Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and good advice from a real estate professional.
What a Real Estate Agent can do to help you buy the right home
- Help you determine how much home you can actually afford
- Serve as a professional guide throughout the process from search to negotiation to offer to closing.
- Work as your buyer's agent and help negotiate the best price and terms.
- Help you work out a realistic idea of the home best suited to your needs.
- Can access a listing of all available homes on the market, can evaluate them in terms of your needs, and will not waste your time showing you unsuitable homes.
- Supply information on real estate values, taxes, utility costs, municipal services and facilities, and may be aware of proposed zoning that could affect your decision to buy.
- Help familiarize you with the closing process and obtain closing figures in advance for your review.
- Provide you with a list of qualified home inspectors and help to coordinate inspection appointments.
Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities.
Create A Top 10 List Of Amenities
When shopping for a home, list the features (fireplace, fenced-in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim. Your top reason for buying a home should be the value you are getting. Some of your amenities should logically be sacrificed if an incredible value is available.
Get A Quality Home Inspection
Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their lives - their homes. Paying for a qualified home inspection before you buy a home isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs.