search for homes in your preferred cities and towns. When you find your dream residence, a real estate agent will help you craft a competitive offer to purchase this home. And if your offer to purchase is approved, a real estate agent will help you navigate the final stages of the homebuying journey.
Furthermore, a real estate agent can provide assistance any time a homebuyer has concerns or questions. A real estate agent strives to help you make informed homebuying decisions. Thus, he or she will do whatever it takes to educate you about the homebuying cycle and ensure you are ready to find and buy your ideal residence.
Simplify the process of finding your dream home – use the aforementioned tips, and you can prep for the homebuying journey.
If you're on the lookout for your dream house, it helps to be persistent. In fact, there are many reasons to take a persistent approach to the real estate market, and these include:
1. You can pounce on the opportunity to acquire your ideal residence.
A persistent homebuyer should have no trouble finding lots of homes that match or exceed his or her expectations. Then, this buyer can take the necessary steps to submit an offer on his or her dream house and finalize a home purchase.
As a persistent homebuyer, it is essential to submit a competitive offer on any residence that you want to acquire. By providing a competitive offer, you can increase the likelihood of receiving an immediate "Yes" from a seller.
2. You can stay ahead of the competition.
When it comes to buying the best house at the lowest price, the early bird catches the worm. Thus, a persistent homebuyer may be better equipped than others to find and purchase his or her dream residence as soon as this house becomes available.
To stay ahead of the homebuying competition, it helps to assess the real estate sector closely. This will enable a homebuyer to identify his or her dream house in no time at all.
Furthermore, a homebuyer should create a checklist of dream home wants and must-haves. This list will allow a homebuyer to narrow his or her home search, making it easier than ever before to discover a great house.
3. You can boost the likelihood of a seamless homebuying experience.
No one should be forced to deal with a long, arduous homebuying experience. Fortunately, a persistent homebuyer can act quickly on available houses, ensuring this buyer can accelerate the homebuying journey.
For a persistent homebuyer, it often is a good idea to get extra help from a housing market professional as well. Thankfully, real estate agents are available who can provide comprehensive support to persistent homebuyers in any city or town.
A real estate agent understands the ins and outs of purchasing a house in a buyer's or seller's market and is happy to share his or her industry expertise with a homebuyer. By doing so, a real estate agent can provide valuable insights to help a homebuyer accomplish his or her goals.
In addition, a real estate agent offers plenty of support at each stage of the homebuying journey. He or she will learn about your homebuying aspirations, set up home showings and keep you up to date about new residences that become available. Plus, once you find your dream house, a real estate agent will help you submit a competitive offer right away.
If you want to pursue your dream house, it may be beneficial to take a persistent approach to the housing market. With the aforementioned tips, you can enter the real estate market as a persistent homebuyer who knows exactly what he or she wants to find. Take advantage of these homebuying tips, and you can move closer to acquiring your ideal house.
As you move forward with your home purchase, your real estate agent may recommend that you have your home inspected. Sometimes the inspection is required by the lender or insurance company, but sometimes it’s an optional step. Buyers who have the option sometimes consider skipping the inspection to save a little cash. Before you say “no” to the inspection, consider these reasons that it may be an important safety measure to take.
1. The Ability to Walk Away
When buying a home, you want to be completely sure that you’re not buying a home with problems that will cost you thousands after closing. Making an offer contingent on the results of an inspection allows you to legally walk away from your purchase contract if the inspector finds a serious issue. Without an inspection and this contingency, your offer is legally binding, and walking away is a costly choice.
2. Ensure Your Home Is Safe
Home inspectors know how to find problems that aren’t clear to the naked eye. From electrical wiring problems to hidden mold or problems with the home’s structure, knowing about these issues will protect you from buying a home that’s not safe to live in.
3. Improve Your Negotiating Position
If the inspection finds something wrong with the home that will be costly to fix, you can still buy the home if you wish. Armed with the information from the inspection, you can ask the seller to make repairs or give you a different price to cover the problems found. For instance, if the roof is in need of major repair, you can make a new offer that requires the seller to make those repairs, or you can offer at a lower price, using the difference to cover the repairs. Your real estate agent will help you understand the requests that are reasonable as you craft a new offer.
4. Enjoy Peace of Mind
A home inspection gives you peace of mind that you are buying a quality home. When the inspector gives it a stamp of approval, you can know that you are unlikely to have serious surprises when you move in.
5. Find Pest Problems
You don’t want to move in only to discover termites or roaches in the home. Pests can often go undetected until a serious infestation is present, but an inspector knows how to find the hidden signs of pests. Finding pests doesn’t mean you need to avoid the home, but it does mean you should ask the seller for professional pest control measures before you close on the property.
An inspection is an important step when buying a home. The cost of the inspection is small in comparison to the peace of mind and protection it brings. Even if it’s not required, make sure you request an inspection on your next home purchase.