5 Tips for Starting Your Home Search Wednesday, October 17th, 2018 First Time Home Buyers, For BuyersIn today’s real estate market, with low inventory dominating the
8 Tips To Finding Your DREAM Home
Are you looking to buy a home or condo? Here are 8 tips to help you find the best property quickly.
1. Needs and Wants
Before you do anything, sit down and make a list of your wants and needs. Write down everything that comes to mind. This list will most likely change several times as you learn more about all your options. You may change what is the most and least important to you. For example, you may want a home in a particular zip-code, but once you see the type of homes you get in your price range in that area your priorities may change. Do you need 4 bedrooms, large lot, convenient location? Prioritize your list because unless you have an unlimited budget you will probably have to make compromises.
2. Establish a Price Range
This step is crucial. Figure out how much you are willing to allocate each month for your housing expense. Some people are able to pay cash, but you will still have expenses in the way of property taxes, insurance and maintenance. If you are getting a mortgage, you will want to talk with a trusted lender who can let you know what you can afford up front, and give you an idea of what your monthly mortgage payments would look like. This will ensure that you will be comfortable in the price range you are looking in. If you need a referral, please let us know and we can send you a list of mortgage brokers that we have had success with.
3. Have your pre-qualification in hand prior to looking for homes
Get pre-approved for a mortgage before you start looking for homes. Often times a buyer wants to go find a home and then figure out how to pay for it. That is backwards. Find out what you can or are willing to afford and then start looking for properties. The key is to not waste time and create unrealistic expectations. There is nothing worse than finding your dream home, and then finding out you can't get a loan for that amount.
4. Pick a Great Realtor
Find an expert to work with or better yet an entire team of skilled individuals. A great Realtor will shorten your learning curve tremendously. Ask for referrals or go online then interview a few to find the right fit. An agent should be professional, experienced, ethical and work full time. You as the buyer, do not need to compensate a Realtor. They get paid by the seller so it makes sense to have expert assistance. I would like to interview for that job! .
5. Learn the Real Estate Market
Have your Realtor send you homes or condos that have recently sold within your price range for the last 3-6 months. Do you like any of them? Often times a home buyer only likes properties that are outside their budget. A skilled agent can guide you to options that you may never have thought of, like a location you weren't aware of, or a different type of property.
6. Favorite Neighborhoods
Make a list of your favorite neighborhoods. Make sure your price range matches what those locations have to offer. Communicate to your agent why these neighborhoods are attractive to you. They may be able to match your needs and wants to an alternative location.
7. What is Currently For Sale
You figured out what you wanted, got pre-approved for a mortgage or are a cash buyer, established a comfortable price range, found a good Realtor, learned the real estate market and made a list of your favorite communities. Now it is time to start looking at homes. Have your Realtor provide you with a list of homes that match your needs, price range and are within your favorite areas. Have your Realtor book appointments for private showings. The agent that accompanies you may point out interesting details that you may overlook. Again, don’t do this until you are ready to purchase. The real estate market changes daily so if you find the perfect house today it may not be there tomorrow.
The best properties still sell very fast so have your Realtor put you on an automated email program to send you listings in your favorite communities as they come on the market and make sure they preview homes for you right when they come on the market. Eventually, you will find your dream home.
With my expertise in reality for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new ho....