When starting out on your hunt for a new home, first you must understand how properties are valued.
It is important to know how property values are estimated by agents and other real estate professionals. Any real estate agent can offer you comparable properties. Most can also tell you how much they are selling, or have sold for.
Though this will help, you won’t know for sure how much a specific property can generate or sell for.
The art of negotiation
A real estate negotiation – like any negotiation – is a process of compromise. These tips can help you get stared.
It is unrealistic for a negotiator to expect everything to go her way. As the negotiation progresses, it is better to focus on priority goals you may have rather than goals that don’t mean much in the grand scheme. A good negotiator does not get everything; a good negotiator gets the important things.
If you are shopping for a property, try not give a low-ball offer on a home you are very interested in buying. An extremely low offer will scare off the owner and make it appear that you might not be willing to negotiate. A reasonable offer shows the owner that you are serious about buying.
Find the right agent
We advise that you consult several real estate agents before you commit to using one. Remember that the agent will be representing you in all real estate transactions. Ideally, you want to find one who understands your expectations and who can represent you effectively. By interviewing each agent, you can decide which one is the best partner.
If you desire a good experience buying a home you should find an agent who communicates on your level. Some folks will need more contact with their agent. They may be frustrated if they are working with a busy agent.
A lot of people make the mistake of thinking a big realty company is best to use. If you prescribe to this thinking, you may hire an agent who is not necessarily the best qualified. Smaller real estate offices are very good because they can deliver a more personalized experience.
Do your research
When buying a new house, research and see as many properties as you can. If you focus on only one home, you probably will not get the best deal for your money. Go to many open houses and keep an open mind about what what you want in a residence.
Get a feel for where you want to reside. Walk through the neighborhood before you sign a lease to determine if the local is right for you.
Ensure there are no signs of criminal activity (graffiti on walls, loitering in parking lots), and the area is relatively quite at night so you can get the sleep you need.
Be sure to not be misled by fancy edited photos and aerial videos of lavish real estate.
Have the home inspected
Make sure to take the time and the money to pay an inspector to look over the house that you are considering buying before you sign anything. Many things that you will not be able to see on your own will be able to be seen by a professional inspector.
A home inspector should pay special attention to the roof, and needed repairs for foundations, drywall, and water heaters.
Get what you want
If you desire a larger backyard, you may consider buying a house on corner lot. Not only will you get more space, but you will likely not be as close to neighbors. A fence may be necessary if you have children.
Other considerations include garages, finished basements, multiple bathrooms, number of bedrooms, access to nearby schools, shopping, and your commute time to work.
Make sure you’re getting what you need and want out of your home in a way that fits your budget.