You can’t beat the confidence of our country – even with a pandemic and the associated economic and social challenges, we continue to demonstrate our optimism about the future by investing in real estate.
Home values are increasing across America, and that means prospective buyers need to be more diligent than ever in assessing the most suitable properties on the market.
As this is probably your biggest financial commitment, you can’t rely on luck to make a smart purchase.
You need to focus on making the right decision, and that process begins with researching the property trends in neighborhoods where you wish to purchase, including recent sales results.
As an experienced real estate agent, I can assist you by sharing important data about the area and finding the style of property you’re seeking, tailored to your budget.
I advise my clients to take their time so they can be confident that their final decision suits their lifestyle and financial situation. Whatever you do, don’t rush a decision or buy on emotion.
As your agent, I’ll steer you to avoid these pitfalls. I’d be delighted to discuss the options available to you. In the meantime, here is a quick list of buying tips to help you.
- Know your budget – You should line up your finances before you begin a property search. Not only does this give you a spending limit but it enables you to move quickly once you’ve made your decision.
- Assess impact on lifestyle – Even if you can get a giant-sized mortgage, do you really want it? Study the impact of monthly repayments on your lifestyle. Be happy that the sacrifice is worth it.
- Read my lips: Do the research – Talk to your agent to learn everything you can about the neighborhoods where you wish to buy. This will give you a good sense of current market trends, and it will empower you during any price negotiation.
- Analyze the condition of the property – If you feel the need to make an offer before you’ve carried out inspections, make sure the seller knows it’s “conditional” on the building satisfying certain criteria. Building and pest inspections are essential. Consider an independent roofing certification, too.
- Be tough but fair – If you want the property, you should still be able to negotiate a fair price. If work needs to be done, then seek discounts on the asking price. Never go in with a low-ball offer if you don’t have a reason. This is where your research will pay dividends.
- Resist pressure selling – Being told that other buyers are interested in the property should not influence you. Focus on what you need to consider. Rushing into a purchase can lead to years of financial pain and regret. It’s better to lose the property than take that risk.
- Head before heart – No matter how much you might love a property, don’t buy it if the price is not right, or it has major structural issues. There’ll always be other properties to love.