5 Tips for a Smooth Home Purchase
By Keith Loria
If you’re planning on purchasing a home this year, here are a few tips to keep things moving smoothly throughout the process.
1. Communicate with Your Agent. Work with a real estate agent that you are comfortable with and be sure to express everything you want and need in your new home. By communicating your desires from the beginning, your agent won’t waste time showing you homes that don’t fit your criteria. If you know you want a gourmet kitchen or walk-in closet in the master bedroom, make that clear. Or if you absolutely have to be near public transportation, tell your agent to avoid turning the process into a guessing game. When it comes to finding the perfect home, clear communication is key. And if you run into any problems along the way, be sure to speak with your agent to iron out any issues.
2. Be Reasonable with Expectations. If you’re searching for a three-bedroom home located in a certain neighborhood that has a pool, finished basement and sunroom and your agent shows you a property and your biggest qualm is the color, don’t simply write the home off. When searching for the home of your dreams, you may have to give something up or make some changes once you move in. Finding a home that’s 100 percent what you want can be a daunting undertaking.
3. Don’t be Discouraged. Don’t expect to find your dream home overnight. Buyers often get frustrated because nothing pops up in the first week or two, but remember, you’re not buying a new toaster. You want to find the home that you and your family can live in and love for years and years to come.
4. Play the Money Game. If you offer $375,000 on a home that’s listed at $400,000 and the seller refuses to budge, be prepared to negotiate. When buying a home, you need to have some wiggle room. Before making an offer, discuss your strategy with your agent as he or she will be able to tell you whether your offer is fair or unreasonable. It’s also important to check out comps in the neighborhood so that you can make a reasonable offer from the get-go.
5. Get Your Mortgage Pre-Approved. This could be the smartest thing you do all year. By having a mortgage approved before you even begin looking at houses, you’ll be ready to make an offer as soon as you find the home of your dreams. Getting pre-approved will also give you the upper hand over other buyers who may be interested in the same house.
For more tips for a smooth home-buying process, contact us today.
Reprinted with permission from RISMedia. ©2016. All rights reserved.
All first mortgage products are provided by Prosperity Home Mortgage, LLC dba FM Lending Services. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
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