Petty’s Top 6 Real Estate Tips for Home Buyers:
1. Hire a Qualified “Tour Guide”
Did you know that you could eliminate a lot of stress by hiring a professional real estate agent to orchestrate showings, inspections, appraisals, contracts, and negotiations? Keep searching until you find an agent with the right chemistry for you and is sure to help you find exactly what you are looking for. Don’t settle!
2. Get Preapproved With a Lender
Oftentimes, without a preapproval letter you are nothing more than a “wannabe” buyer; and no seller will negotiate their best deal with a “wannabe” buyer. By having a preapproval letter in hand and knowing how much you’ll be able to borrow from the bank will help you stay realistic when it comes to the purchase price, and help your realtor negotiate a deal for you.
3. Know the Difference between Your Needs vs. Wants
I often advise my clients that you want to be able too still live after you purchase your home. Your budget will dictate to a large extent how much of your dream you’ll be able to achieve, so prioritize a home’s features by their level of importance. Think about your priorities and be aware that you will most likely re-prioritize several times throughout the buying process.
4. Don’t Look at Too Many Homes
Many people tend to get confused and be overwhelmed when they look at too many homes. At times family and friends can add to the confusion when they add their opinions. Create you a wish list and refer to your list of needs and wants as a way to narrow your search if you have too many homes in contention.
5. Don’t get Emotional
Buying a home can be stressful, but very exciting and emotional. Keep your emotions in check, and keep your business mind on. Purchasing a home is a business transaction and no matter how much you love the house, be realistic and don’t ever extend yourself by succumbing to your emotions on this business transaction.
6. Get an Inspection
INSPECTION! INSPECTION! INSPECTION! I cannot stress this point enough. Unless you are home inspector by trade, your skills will only get you so far so hire an impartial professional inspector. A good inspector will identify problems, explain the extent of the problems, and also recommend the appropriate repairs. These inspections cost more upfront but they can save you thousands in the long run.
William Petty, COL, USA, Retired is an IntraVest Real Estate Agent. He can be reached at (334) 538-8580 or [email protected]
Remember…….When you are Ready, Just call Petty!
