For many prospective buyers, the thought of going through the home-buying process is often filled with a lot of stress. From getting financed, to narrowing down your choice of homes and then packing your belongings and moving across town can be an overwhelming process.
Because this is an emotional process, it's important to find a real estate professional that you can trust and you feel has your best interest at heart. It may help to go through a friend for a referral. Chances if they've used the person and are satisfied, you will be too.
Just because a home is for sell doesn't mean you have to look at it. Make a checklist and choose the homes to look at based on which ones meet the most points on your checklist. Looking at homes is an overwhelming task and many get lost in the shuffle and features get forgotten. Do yourself a favor and don't look at more than 5-10 a day. Most people only remember the first and last one that they viewed by the end of the day. Narrow down your search as much as you can before you begin looking.
Too much information can be a bad thing. Naturally you want to talk big decisions over with loved ones, but try to include the only the ones that matter. Everyone has an opinion, and at the end of the day, you'll be paying the mortgage and sleeping in the home.
Negotiation is an important part of the real estate buying process, but be sure you don’t take your negotiating too far. Trying to get an extra-low price or refusing to budge on your offer may cost you the home in the end. Successful negotiation depends on give and take, so make sure you are being fair in your requests.
Don’t get too caught up in all the physical aspects of a home and forget about the more important issues. While the size of the rooms and the layout of the kitchen might not be exactly what you expected, be cognizant of issues such as noise level, location to amenities and other aspects that will have an impact on your day-to-day life.
Getting approved for a mortgage should be taken care of well before you find a home and make an offer. There are many mortgage brokers but choose the one that you can work with the easiest and offers you the best rate. It's a lot of money so naturally you want to shop around for the best rate.
Create a budget before you move into your new home and be sure to include maintenance and repair costs. Even if you buy a new home, there will be extra costs, so it is important to not come up short and let your new home deteriorate.
After purchasing a home, a little buyer’s remorse is inevitable, but it will pass. Buying a home is a big financial commitment, but it also yields big benefits. If you are feeling remorseful after buying your home, remind yourself why you wanted to buy a home and what made you fall in love with your new property.
When choosing a home, buy it because you love it. A home’s most important role is to serve as a comfortable, safe place to live, so don’t get bogged down with thinking about your home’s appreciation.
