Buying Overview
4 Questions to Ask Before Buying a Home
Whether you’re a first time home buyer or a seasoned real estate investor, buying a home is an exciting process. However, there’s also a lot to consider when you decide to buy. So before you begin your search for the perfect property, here are four questions you should ask yourself.
What Do I Want?
Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, factors like crime rate and proximity to highways can impact the overall home-owning experience. A good idea is to list out and prioritize your needs (e.g. large backyard, great school system) before you begin your search.
What Can I afford?
The rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. An alternate rule states that you can afford to buy a property that runs about two-and-a-half times your annual salary. For a more tailored look at what you can afford, use our online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.
Am I Financially Prepared?
A few months before you start searching for a home, review your credit history and make sure it is in good standing. Get copies of your credit report, ensure that it is accurate, and fix any issues that you discover. You’ll also want to get pre-approved for a home loan, which will put you in a better position to make a serious offer once you find the right property. Pre-approval from a lender is based on your credit history, debt, and income.
How Do I Make the Best Offer Possible?
Do your research! Your opening offer should be based on the sales trends of similar homes in the area. So before making your opening offer, get online and review the selling prices of comparable properties. If these properties sold for less than the current asking price of the home you’re looking at, you can feel comfortable making an offer that’s slightly lower than what the seller is asking.
WHY CHOOSE OUR TEAM?
- Extensive Local Knowledge
- We are experts in local areas. Our team knows the streets almost as well as the firemen and our GPS. With this local knowledge, we will:
1 ) Get you acquainted with every neighborhood in your price range.
2 ) Help you identify the areas you are not as fond of.
3 ) Focus on the areas you like.
4 ) Provide you with useful local knowledge, help you understand the local market conditions.
5 ) Take you to see potential homes as soon as possible.
- Expert Negotiation
- Our expert negotiation strategies have helped buyers buy their home at the best possible price. Most of our buyer transactions are multiple offers, and we're proud of our high success rate representing clients. Our team will:
1 ) Advise you on how to write an impressive, compelling offer.
2 ) Strategize when competing with multiple offers.
3 ) Separate your offer from everyone else's.
4 ) Ensure your offer is presented.
5 ) Get you your home at the best possible price.
- Reputation
- Who you choose to represent you is incredibly crucial not only for you, but also for the competitive market. We have a good reputation among our clients. Also, our relationships with our colleagues are long-standing, which helps our clients in buying and selling their homes.
1 ) Treat colleagues as colleagues, not competitors.
2 ) Keep a small clientele in order to provide the very best service.
3 ) Our clients know they are receiving the best possible attention and service.
4 ) On average, our clients see less than ten homes before purchasing.
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