We all want the best deal on buying a new home. But with so many factors impacting the final cost, how can you make sure you’re getting the most bang for your buck?
The best way to start is by simply going through the pre-approval process with your local bank. Doing so will get you an idea of your ideal budget and how much of a down payment you’ll need to bring to the table.
Without this knowledge, it will feel like you’re throwing darts as you look through online or print listings of homes on the market.
Follow the steps below to make sure you understand how to go about getting the best deal on your new home.
Find a Reputable Agent
Can you navigate the home-buying process by yourself? Sure. Is it ideal? Probably not. There are a lot of details that go into searching for a new home, and a licensed local Realtor can be your best friend throughout every phase.
Find an agent who offers great service and is responsive in their communications. These are two of the most important qualities of a local agent. Once you’ve found one, you’re ready to move onto the research phase.
Research is Key
Work with your agent to evaluate the prices in the area. Check out pictures, look at materials and finishes in the home, think about lot size, and consider the neighborhood.
Try not to fall in love with the first home you check out. Experts recommending visiting three to five homes at least to make sure you understand all of the pros and cons of various properties. Consider school districts, amenities, and the overall size of the home.
Research is the key to finding a new home and making sure you have realistic expectations of what you can afford on the open market.
Consider Cheaper Options
If you’re young and looking for a first home, you might consider finding an option that is lower on your budget scale and then putting together a plan for fixing it up. This can help you keep some cash in the bank while you work toward improving the home for a higher resale.
This strategy isn’t for everyone. If you’re looking for your forever home and don’t plan on moving anytime soon, you may feel more comfortable landing on a higher-priced option with less focus on your return on investment.
Whatever your plan is, working with a local licensed Realtor can give you a leg up on other possible buyers looking for homes in your market.
Need assistance? We will be happy to meet with you and share our guidance. Schedule an appointment today. Call us at 855-768-8845.