- Have a Plan
If you’re getting into real estate then you need to be able to think about what the future will bring. If you plan on moving in the next five years then you should purchase a home that doesn’t need a lot of repair and maintenance work done. If you want to live in your new home for the long run then you can consider a home that needs renovating.
- Do Your Research
You should use online tools to search for a property so you are aware of how the real estate market is doing. You want to look at other homes in the area that you can reasonably afford. Meet with your realtor and ask them to run a comparative market analysis for you to ensure that you are getting a good deal on the home. The best real estate agents are able to teach you about this aspect of buying a home.
- Get Professional Advice
The best people to ask about the real estate market in your area is a trained real estate adviser. Find an agent that you are comfortable with and you are sure is on your side. Having them is among the best decisions you can make when looking for a home.
- Understand Credit Ratings and Their Impact
In the current real estate market it’s really important that you know and understand your credit rating so that you understand what you qualify for. Have a chat with your real estate adviser to be referred to a mortgage broker. They can get you pre-qualified for a loan and let you know exactly how much money you have to play with.
- The Little Things Matter
You should tell your realtor as much as you can about what you want and what you expect out of your new home. Tell them your desires as far as local amenities, transport, schools, shopping, and everything else goes. With this information your realtor will be able to find the home that is perfect for you.
- Don’t Forget a Home Inspection
This is something that almost everyone overlooks when they buy a new home. Before placing an offer down for a home you should have it inspected by an independent authorized inspector. You should pay for this inspection yourself so that you aren’t saddled with a house that is more damaged than you realise and will cost a fortune in repairs. If you’re happy with what the inspector tells you then make your offer. If not then you are in a position to negotiate for a lower price or just move on.
- Photograph Everything
Everybody has a digital camera these days thanks to smartphones. You need to take a lot of photos of your potential new home. Photograph the bedroom, kitchen and bathroom at least. This way you can look at the photos if you want to remember a specific detail or what the rooms looked like.
- Sign up For Emails About Properties You’re Interested In
These days you can just have a realtor email you with information about a property that matches your needs and wants. You’ll automatically get an email about a property that you’ll be interested in. You can sign up here to get new listings delivered right to your your email.
- Schools are Important
You should always buy a home in a district with good schools whether you have children or you don’t. This way the home will be worth more on the resale market so you’ll have an easier time selling it later on.
- Most Importantly of All: Have Fun!
Finding and buying a new home should always be a fun and pleasurable experience whether you’re a first time buyer or an experienced real estate connoisseur. Let the realtor and their knowledge and expertise remove the stress so you can focus on the excitement of finding a new home.