Hire the right buyer representative
You will be working closely with your real estate agent, so it is important that you find someone you can get along with. The good buyer must be highly qualified, motivated and competent.
Choose the right type of house and the right neighborhood
You can expect to buy a family home, which could be ideal if you want a large deck or lots of space. But if you’re willing to sacrifice space for less maintenance and additional services, and don’t mind paying an owner’s club fee, a condo or townhouse may be better. But even if the house is correct, the neighborhood could be completely wrong. So make sure: Look for schools nearby even if you don’t have children because they affect the value of the house.
Check local crime and security statistics.
Find the nearest hospital, pharmacy, grocery store and other services you will use. Drive around the neighborhood for several days and at different times to check for traffic, noise, and activity.
Stick to your budget
Find out which properties cost less than the amount you were approved for. Although you can technically pay your pre-approval amount, this is the limit and does not take into account other monthly expenses or problems such as a broken dishwasher that occurs during the property, especially immediately after purchase. Buying on a tight budget is also helpful when it’s time to make an offer.
In a competitive real estate market with limited inventory, you are likely to bid on houses that receive multiple offers. When you find a home you love, it’s tempting to strike a high-priced offer that is sure to win. But don’t let your emotions take over. If you buy below the amount of your pre-approval, there is room for auction. Stick to your budget to avoid paying a mortgage you can’t afford.
Get the most out of open doors
If you visit houses on open days, pay close attention to the general condition of the house and look for odors, stains, or items in poor condition. Ask lots of questions about the house, for example, B. when it was built, when the items were last replaced and how old are the key systems such as air conditioning and heating.
If other potential buyers are visiting the home at the same time as you, you can schedule a second or third visit to take a closer look and ask private questions.