If you’ve been shopping for a home already in 2020 or are just in the “thought” process, undoubtedly you’ve noticed that the selection of homes isn’t as great as you might like it to be. You could be seeing situations where a home in your price range or a location you like going under contract quickly or there are multiple offers for the seller to chose from. It can be frustrating! Here’s a few thoughts on how you might avoid some of the frustration and get into the home you want.
- Be Prepared, Get Pre-Approved! That means having your financing lined up. You need to know the type of program you’ll be using and the parameters of that program, i.e if you are asking for seller assistance with your loan can you ask for a full six percent or are you limited to three. Don’t be afraid to shop around for rates and closing costs. Your bank is a good place to start, but you’re not limited to just them.
- Hire a Buyer’s Agent. This is the single largest financial decision most people make in their life. Don’t make it without someone there to guide and offer advice. That’s what we’re here for! It does not cost you anything out of pocket and could save you money in the long term. Plus, your buyer agent should be looking for homes that fit your criteria and getting you in them quickly so you don’t lose out. Interview several agents to make sure you are compatible. Ask friends who have recently purchased and look at online testimonials.
- Stick to Your Budget. Know what you are willing to pay each month for your home. You have to be comfortable writing that check. Don’t make yourself “house poor.” You want to have enough left over to enjoy other things in your life.
- Stop Spending!-If you’re shopping for a home, don’t do anything that will effect your credit negatively that could jeopardize your purchase. In other words, don’t buy the furniture for a home that you don’t have yet.
This list is a starting point for your consideration. Help-U-Sell Keystone Realty has helped many, many buyers over the years-first time and otherwise. Feel free to reach out to us for help!