Tips For Buyers
The best way to make sure that you choose the right home is to properly prepare yourself. The purchase of a home is a tremendous investment, both monetarily and emotionally. The first step in purchasing a home is to find a Realtor that your can feel comfortable with and who you can trust. This would mean a Realtor who is looking out for your best interest during the duration of the transaction as well as after the transaction is complete! Here is a list of tips that I have put together to get you started:
- Get help from a Realtor. Since your home is likely to represent one of the largest investments in your life, it is important to be an informed buyer. In order to make sure that the transaction goes smoothly it is of vital importance that you choose the right Realtor to represent your interests. The right Realtor will be someone whose experience and personality makes you feel comfortable. You should try to find a Realtor that is familiar and knowledgeable about the area you plan to move into and one that will service your needs during and after the transaction.
- Confirm the TREC Brokerage Services for the agent that you would like to use. Texas Real Estate Commission Consumer Protection Notice for your review: Click to View
- Get pre-approved. Do you already know how much home you can afford? There is nothing more frustrating than looking for a home, finding the perfect home, and then discovering that it is out of your price range. Speak with a lender to learn about the different financing options available to you. When you find the right lender get the paperwork processed so that you will be ready to buy when you find the right home.
- Avoid major purchases while purchasing a home! In order to determine the amount of home you can afford a lender uses your debt-to-income ratio. This ratio is the percentage of your pre-tax income that you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt right before buying a home, it may have an impact on the amount of the loan that the lender will finance and could impact your interest rate as well.
- Sign up for Property Watch on my site. In the Dallas market, the best homes move fast! Therefore, please make sure that you are on top of the available listings at all times. You can do this by signing up for the Property Watch on my site. This feature will also help you make an educated pricing decision on homes within your critieria. Also, you can browse all the active listings from my website and once you have found some homes you like, you can save those searches to My Favorites.
- Ask Questions. Only the seller knows their home better than anyone else. However, it is not always in the seller's best interest to disclose all the information about their home. Finding out the seller's motivation for selling may give you more negotiating power. For example, find out when the last time service was performed on the roof, furnace, A/C and water heating. Asking the right questions now can end up saving you a lot of money in the long run.
- Get inspected. Save yourself a lot of time in future renovations by bringing in a licensed home inspector before you buy a home. If any problems are found, this may steer you away from a bad decision or help you negotiate a better price!
- Remember LOCATION! When buying, always consider RESALE. Think of Location, Location, Location!!! and what affects the following may cause during resale: busy streets, power lines, location of master bedroom, retail, etc. Call me to further discuss pros and cons of these!