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Home Buying Secrets to Turn You Into a Real Estate Maven
Buying a house is one of the biggest—and hopefully one of the best—investments you will ever make. That being said it can be nerve wracking, especially if it's your first home. Our real estate agents want to help you make the best and most informed decision possible which is why we're offering share some of their favorite tips that will help take the mystery out of buying a house.
Secret #1 - Buy a Home You Can Easily Afford
One of the biggest mistakes first-time home buyers make is buying a house at the top of their price range. This puts them in a very precarious financial position. If something happens--like getting laid off at work or having to make a costly repair, they might find themselves in serious trouble. You never want to be one paycheck away from foreclosure, so always buy a house that won't completely wipe out your savings.
Secret #2 - Don't Rely On Emotions
It's easy to fall in love with a house that isn't really right for you. Sure, it has an awesome kitchen island and it's painted your favorite color, but does it have everything you really need, like the right number of bedrooms, a safe neighborhood, and a short commute to work? Keep your emotions in check to avoid getting invested in a house that will only let you down. The goal is to find a great house at a good value.
Secret #3 - Get a Great home Inspector
If you're new to the home buying process—or even if you're not—a skilled home inspector can be your best friend. An inspector will notice things that the average home buyer wouldn't necessarily see. Follow him around with a clipboard asking questions and taking notes on any potential issues. You might decide that the house wasn't such a great value after all, or you might wind up with some bargaining tools if you do decide to move forward with the purchase.
Secret #4 - Get a Fixed Interest Rate
A fixed interest rate on your mortgage means you won't have any surprise increases down the road. The secret to getting a mortgage with the best possible rate and terms is to know your credit score. If your credit score could use a little work, take the time to rebuild your credit before buying a house. The financial benefits will be well worth it in the long run.
Secret #5 - Don't Be Afraid To Renovate (But Don't Buy a Lemon)
There's nothing wrong with a fixer-upper, but some repairs are not worth making, financially speaking. If a house has issues with the roof or foundation, walk away. But if a home just needs a little surface work, like new fixtures, a fresh coat of paint, or less dated carpeting, don't be scared off by what you see on the surface. If you're willing to put in a little work, you can often get a great deal.
Secret #6 - Work With a Trusted Real Estate Agent
It's impossible to overstate the benefits of having a skilled, trustworthy real estate agent on your side. An good agent knows the neighborhood you're looking at backwards and forwards, and has years of experience tracking the local real estate market. That makes it much easier to get a good deal on a great house.
Contact Cressy & Everett Real Estate to learn more about buying your next home—or your first home—today. Our team has the expertise to help you make a sound decision that will put you in a house that you'll be happy to call home for years to come.
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