Are you eager to get out there and buy a home? The market is pretty hot right now, with great interest rates with a variety of charming homes for sale. But, buying a home can also be pretty overwhelming, especially in a market where inventory is on the lower side and buyers just like you are looking to get a good deal. Whether you’re a first time homebuyer or you’re experienced in buying and selling homes, there are some simple ways to have a successful, more enjoyable home buying experience.
Tip #1: Find and use an experienced Realtor™.
There are a lot of options out there when it comes to choosing a realtor. So, find a Realtor™ that you trust – one that has significant market knowledge as well as community knowledge. In addition, this person should be able to prove successful home sale transactions in months and years past. Your Realtor™ should be someone that is looking out for your best interest and is there to work with you throughout the process. They are there to find the best home for you within your budget and you’re there to supply what they need to get the job done right. Home buying is a real partnership between a client and the Realtor™.
Tip #2: Know what you can afford.
This may seem obvious, but it can be a little bit more complicated than what it seems. Talk with an experienced lender and get pre-approval, but keep in mind that what you’re pre-approved for doesn’t always mean that’s what you can afford. Look closely at your monthly and yearly finances and consider your investment strategy. Knowing how much you’re able to take on for a mortgage payment before you start searching for houses will save you and your Realtor™ significant time and energy in the long run.
Tip #3: Know how you’re going to transition from current housing.
Consider what happens if you find a home that you want to buy before your current home is sold or before your lease is up. If you need to break a lease, add this into your home buying costs so you can be prepared when it comes time to move. If you need to sell your home, ask your Realtor™ how the market is doing in that area. If you need to find interim housing, have that lined up just in case you need it to fall back on. No homebuyer wants to end up homeless before closing on the new home is final!
In the end, remember that it’s ok to ask questions along the way. In fact, please do! Your Realtor™ will want to be sure that your questions are answered so they have the information that they need to find a great home for you and your family.