There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances.
A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several financial benefits – equity build up, value appreciation, automatic savings plan – not to mention a new sense of pride!
Start looking at your options today. You don’t have to know everything. Your Keller Williams agent is ready to help you through every step of the process.
A great real estate agent will:
- Educate you about the current conditions of the market.
- Analyze what you want and what you need in your next home.
- Co-ordinate the work of other needed professionals throughout the process.
- Guide you to homes that fit your criteria and budget.
- Negotiate on your behalf to get you the best deal possible.
- Check and double-check paperwork and deadlines.
- Inform and discuss with you, and suggest solutions to solve any problems that may arise.
What will the consultant do for you?
- Review your current financials.
- Discuss the options available to you during the home purchasing process.
- Guide you to an appropriate price point.
- Negotiate on your behalf to get you the best deal – price, interest rates, loan approval.
- Keep you informed and updated of the entire financial process throughout your purchase.
Some questions you might ask yourself include:
- What amenities are crucial for you and your family?
- How much space do you need and why?
- Which is more critical: location or size?
- Would you be interested in a fixer-upper?
- How important is home value appreciation?
- Is neighborhood stability a priority?
- Is accessibility to main routes a priority?
- What features are not negotiable in your new property?
You’ll learn as you look at homes, your priorities will probably adjust along the way.
Some things to consider when deciding on the best price point are:
- List price – Start with the price point that the home is listed at. This will give you a base when looking at the home’s value.
- Market Analysis – Your agent will give you an idea of comparable home values in the neighborhood to help you decide if the price point is on par.
- Improvements – Your agent can give you a list of improvements made to the home and help you determine its market value.
Knowing what work has and has not been done to your home is important information to have in the buying process. While updates can increase your home value, damages can take money out of your pocket. Your main concern is the possibility of structural damage, which can come from water, shifting ground or poor construction.
Very often a problem appears to be big, but can be fixed with very little effort and not a huge budget.
- Staying in control of your credit and finances – Do not make any large purchases during this time. It’s important to keep your financials steady throughout the buying process. Talk to your financial consultant for guidance.
- Keeping in touch with your agent and financial consultant – It’s important to stay in constant communication with your Keller Williams agent and financial guide during this process. Be sure to return all phone calls and complete paperwork promptly. Also, don’t be afraid to ask questions. Your team is there to help you!