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10 Things to Take the Trauma Out of Homebuying |
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Tuesday, 03 April 2007 |
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A few good tips to get you started on your search for the perfect home. Let me also suggest you take the time to listen to my podcasts on this subject. You can start with my show on how to pick your real estate agent .
1. Find a real estate agent that’s
simpatico. Homebuying is not only a big financial commitment, but also
an emotional one. It’s critical that the agent you chose is both
skilled and a good fit with your personality.
2. Remember, there’s no “right” time to
buy, any more than there’s a right time to sell. If you find a home
now, don’t try to second-guess the interest rates or the housing market
by waiting. Changes don’t usually occur fast enough to make that much
difference in price, and a good home won’t stay on the market long.
3. Don’t ask for too many opinions. It’s
natural to want reassurance for such a big decision, but too many ideas
will make it much harder to make a decision.
4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
5. Don’t try to be a killer negotiator.
Negotiation is definitely a part of the real estate process, but trying
to “win” by getting an extra-low price may lose you the home you love.
6. Remember your home doesn’t exist in a
vacuum. Don’t get so caught up in the physical aspects of the house
itself—room size, kitchen—that you forget such issues as amenities,
noise level, etc., that have a big impact on what it’s like to live in
your new home.
7. Don’t wait until you’ve found a home
and made an offer to get approved for a mortgage, investigate insurance
availability, and consider a schedule for moving. Presenting an offer
contingent on a lot of unresolved issues will make your bid much less
attractive to sellers.
8. Factor in maintenance and repair costs
in your post-home buying budget. Even if you buy a new home, there will
be some costs. Don’t leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse is
inevitable and will probably pass. Buying a home, especially for the
first time, is a big commitment, but it also yields big benefits.
10. Choose a home first because you love
it; then think about appreciation. While U.S. homes have appreciated an
average of 5.4 percent annually over from 1998 to 2002, a home’s most
important role is as a comfortable, safe place to live.
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