TIPS FOR BUYERS
No one wants to contract a case of buyer’s remorse, but why are there so many people out there who suffer from it? The answer is simple: most of these people engaged in a transaction without enough knowledge and information.
The best way to make sure that you choose the right home is to properly prepare yourself, which is why we’ve put together some tips that will help your real estate transaction progress smoothly and result in you being a happy homeowner.
- Get help. In order to make sure that the transaction goes smoothly it is of vital importance that you choose the right agent to represent your interests. The right agent will be someone whose experience and personality makes you feel comfortable. You should try to find an agent that is familiar and knowledgeable about the area you plan to move into.
- Sign up for Property Watch. The Property Watch function on this website is a great tool to ensure you are making an educated decision and learning what’s available on the market. Once you have browsed our homes listings and found properties you like, you’re able to save those searches, sign up for property watch, and have new listed e-mailed directly to you.
- Get pre-approved. There is nothing more frustrating than looking for a home, finding the perfect home, and then discovering that it is out of your price range. Speak with a lender to learn about the different financing options available to you.
- Avoid major purchases. In order to determine the amount of home you can afford a lender uses your debt-to-income ratio. This ratio is the percentage of your pre-tax income that you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt right before buying a home it is going to have an impact on the amount of the loan that the lender will finance.
- Get inspected. The last thing you want to discover after you have bought a home is that it’s full of defects that are going to end up costing you a lot of money. Save yourself time in future litigation and renovation by bringing in a licensed home inspector before you buy. If any problems are found it will steer you away from a bad decision or help you negotiate a better price.
- Ask Questions. No one knows the home better than the seller of the property. However it is not always in the seller’s best interest to disclose all the information. If you find out the seller’s motivation for selling you might be able to negotiate a better deal on the home. Try to find out the last time service was performed on the roof, furnace, and water heating. Asking the right questions now can end up saving you a lot of money in the long run.