Preparation is key!
1. Understand Your Budget
Getting pre-approved for a mortgage before you spend time searching is critical. Knowing what you can afford before you see properties saves you time, energy and emotion. Do you need to improve your credit score before you apply for a mortgage? Do you understand different types of mortgages and how they might impact your budget?
Don’t forget about closing costs, maintenance and property taxes as you consider your overall budget.
2. Research the Market
Understanding current market trends is important in terms of setting your own expectations and knowing what is affecting property values. Are homes in your target area selling in a matter of days, making it critical for you to see them the weekend they hit the market? Honing in on what’s going on in your towns and specific neighborhoods of interest can help inform your timing and strategy.
3. Know Your Priorities
If only we could have it all. Identifying must-haves vs. nice-to-haves is important in terms of keeping you grounded as you search. Make a list of priorities and stick to it. Consider future needs, such as family growth or work-from-home space, when setting priorities. And remember that being flexible on nice-to-haves can lead to happiness.
4. Understand the Buying Process
It’s a process, from pre-planning to searching to bidding to negotiating to closing, with a lot of steps in between. Do you understand contingencies and the importance of an appraisal? Do you understand the role of a home inspection and why it’s crucial?
5. Let an Expert Guide You
Let a professional guide you through the process! Be sure to choose the right agent for your needs and personality, and understand what value that agent can bring you, from negotiating the best price and terms for you, to access to exclusive listings and market insights that might not be available to the general public.
I’d love to see if we’re a match and help you on your real estate journey. Reach out anytime to chat.
