Six Essential Home Buying Tips

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    Buying a home is overwhelming and if you haven’t done your homework, it can really cost you. Look over the following six tips that can help prepare you for the home buying process and make sure you come out on top.

    1. Know the area you’re looking in. Many people opt to search based on the home and not the neighborhood, and this can get you the most appropriate house for your needs, but it’s still very important to check out the location. Look into the school systems, property taxes and crime rates to become fully knowledgeable about the area.

    2. Secure your loan qualification before you start looking. Pre-qualification is essential to your bargaining power. Many owners don’t want to deal with the maybes that are involved with people who haven’t yet gotten a stamp of approval from a lending institution. Speak with your bank about the terms and find out what your position will be in terms of a down payment and purchase-power.

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    3. Find a well-qualified agent. Remember that Realtors are paid according to their sales, and that may put their interests ahead of yours. Look for someone with years of experience who has an outstanding reputation. If at all possible, get your agent based on the personal recommendation of someone you know and trust. Also, check with the BBB about the agency you are dealing with.

    4. Know precisely what you want in a home. Have a predetermined list of qualities your family will need with the new house and share this information with your Realtor or buyer’s agent. Such details may pale in comparison to the importance of price, but if you need a double-garage or certain amount of bathrooms, you should be looking at only those homes that can accommodate you.

    5. Bring your own inspector. Once you’ve found a home you’re willing to go to the bargaining table over, get it inspected thoroughly. Hiring your own professional will ensure that your interests are being guarded and that you understand completely what you will be getting yourself into. Ask about any repair, no matter how minor and get a rough estimate as to how much money you will need to invest to get the house in tip-top shape. This info can be used during negotiations and will also help you plan a budget.

    6. Keep your emotional cool. When looking for homes, it’s very easy to get carried away. You can’t help but picture yourself preparing dinner for the family in that incredible new kitchen or decorating the gorgeous bedrooms. This, however, can be dangerous. Don’t allow yourself to get invested emotionally until other details have been accounted for. Make sure it’s affordable, you can handle all repairs and that you’re getting the best possible deal.

    Knowledge is power in buying anything, but particularly with such a large purchase as a new home. Make sure you do your homework and are fully prepared for each step of the home buying process. All your efforts should pay off with the home of your dreams at terms you can live with.

    Click Below to Start Your Property Search Using the Power of TheBostonMLS!

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