8 Tips To Make You a Smart Home Buyer
Eight things you you need to know when purchasing a home.
Be aware of the mistakes buyers make.
learn everything you need to know.
Take your time and read the video transcript below
Whether it’s your first or fifth — home buying is a bumpy process.
But there’s a lot that buyers can do to make the process smoother.
Here are eight tips to help you be a smart home buyer.
#1 Check your own credit
Your credit will play a huge part in what types of loans you may qualify for. Get all errors fixed and find out what else you need to do to improve your credit score.
#2 The pre-approval process
Being pre-approved means a lender has agreed to provide you without a specific amount of money. You should not go house hunting with this financing commitment.
#3 Hire a real estate expert.
As a home buyer an agents services are FREE to you! A real estate agent can help guide and advise you. Realtors are professionals and should be judged by their credentials, knowledge, experience, track record, and references.
# 4 Know what you can actually afford
Besides the down payment, be prepared to pay up front closing and settling-in costs like furniture and decorations, household and outside tools. Then you have ongoing costs of maintaining your home, repairs and emergencies.
You may not want to spend all you have been approved for or all of your savings because you need to remember all of these other expenses.
# 5 Wants VS needs?
After you have decided how much you can actually afford, you can now start to make your wants & needs list. This is an area where an experienced realtor can help you separate needs from wants and guide you to plan for future changes in your life. You must decide what are Dealbreakers – the things that are so important that will immediately eliminate a home from consideration.
#6 Home search
You should personally access the local multiple listing service online from national internet sites and your realtor’s site to see what is available and works for you. At the same time your Realtor will be checking and will set up a personalized alert system to notify you of new listings.
# 7.When you have found that dream home
It is time to make an OFFER to purchase Think competitively. An experienced realtor can help you determine an offer that’s a good deal for you and priced high enough to capture the seller’s attention as well.
# 8.The last tip is to never skip having a home Inspection.
Make sure you and your realtor are present for the inspection and listen carefully to any problems that the inspector sees in the home. After the inspection, you will have a good idea of what you will ask the seller to repair and what you’re okay taking on yourself.