Purchasing a new home can be stressful for many people. Here are eight tips that will help ensure you have the best experience possible.
- Be a pre-approved buyer. A quick and easy financing pre-approval will help to ensure you’re looking at homes in the right price range, and give you an advantage in negotiating the purchase.
- Get connected to beat your competition. We all know that the best stuff at the best prices goes fast, and that applies to housing even more than anything else. To get a leg-up on your competition, get yourself connected with a good Sales Representitive/Broker that knows the market, and can send you new listings quickly.
- Become an expert. Yes, your agent is the market and industry expert. But that doesn’t mean you can’t do some research and become a “home value expert”. Get a good idea of the price ranges of the kind of home you’re looking for, and how long they stay on the market for.
- Put your money where your mouth is. That is, prove you’re a serious buyer. Be prepared to put down 5% or more to get the seller’s attention.
- Present the offer personally. Whenever possible, have your agent present your offer directly to the seller in person. This will give you an edge, and help your agent pick up any critical information during the meeting.
- Keep a cool head. Stay reserved, cool and calculated with your decisions, especially in a hot market. A home purchase can easily be your single largest investment, and you want to be sure you’re getting the best deal.
- Keep it simple. Try to keep your offer to purchase as clean and simple as possible, with minimal contingencies like repairs, inclusions, etc. If you come across as too demanding you chance turning the seller off. Keeping things simple may also help you purchase the property at the best price.
- Use a professional. As tempting as it may be to go out on your own, a real estate professional is a wise move. They’ll represent your interests regardless of the competition or how heated the negotiations get, plus keep you from paying too much and help you maximize your investment. And, they cost you nothing – Sales Representitive/Broker's fees are all paid by the seller, not the buyer.