Our Real Estate Blog
In today’s world, everything is online. You probably have started your home search online as well. It’s plain fun to look at real estate. You can dream of living in a place you can’t afford. You might never see any of those listings that you’re browsing in person. Should you?
No matter when your home search may become a reality, there are a few benefits to seeing houses in person.
You’ll See What Your Money Can Get You
What you want and what you can afford may be far apart. You won’t understand the reality of the housing market unless you see it firsthand. By looking at what’s available on the market at a given time, you will be able to see how much house your dollars will buy you. Knowing what you can afford will help you to keep your expectations in check when you do head out to search for a home. Looking at what homes are on the market can actually help you to help your real estate agent find you something that will suit your needs. There’s nothing worse than telling your agent that you want a home that’s impossible to find.
You’ll Meet Real Estate Agents
By going to open houses, you’ll be able to meet different real estate agents. Through this process, you could very well meet the agent who will help you to find your dream home. If you like the way an agent is helping to sell a home, you’ll very likely get along with them as a buyer.
You Will Know How Much Competition You Have
If you’re attending open houses and find that there are many other people there the same time as you, it could be a sign that the market has tight competition. A lot of open house attendees means that prices are higher because the competition is fierce. You may have to offer above asking price in order to secure a deal on a home.
You’ll Learn Different Areas
Open houses can bring you to places you may have never thought of living before. You’ll get a sense of what different neighborhoods are like if you spend some time exploring through attending open houses.
You’ll Learn What You Can Live With
It’s easy to have a concrete picture in your mind of what you want in a home and what you can deal with. When you see houses firsthand, you may be able to open your mind a bit as to the type of home you’re seeking.
After a home seller accepts your offer on a home, the next step usually involves a home inspection.
At this point, you'll hire a home inspector who will walk through the home you'd like to buy and offer expert insights into the residence's strengths and weaknesses. Then, you'll be able to assess potential issues with a home and determine whether to move forward with a home purchase.
A home inspection can be stressful, particularly for a first-time homebuyer. Lucky for you, we're here to help you take the guesswork out of home inspections.
Ultimately, there are many questions to consider after a home inspection is completed, including:
1. What did the home inspection reveal?
A home inspection offers unparalleled insights into a residence. It enables you to look beyond a house's surface and find out whether major repairs will be required both now and in the future.
Hiring an experienced home inspector is paramount for homebuyers. With an experienced home inspector at your disposal, you'll be better equipped than others to identify "hidden" problems within a house.
Also, don't forget to review a home inspection report closely. With this information at your disposal, you'll be able to understand whether a residence meets your expectations.
Be sure to consider the long-term value of a property as well. Remember, a home that you plan to purchase should be able to serve you well for years to come. But if you encounter myriad home issues during a property inspection, you may want to consider rescinding your offer on a residence and restarting your search for the ideal house.
2. Are there major home issues?
As a homebuyer, it is important to be able to identify the differences between major and minor home issues.
For example, if there are tiny cracks and chips in the paint on a kitchen's walls, these issues are minor. In fact, you may be able to repair such issues quickly and effortlessly.
On the other hand, an old, inefficient furnace can cause major headaches. Without a properly functioning furnace, you may struggle to heat your home in winter. Meanwhile, it may cost several thousand dollars to replace this furnace.
If you encounter problems with a residence during a home inspection, consider the costs associated with these issues. By doing so, you'll be able to determine how much you may need to spend to correct such problems and can proceed with a home purchase accordingly.
3. What should I do next?
An informed homebuyer will be equipped with the knowledge and insights needed to make a great decision.
Consider the problems that were discovered during a home inspection. If you can fix home issues without having to commit substantial time and resources to complete various home maintenance projects, you may want to consider moving forward with a home purchase.
If you encounter major home issues, you can always ask a home seller to perform home repairs. Or, you may want to remove your offer on a home altogether.
Working with a real estate agent is ideal, especially for homebuyers who want help with home seller negotiations. With assistance from a real estate agent, you should have no trouble determining how to proceed after a home inspection.
As a homebuyer, it is important to set high expectations. At the same time, a homebuyer must act reasonably, or he or she risks missing out on a golden opportunity to acquire the perfect residence.
Ultimately, becoming a reasonable homebuyer can be quick and easy – here are three tips to help you do just that.
1. Establish Realistic Expectations for the Homebuying Journey
The homebuying journey sometimes can take weeks or months to complete, and a homebuyer should plan accordingly. By doing so, a homebuyer can prepare for any potential homebuying pitfalls.
For example, a homebuyer may submit an offer on a home and receive a "Yes" from a home seller. But if a home inspector discovers myriad problems with a residence, a homebuyer may need to walk away from the house and restart the homebuying journey.
In the aforementioned scenario, a homebuyer may become frustrated and annoyed, and for good reason. Conversely, if a homebuyer understands the challenges associated with buying a house, he or she can plan for the best- and worst-case scenarios.
2. Search for Homes That Fall Within Your Price Range
Have you established a budget for your home search? If not, you may wind up focusing on houses that you won't be able to afford.
Get pre-approved for a home loan – you'll be glad you did. With a home loan in hand, you can enter the real estate market with a homebuying budget. Then, you'll be able to narrow your home search to houses that fall within your price range, thereby speeding up your search for the ideal residence.
It won't take long to get pre-approved for a home loan, either. In fact, if you meet with local banks and credit unions, you can instantly learn about a variety of home loan options.
3. Collaborate with a Real Estate Agent
Although you know that you want to buy a house, you have no idea what to expect during the homebuying journey. Fortunately, if you hire a real estate agent, you can learn what it takes to stay calm, cool and collected as you search for a house.
A real estate agent is a housing market expert who takes pride in his or her work. As such, a real estate agent will be available to respond to your homebuying concerns and questions, ensuring that you can make an informed home purchase.
Perhaps best of all, a real estate agent will go above and beyond the call of duty to eliminate homebuying hurdles.
For instance, a real estate agent is happy to negotiate with a seller's agent on your behalf, guaranteeing that you can avoid the stress of negotiating a home price. Or, if you need help finding a qualified home inspector, real estate attorney or other local professionals, your real estate agent can provide honest, unbiased recommendations.
Be reasonable as you kick off your search for your dream residence. That way, you can seamlessly navigate the homebuying journey and improve your chances of acquiring a house that matches or exceeds your expectations.
When it comes to buying a house, it usually pays to be flexible. Because if you take a flexible approach to the real estate market, you'll be open to checking out dozens of residences and can improve your chances of finding a house that matches or exceeds your expectations.
Although flexibility can play an important role in a successful homebuying journey, buyers sometimes struggle with stubbornness. Fortunately, we're here to help you become a flexible homebuyer who can achieve the best-possible results throughout the homebuying journey.
Now, let's take a look at three tips to help you become a flexible homebuyer.
1. Get Pre-Approved for a Mortgage
The real estate market constantly fluctuates, and a sector that favors buyers one day may favor sellers the next. However, if you get pre-approved for a mortgage, you can pounce at the opportunity to acquire your dream residence, regardless of when that opportunity presents itself.
Getting pre-approved for a mortgage may prove to be a quick, seamless process. Typically, you'll want to meet with local banks and credit unions and learn about a wide range of mortgage options. Once you have mortgage information, you can select a mortgage that corresponds to your finances.
Remember, pre-approval for a mortgage opens the door for a successful homebuying experience. It can help you establish a budget for your dream home by providing you with a set amount that you can spend on a residence. As a result, after you find an ideal house that falls within your price range, you'll have the flexibility to move quickly to acquire this residence.
2. Consider Houses in a Variety of Cities and Towns
Evaluate your homebuying goals – you'll be glad you did. If you understand where you want to live, you can explore houses in a variety of cities and towns that fit your criteria.
For example, if you want to live near family members or friends in a particular area, you can narrow your home search accordingly. Keep in mind that you don't necessarily have to live in the same city or town as these loved ones. Instead, you can search for houses in assorted cities and towns near your loved ones and ensure you're never too far away from them.
On the other hand, if you want to buy a home that is close to your office in the city, it may be worthwhile to consider houses both inside and outside the city itself. City living generally is more expensive than living in the suburbs, so you'll want to assess your finances closely before you buy a city house. Or, if you prefer small town living, you can always purchase a more affordable residence outside the city and take public transportation to work.
3. Collaborate with a Real Estate Agent
A real estate agent is happy to help you become a flexible homebuyer. In fact, this housing market professional will offer expert guidance during the homebuying journey. By doing so, a real estate agent will help you evaluate many houses and ensure that you can find one that suits you perfectly.
Ready to pursue your dream house? Consider the aforementioned tips, and you can enter the real estate market as a flexible homebuyer.
Seeing your desire to buy a waterfront property through is a big accomplishment. Before you sign on the dotted lines, there are a few things that you should know about the process of choosing the perfect waterfront property for you.
Decide What You Need
The first step in finding the right property of any kind is understanding your own needs. How do you want to use the property? Will it be your year-round home, or will you be there only a portion of the year? Really map out what your priorities are when it comes to searching for waterfront properties. From here, you can figure out what areas you’d like to search in and what type of property you want to find to suit you. What types of activities will you be doing at your property? Will a lake property do the job or do you need an ocean escape? Is canoeing or kayaking a part of your dream, or is simply sitting by the water enough enjoyment for your needs? Answering all of these questions can help you to narrow down your needs for a waterfront property.
As with any other type of home search, you should take the time to scope out the properties that you’re interested in. This means not only looking at the properties themselves but looking at the communities and neighborhoods as well. What does the area have to offer you? Is it near a town or nestled away in a secluded spot? Remember that with a typical house the size of the home is what contributes to the majority of the value of the home. With a waterfront property, the surroundings are key. The closer to the water you are, the more valuable your piece of real estate is. Consider all of the typical factors when looking at properties along with the additional concerns of being close to the amenities and natural pleasures that you crave.
Other Important Things To Consider
Other things that you should consider in finding your perfect piece of waterfront heaven are things like:
- How close is the beach?
- Does the beach or lake have easy access?
- Is there an adequate amount of privacy at this property?
- What kind of view is there?
The more breathtaking the views and the more space between you and your neighbors will give you an advantage not only in your own living situation but in renting out the property and even selling it in the future.
There are a lot of things that go into making the decision of finding the right waterfront property. Sometimes, hiring an experienced realtor in the area can be just what you need to understand all the aspects of your investment from the area to the type of home you choose. Don’t be afraid to hire an experienced realtor to help you in your search.