Buying a home isn’t something that most people do every week. Since the real estate market is fluid, even buying a home today is not the same as ten years ago. Whether you are a first time buyer looking for a home in Locust Grove or elsewhere or it has been a bit since you’ve been out searching for a house, here are some things that I want to know before buying a home.
Know Your Budget
Before we start looking at homes for sale, it is important for you to know how much money you realistically want to spend on a home. Just because you were approved for a certain amount doesn’t mean you have spend exactly that amount. Talk with your mortgage lender to find out how much per month you will pay (with taxes included) to see if that number leaves enough room in your budget for the other necessities of life.
Be pre-approved
Going through the pre-approval process not only gives us a budget for shopping for a home in Locust Grove, it also makes sure that we have everything in place to write an offer when you find the home for you. If you find a home to write on offer on, we don’t won’t to wait a few days to get a pre-approval letter from your lender. Sellers don’t take offers without pre-approval letters seriously.
Look at homes with only the buyers
Sometimes there can be too many chefs in the kitchen. Bringing a bunch of friends or family members along on showings can make it harder to make a decision. Since we value these opinions, they can cloud our judgment especially when there are many different opinions being offered. The most important person in the whole process is the buyer. You are the one living in the home in Locust Grove, so you have to like it.
Keep conversations with your agent
Seller agents work with the sellers. While they are friendly and kind, at the end of the day, the seller agent’s duty is to the sellers. Having conversations with the seller’s agent about your personal home buying situation or what you like or don’t like in a home could affect negotiations.
Be on time
It is important to show up on time to showing appointments. If there are appointments before or after your time, it lessens the time you have to spend in the home.
Share opinions after the showing
Many homes now have video recording devices. As you walk through the home, it’s great to point out the features that you love. Keep mental notes of the things you didn’t love, but don’t speak negatively about the home’s decor or condition. Even if you are excited to write an offer on a home in Locust Grove, wait until you are off of the property to share your thoughts with your REALTOR®.
Don’t Expect to Get Everything
When you write an offer, not only can the price be negotiated, but also other terms like the closing date and things that are included in the home. If you ask for numerous things and get too specific, like a request to remove the planters in the front yard, offer less than list price, and ask for closing cost assistance, then chances are the sellers might see working with you as difficult. It is important to prioritize the most important things to you in the offer and be willing to compromise.
Finding your home isn’t instantaneous
Sometimes the right home for you is the first home you see. Sometimes it is the twentieth. Depending on market conditions, your budget, and flexibility of location, house hunting can take time. When you start your search for a home in Locust Grove, ask your REALTOR® about the average days on the market of homes in the area and the amount of inventory available. The answers to these questions will help you set realistic expectations for your home search.
