Doing your homework does not end when you make the decision, although it is a big step, that you are going to buy a new home. Here are a few guiding questions you can start to ask yourself in order to fully prepare for the adventure to come:
- Home Condition-Your lifestyle is unlike anyone else’s. Are you seeking a fixer-upper home that you can add your touch, your blood sweat and tears, and your elbow grease in to? Or are you someone who is relocating and need a place fully furnished and move in ready? There is the whole spectrum in between, but the level of readiness of the home matters both for you ease of transition as well as for the adjustable offer you are going to make on a home. If it needs a dozen repairs, offer low to financially prepare yourself for the year of fixes to come.
- How Much House-Before you begin looking, know how much house you can make an offer on. Only borrow to the level that your lifestyle does not plummet. This is a major investment, but it is not the only financial strain most people deal with. Tunnel vision on buying your dream home oftentimes can damage a person’s monetary portfolio as a whole. Know how deep you can dive before you jump.
- Emotional Price-Perhaps one of the least obvious areas buyers need to think about prior to initiating the home buying process is the emotional value of buying a new home. Do not fall in love with a home so much so that if a bidding war occurs you lose sight of the fact that there are other options. Always remember there are other options. Having a Realtor that fights for your interest helps to keep this perspective and should always be keeping options on the back-burner because real estate is never a for sure deal until the contracts are signed. Heart crushing things happen. Arm yourself with emotional awareness, a great Realtor, and the willingness to have a few favorites (just in case).
TIM HART: FATHER, HUSBAND, AGENT
Hart Real Estate Solutions