One of the biggest decisions that you will make in your life is buying a new home, for yourself or for your family. It is imperative for you stay prudent throughout the entire process. Fortunately, there are sound principles that can help you handle this task with ease.
I’ve already covered the first half of the topics here. This time, I will dive into a broader scope. Let’s take a close look at another eight things you should consider looking at when buying a home.
Use the Right Real Estate Listings Website
There are dozens of listing sites around today. It is vital for you to focus on using a credible real estate site with home listings that appeal to your area, budget, and target price. An exceptional real estate listings site will give you guides that can help you save precious time and find the home of your dreams.
Get More Details on the Listing
A real estate listing website will give you an opportunity to see many homes for sale in your area. You should get more details on the listings that get your attention. Real estate search engines like Zillow and EstateBlock provide in-depth demographics and neighborhood information, making it easier for you to gauge if the property you are eyeing is suitable for your needs and preferences. Let’s zero in on several important questions:
- Is the home located near schools?
- Is the crime rate low in the area?
- Are hospitals or clinics nearby?
- Is the home in an area where public transportation is accessible?
The answers to these questions will help you decide if the home will be ideal for you and your family.
Know Your Realtor
A realtor plays a big role in the home-buying process. You should choose an experienced realtor that has sold homes in your targeted area. A local realtor will be in the position to offer better results. It is also important for you to choose a realtor that speaks your language.
Inspect the Property
You cannot make a final decision without inspecting the property. A same-day showing with your realtor will give you a chance to see the home in person. Attending an open house is important because this will give you an opportunity to inspect the property. Keep in mind, though, that an open house is a selling tactic used by realtors. You and others will be invited to see the home during the same time period. Realtors use open houses to get home shoppers to compete with each other.
Take your time while inspecting the property. Look at the home’s structure, landscaping, and amenities. A thorough home inspection will let you know if the home is suitable for you and your family.
Examine the Surrounding Area
Concentrate on buying a home in an area with rising property values. Homes located near hospitals, shopping malls, and schools normally increase in market value over time. This will increase your home’s equity.
Move-In or Fixer-Upper?
You need to determine if the house is ready to move in or if it’s a fixer-upper. A move-in house does not need any cosmetic work. It is ready for you to move in as is. A fixer-upper requires minimal to major cosmetic work, such as re-painting, repairing minor damages to wood floors, fixing roof gutter and electrical systems, etc. Unlike the seller of a move-in home, a fixer-upper seller will be easier to negotiate with.
Terms of the Payment
Does the seller want full payment? Is the seller willing to take most of their money upfront and create a second mortgage? A second mortgage allows you to pay the remaining balance owed to the seller in the form of monthly payments. You should consider dealing with a home seller that is willing to accept a second mortgage if your lender will not provide the full amount for the purchase.
Go With Your Instincts
Your instincts will let you know if you are looking at the right home. Relying upon your instincts will help you make the right decision. You should also determine how the home will be used. Will it serve as a primary residence or a vacation home? It would be a grave mistake for you to ignore your instincts!
Buying a home will be one of the most important decisions that you will make in your life. Using the eight pointers listed above will help you buy the home of your dreams with ease.
Featured photo credit: Christian Koch via unsplash.com