Elaine Pavasaris' Blog
Buying a house should be a fast, simple process. However, problems sometimes can arise that prevent a homebuyer from discovering his or her dream residence.
Ultimately, there are many factors to consider before you purchase a house to ensure you can avoid myriad homebuying hurdles, and these factors include:
1. Your Home Needs
No two houses are identical, and much in the same vein, no two homebuyers have the same definition of the perfect residence. As such, a homebuyer should consider his or her dream home demands prior to kicking off a home search.
Making a checklist of home "must-haves" and "wants" is paramount. With this checklist in hand, a homebuyer will be able to refine his or her home search and map out the property buying journey accordingly.
It may be helpful to consider your day-to-day activities as you evaluate where you want to live too.
For example, if you work in the city, you may want to find a house that is located near public transportation. Comparatively, if you have kids, you may want to consider houses that are located close to top schools.
2. Your Budget
You know that you want to buy a house. On the other hand, you still have no idea how much money is available to ensure you can make your homeownership dreams come true.
When it comes to buying a house, it pays to meet with banks and credit unions. With pre-approval for a mortgage, you'll know precisely how much you can spend on a house.
To get pre-approved for a mortgage, set up consultations with several potential lenders. Then, you can learn about all of your mortgage options and select a mortgage lender that matches or surpasses your expectations.
3. Your Homebuying Timeline
Are you looking to buy a home as soon as possible? Or, can you afford to take a wait-and-see approach throughout the homebuying journey?
Examine your homebuying timeline and plan ahead as much as possible. By doing so, you can boost your chances of finding a terrific house and minimize stress as you browse the real estate market.
Regardless of your homebuying timeline, it always helps to work with a real estate agent. This housing market professional can take the guesswork out of searching for a residence and ensure you can discover a stellar house at a budget-friendly price.
Typically, a real estate agent will keep you up to date about new residences as they become available. He or she also will provide honest, unbiased homebuying recommendations and respond to any homebuying concerns and questions.
Let's not forget about the support that a real estate agent can provide during homebuying negotiations, either.
A real estate agent is happy to negotiate with a home seller on your behalf. That way, he or she can help you secure a great house without having to worry about paying too much.
Streamline the process of acquiring your ideal residence. Consider the aforementioned factors, and you can keep things simple as you proceed along the homebuying journey.
Ready to negotiate the purchase of a new home? Ultimately, employing a real estate agent may help you avoid the stress and anxiety that is commonly associated with a homebuying negotiation.
There are many reasons to hire a real estate agent to handle a homebuying negotiation, including:
1. A real estate agent understands the art of negotiation.
A negotiation is a high-pressure situation, one that may be difficult to navigate on your own. Fortunately, a real estate agent understands what it takes to help a homebuyer get the best price for a house – without exception.
With a real estate agent at your side, you can receive support from an experienced negotiator.
A real estate agent possesses extensive skills and know-how, particularly when it comes to homebuying negotiations. This housing market expert will be able to negotiate with a home seller and ensure all parties are satisfied with the end results.
Furthermore, a real estate agent will dedicate the necessary time and resources to complete a successful homebuying negotiation. He or she will go the extra mile to negotiate with a home seller to help you acquire a home that matches or exceeds your expectations.
2. A real estate agent will keep you up to date at all times.
If you employ a real estate agent, it is important to know that this housing market professional will keep you informed throughout a homebuying negotiation. Lucky for you, a real estate agent will provide updates as you try to acquire your dream residence at a price that matches your budget.
A real estate agent acts as a liaison between you and a home seller. He or she will keep you up to date at each stage of a homebuying negotiation and will require your approval on any homebuying decisions.
Also, a real estate agent will provide suggestions during a homebuying negotiation. As a homebuyer, you always have the option to accept or reject this housing market professional's suggestions.
3. A real estate agent is unafraid to be honest with you.
Although a real estate agent will do everything possible to help you streamline a homebuying negotiation, he or she will provide honest, unbiased recommendations as well.
For example, if you want a home seller to drastically lower the price of a home after a property inspection, a real estate agent will handle your request. And if a home seller rejects your proposal, this housing market professional will provide you with feedback and help you map out your next step accordingly.
A real estate agent will be able to respond to any concerns or questions that you have during a homebuying negotiation too. As such, he or she can provide a valuable resource and offer homebuying insights that you may struggle to obtain elsewhere.
Don't let the complexities of a homebuying negotiation overwhelm you. Instead, collaborate with a real estate agent, and you can speed up the process of purchasing your ideal residence.
As a homebuyer, you likely will want to do everything possible to secure your dream house at a budget-friendly price. Yet for those who are dealing with an aggressive property seller, achieving the optimal results may prove to be challenging.
Lucky for you, we're here to help you simplify the homebuying process so you can acquire your ideal residence at an affordable price – even if you're forced to deal with an aggressive home seller.
Now, let's take a look at three tips to help you deal with an aggressive property seller and accomplish your desired homebuying results.
1. Remain Patient
It may be tough to deal with an aggressive home seller at times, but those who stay the course can buy a house that matches or exceeds their expectations.
Remember, a patient homebuyer generally is a happy homebuyer. If a buyer avoids rash decisions and remains calm, cool and collected when dealing with an aggressive seller, he or she can boost the likelihood of making the best-possible choices throughout the property buying journey.
2. Focused on Your Desired Results
The ultimate goal of the homebuying journey is to find and buy a house that you can enjoy for years to come. In some instances, an aggressive seller may make it difficult for you to accomplish your goal. But if you prioritize the end results of the homebuying journey, you may be better equipped than others to secure a terrific residence.
If you focus on the big picture, you may be able to reduce the risk that minor issues with an aggressive home seller could slow down the property buying journey. And if you do whatever it takes to achieve your desired homebuying results, you may be able to find unique solutions to various problems.
Don't forget to maintain open communication with a seller. If you open the lines of communication with a seller, both you and a seller can work together to ensure all parties are satisfied with the results of a home sale.
3. Hire a Real Estate Agent
If you're uncertain about how to deal with an aggressive seller, you may want to hire a real estate agent. That way, you'll have an expert negotiator at your disposal.
A real estate agent is happy to negotiate with a home seller and his or her agent on your behalf. By doing so, a real estate agent will minimize the risk of potential property buying delays.
Let's not forget about the frequent updates that a real estate agent provides during a negotiation with a property seller, either. A real estate agent will keep you informed about seller negotiations and ensure you can move along the homebuying cycle. And if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them at your convenience.
Manage the homebuying journey like never before – use the aforementioned tips, and you can avoid the headaches commonly associated with dealing with an aggressive property seller.
Ready to buy a new home? Not so fast! You'll first want to establish a budget to understand exactly what you can afford month after month.
What does it take to set up a homebuying budget? Here are three tips to help you establish the right homebuying budget.
1. Consider Your Monthly Expenses
How much do you spend on food, electricity and other monthly essentials? You'll want to consider these costs closely before you begin your search for the perfect home.
Ultimately, your monthly expenses can play an important role in your ability to afford your dream house. And if you can assess your monthly expenses, you can map out your home costs accordingly.
Make a list of your monthly expenses versus your monthly earnings. Then, consider if there are non-essential items that you can remove from your monthly budget.
Remember, if you save money now, you may be better equipped to land your dream house when you kick off you your home search. If you can cut non-essential items from your monthly expenses, you can start saving for a down payment on a new house.
2. Get Pre-Approved for a Mortgage
Banks and credit unions across the United States offer a wide range of mortgage options. Review all of the mortgage options at your disposal, and you should have no trouble getting pre-approved for a mortgage that meets your needs.
Adjustable- and fixed-rate mortgages are two of the most common mortgage options for homebuyers. However, if you discuss your financial needs with a bank or credit union, this lender may be able to provide you with additional mortgage options as well.
After you are pre-approved for a mortgage, you will be able to set a price range for your home search. As a result, you can narrow your search and accelerate the process of finding the perfect home at the best price.
3. Consult with a Real Estate Agent
Real estate agents are available to assist you throughout the homebuying journey. These real estate professionals can put you in touch with lenders, keep you informed about new homes that fall within your price range and even offer tips to establish a homebuying budget.
Perhaps best of all, real estate agents will make it easy for you to explore a broad array of homes that match your budget. These real estate agents can help you determine which homes you can afford – and which ones you can't – and ensure that you can stick to your homebuying budget.
Your real estate agent is committed to helping you get the best results, and he or she is happy to respond to any homebuying queries. That way, you can receive expert guidance as you start your search for your ideal residence.
When it comes to buying a home, there is no reason to browse the real estate market on your own. Instead, work with an experienced real estate agent, and you can find a great home at a budget-friendly price.
Buying a home should be a fun, exciting experience, one that ends with you moving into your dream residence. However, problems sometimes can arise that prevent you from accomplishing your ultimate goal.
No homebuyer should be left in the dark, especially when it comes to navigating a competitive real estate market. Lucky for you, we're here to help you kick off your homebuying journey on the right foot.
Now, let's take a look at three tips to help you launch a successful homebuying journey.
1. Know Your Homebuying Budget
You know that you'd like to buy a house, but how much can you afford to pay for a residence? With a homebuying budget in place, you can determine exactly what you can afford.
Getting pre-approved for a mortgage enables you to enter the real estate market with a budget in hand. Many credit unions and banks are available nationwide, and each lender is happy to provide details about a wide range of mortgage options. That way, you can select a mortgage that matches your finances perfectly.
Also, don't forget to consider the costs of utilities when you budget for a home. And if you need to commute to work or school, you may want to consider your transportation expenses as well.
2. Examine the Housing Market
The housing market usually features a large collection of high-quality houses. Take a look at some of the houses that are currently available, and you can better plan for your homebuying journey.
For example, if there is an abundance of homes available in a city or town where you'd like to live, now may prove to be the ideal time to enter the real estate market. The sheer volume of residences indicates a buyer's market may be in place, so you might be able to boost your chances of acquiring an exceptional house at a budget-friendly price.
On the other hand, if homes are selling quickly in a particular area, it likely means a seller's market is in place. As such, you will need to be aggressive if you want to secure your dream residence at an affordable price.
3. Consult with a Real Estate Agent
The homebuying journey can be daunting, particularly for those who are interested in purchasing a house for the first time. Fortunately, a real estate agent can help you seamlessly navigate the homebuying journey.
A real estate agent possesses comprehensive housing market experience. He or she can share real estate insights with you to ensure you can purchase a great house that meets or exceeds your expectations.
Furthermore, a real estate agent will keep you up to date about new properties, set up home showings and negotiate with home sellers on your behalf. And if you ever have concerns or questions, a real estate agent can respond to them immediately.
Ready to make your homeownership dreams come true? Use the aforementioned tips, and you can enter the real estate market as an informed homebuyer.