So you have decided to buy. We hope these tips will come in handy and will help you become a strong buyer:
Get your finances in order
Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct, and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. We would be happy to send you contact information of lenders we have business relationship with. Having a pre-approval letter will put you in a better position to make a serious offer when you do find the right house. Also, it will help you understand what your price range is.
Hire a professional
While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional Realtor than going it alone. Hire a Realtor who has your interests at heart and can help you with strategies during the bidding process. Your Realtor should also help you determine the state of the market at large. Is it more favorable for sellers or buyers? Knowing the current status of market can help you strategize your offer price.
Think Long Term
Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should always get a home inspection done. Home inspection can point out potential problems that could require costly repairs in the future.