Buying a Home

 

Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and for good advice from a real estate professional. When buying a home, you can learn from the knowledge and skill of a Real Estate Agent.

 

What can Real Estate Agents do to help you buy the right home for you?

  1. They will help you determine how much home you can actually afford. They can introduce you to a mortgage counselor and arrange to have you "pre-approved" which can improve your negotiating position and enable you to achieve your home-buying objectives faster and with less stress.
  2. Providing client level services, they can work for you as a buyer's agent and help negotiate the best price and terms for you.
  3. They will help you work out a realistic idea of the home best suited to your needs - size, style, features, location, accessibility to schools, transportation, shopping, and other personal preferences.
  4. They have access to a listing of all available homes in the multi-list system; can evaluate them in terms of your needs and affordability, which will minimize wasted time looking at homes outside your wants & needs.
  5. They can supply information on real estate values, taxes, utility costs, municipal services and facilities, and may be aware of proposed zoning changes that could affect your decision to buy.
  6. They can help familiarize you with the closing process and they will obtain closing figures in advance of closing for your review.
  7. They can provide you with a list of qualified home inspectors, pest inspectors, surveyors, and help to coordinate inspection appointments.

 


 


Buying a Home

Research - Plan - Value

Tips to Successful Home Buying

Tip #1: Research is the Key to Discovery

Home sellers won't call you with an offer to buy a maintenance-free home with a wonderful mortgage. You have to find the gems yourself! Researching available materials, talking with your REALTOR® and other experts, and spending time looking at neighborhoods & schools, will you end up with your American dream.

 

Tip #2: Make a Plan and Get Pre-Qualified

Every important decision needs to be clearly thought out. Developing a home buying plan - focus on the important factors and organize the entire process. Loan pre-qualifying helps determine the home price you can afford and presents you as a genuine prospect to the seller. Plan your actions and get pre-qualified.

 

Tip #3: Value, Value, Value

The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance of the purchasing price.

 

Tip #4: Create a Top 10 List of Amenities

When shopping for a home, list the amenities that are most important to you - fireplace, fenced-in yard, new appliances, etc. Establishing "your criteria" early on will save time looking at inappropriate homes & may keep you from buying a home on a whim. Your top reason for buying a home should be the value you are getting.

Research  -  Plan  -  Value
Research  -  Plan  -  Value

Offer - Mortgage - Inspection

Tip #5: Signing the Contract

Make sure your REALTOR® thoroughly reviews the contract with you and you understand the offer your agent is presenting on your behalf; understand how it allows you to arrange financing, inspect the home and negotiate any problems that may be uncovered.

 

Tip #6:  Mortgage Loan

One of the biggest decisions to make before putting a contract on a home is how to finance the purchase. Your Mortgage Lender can inform you on the various mortgages available: conventional, FHA, VA or USDA, etc. Whichever loan you choose; make sure you’re aware of the costs & terms involved.

 

Tip #7: Get a Quality Home Inspection

Although it is hard to believe, more people pay for inspections before buying used cars than when purchasing their homes. Pay for a qualified home inspection before you buy a home isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs.

 

Tip#8: Home Protection Plans

It may be a good idea to purchase a home protection plan. What exactly is it? A home warranty is a service contract, normally for one year, which may protect homeowners against the cost of unexpected repairs or replacement of their major systems or appliances that break down due to normal wear and tear. Ask your REALTOR® for more information.

Area Listings

The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Indiana Regional MLS®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

Updated: 19th December, 2018 10:24 AM.