In the world of real estate, knowledge is key to a successful experience when buying a home. #Trending Real Estate Reports Presents: 5 helpful tips for the first time home buyer
1.LOCATION IS EVERYTHING! It’s important to come into the
process of looking for a home with a game plan, such as doing research on the
areas that you want to live in. How close or how far are those areas from your
work? If you have kids, check out the local public schools. If you're the outdoors
type, contact the local Parks and Recreation Department, and get a list of the
best spots for outdoor fun. Drive around the neighborhoods and check out the
neighbors. Do you want a social younger generation living next door, or do you
prefer a quieter older crowd? Check out this location day and night and walk
the streets to really get a feel for your surroundings. This could potentially
be your neighborhood, and you want to be sure it’s a place that you want to
call home.
2. MAKE A BUDGET! You never want to underestimate the costs of
owning a home. What’s your price range? Is your price range reasonable for the
location that you picked out? You never want to spend more then your able to,
just so you can be in a certain neighborhood or location. Figure in every
expense, such as mortgage payments, utilities, insurance, maintenance/upkeep,
and TAXES. You can always contact the local Tax Assessor's office in your area
to help with figuring out how much you'll be paying. Don't forget to consider
the age of the homes you are interested in viewing. Make a mental note on how
well the previous owners or current sellers have kept up the properties.
There's a difference between, "needs a little work" and "turn
key ready." You don't want to fall in love with your dream house and have
together your perfect budget, then find out you will need to spend much more on
a new roof or plumbing system.
3. FIND A GOOD REAL ESTATE AGENT! A buyer’s agent is going to be
the advocate you need during the process of buying a home. You want to do your
research to find a qualified agent. One way you can start this process is by
asking friends or family members if they can recommend an agent to you. Word of
mouth is a powerful tool. If your friend or family member is willing to vouch
for the agents expertise, then more then likely the agent will also be able to
help you! Another way is to go online and do a search in the area that you’re
looking to buy in. You want to have an experienced agent who is not only
knowledgeable about the area, but who has experience closing properties in the
area. Interview the prospective agent before agreeing to utilize their
services. You want to make sure the agent is going to give you the service and
attention you are looking to have, and that the agent will have your best
interest at heart. (Which should always be most important).
4. CHECK OUT MULTIPLE LISTINGS! Even if you fall in love with the
first house you see, you want to be able to have something to compare it to. It's
important to make a list of your must haves when viewing properties, so that
the agent will not waste any of your time showing you homes that do not fit
your needs. Keep in mind that buying a home is a big commitment, and you have
every right to see as many properties as needed before you make your decision.
You will know when it is the right one! Utilizes services like the multiple listing service on our website to help you get started in the Rhode Island Area.
5. SAY YES TO INSPECTIONS! The potential seller is not under oath.
The words, "do you swear to tell the truth, the whole truth, and nothing
but the truth so help you god", mean nothing to them! Don't let that fresh
new paint smell fool you. It is always a wise decision to agree to a full
inspection of the property that you are interested in buying. A professional
inspector knows what to look for, and will notice more important details then
the average person. Don't be afraid to add a few extra dollars to your budget,
so that you can spend a little extra on your inspector. In the end, he or she
will be saving you much more then your initial investment, and it will be well
worth it!
