Cliff and Cindy Leinonen Team's Blog
Buying a home is an extensive process that comes with a bit of a learning curve. For first time buyers, this process involves making mistakes and learning from them.
While we can never be 100% sure of our home buying decisions, there is a way to increase your chances of making the best choices when it comes to buying and maintaining your first home.
In today’s post, we’re going to do just that. We’ll take a look at some of the biggest things that homeowners wish they knew before buying their first house.
1. Forgetting to research the neighborhood
It’s easy to become so enamored with your dream home that you barely look beyond its fence. However, the neighborhood your home is in can have a huge effect on your daily life. Having local parks, safe sidewalks to walk on, and road infrastructure that doesn’t drive you crazy on your daily commute are all important aspects of choosing the right home.
2. Getting pressured into making a decision
Many times, a seller will want to portray their home as being highly sought after to encourage higher and more frequent offers. Similarly, you may find that your own family has time constraints and want to make a quick decision to buy a home.
It’s when we’re under pressure that we can make choices that we aren’t happy with in the long run. So, in these situations, make sure you don’t make any snap judgments on a home. If it seems like you’re being pressured into making a decision without enough time to consider all of the possibilities, there’s a good chance you should pass on this opportunity.
3. Forgetting that you might someday have to sell this home
Sometimes homes can be difficult to sell due to things like their location and surroundings. For instance, a home that is remote or one that is located in low-scoring school districts may not matter to you if you don’t plan on having children. But, they likely will be important to a lot of your potential buyers when it comes time to sell the home.
This lesson also holds true for what you do with your home once you buy it. Making renovations or design choices that won’t appeal to the average buyer can make your home more difficult to sell and harder to get top dollar for.
4. Didn’t consider all financing options
There are several steps and several options when it comes to financing a home. Not only are the several mortgage lenders to choose from, but there are also many different types of loans available.
While there may not be one “right” decision when it comes to financing your home, it’s a good idea to do your homework and browse carefully all of the lenders and mortgage types.
Consider ways to increase your credit score or save for a higher down payment before buying if possible, so that you can secure the lowest interest rate possible.
A home showing is a valuable opportunity for a property buyer. In certain instances, buyers will set up dozens of showings to review a wide range of residences. Meanwhile, a buyer sometimes finds the perfect residence during his or her first home showing.
Ultimately, there is no set number of showings that you will need to attend before you find your ideal house. It also is important to note that there is no time limit on a showing, and some showings may be shorter or longer than others.
Regardless of how many house showings you schedule, it is paramount to do everything possible to get the most out of a showing. Lucky for you, we are here to teach you about property showings and ensure you can optimize their value.
Now, let's take a look at three tips to help you prepare for a house showing.
1. Review a Home Listing
A home listing may include various information about a house's age and condition, but you likely will require additional details about a residence before you decide whether to submit an offer to purchase. Fortunately, a home showing enables you to gain additional insights that may be unavailable in a listing.
Take a look at a home listing and put together a list of questions about a home. Then, when you attend a showing, you can receive instant responses to your queries.
2. Give Yourself Plenty of Time
There is no need to rush through a home showing. As such, you should give yourself plenty of time to check out a house and walk through it during a showing.
Oftentimes, it is beneficial to bring a pen and paper so you can jot down notes during a showing too. You also may want to take a camera with you. This will allow you to capture photographs of different areas of a home so you can review them after a showing and decide whether a house is right for you.
3. Consult with a Real Estate Agent
A real estate agent is happy to help you prepare for a house showing. He or she will learn about a home prior to a showing and may be able to provide you with insights that you won't receive elsewhere. Plus, a real estate agent will offer honest, unbiased feedback about a residence and ensure you can make an informed decision about a house.
In addition, if you find a home that suits you perfectly, a real estate agent will help you craft a competitive offer to purchase. And if you ever have concerns or questions during the property buying journey, a real estate agent can provide in-depth responses.
For those who want to get the most out of a home showing, it generally is a good idea to plan ahead. Thanks to the aforementioned tips, you can prepare for a home showing and use this event to analyze all aspects of a residence.
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When you view a home for the first time and speak to the agent hosting an open house or showing the home, you're talking to someone working for the seller -- not for you. Anything you share could be passed on to the seller -- and used to leverage a better offer from you if you do end up wanting the home. The best way to avoid this scenario is to work with a buyer's agent. This is a real estate agent that works for you and helps you get the best possible deal on a home.
A buyer’s agent represents you, the prospective buyer; this ensures that the agent you work with has your best interests in mind and that they do not have a stake in showing you one particular property over another. Just calling the name on a “for sale” sign isn’t enough if you want someone who can truly represent you and your needs – and successfully negotiate on your behalf. Agents who are working for a seller need to sell the home, and are not out to get you the best possible deal.
A buyers agent will show you a variety of properties and help you determine which one meets your needs best. Once you find a property that you love, your agent will help you get the best possible deal. You’ll sign a contract with this agent and they will receive a commission from the seller when you do buy a home. You should make sure that any contract you sign is a buyer’s agent agreement – and that the agent does not also represent the seller of a home. Any real estate agent you are considering working should reveal any conflict of interest before you sign a contract.
Benefits of Working with a Buyer’s Agent
When you work with a buyer’s agent you have someone on your side who can help you through the negotiation process. They will also be aware of market conditions, of terms that would be favorable to you and when you’re ready, help you make an offer. The agent you choose will have a big impact on your success and how much you enjoy the process.
Finding the Right Buyer’s Agent for your Home Search
Any agent you are considering should be a dedicated buyer’s agent. An Accredited Buyer Representative is someone who has been certified in this role. You should ask any agent who you are considering if they also list homes – and determine if there is a conflict of interest.
Choosing an agent who understands your needs and works with buyers like you can also help you have a successful experience. Some agents work mostly with luxury homes and well-established buyers, while others are dedicated to helping first-time buyers find a home.
Your buyer’s agent should be familiar with the areas you are most interested in. If they are not in the immediate area, they may not be able to provide you with the assistance you need to make a great deal
Choose the Right Agent from the Start
Since a buyer’s agent has such an impact on your success and the process, it is important to choose the right person from the start. Interview a few agents to see who you feel comfortable with and who meets your needs best. This is the person that will help you find your next home, so you should be confident in their abilities and able to work with them for a prolonged period of time.