When house hunting, determine your “must haves” and what your “would love to, but isn’t a must.”
Things to let your real estate agent know about your ideal home:
- Price
- Shop within your budget, the way the market is right now, I recommend you shop for homes that are about $50,000 below your ideal price point. The reason for this is because there is little inventory for the amount of qualified buyers that there are in the market. So, many homes are getting OVER asking price. This will give you some wiggle room to come in strong on your offer. Talk with your realtor about more ways you can make your offer stand out.
- Square footage
- Have a range here.
- Home condition and possible need for repairs
- Are you willing to put in some work or do you prefer turn key ready?
- Access to public transportation
- Do you commute for work, would you prefer to be in close proximity to bus stations and other public transport?
- Number of bedrooms
- Would you want an office, bonus room, exercise room?
- Master on main?
- Backyard/swimming pool
- Exterior features of home
- Size of lot
- Garden area
- Outdoor kitchen, etc.
- Exterior features of home
- Local entertainment options
- Do you go to the movies a lot or love shopping?
- How close would you like to be to shops, dining, movies?
- Do you go to the movies a lot or love shopping?
- Local school district ranking
- Do you have children?
- What kind of schools are you interested in?
- Public schools and there ranking?
- Charter schools?
- Private schools?
- What kind of schools are you interested in?
- Your realtor can help you locate these details so that you can make an informed decision that works for you.
- Do you have children?
- Property/real estate taxes
- This goes right along with the budget you set in Part 1 of buying a home.
- Depending on the location you want to live in, this number could change drastically. Determine what amount in property taxes is too high for your budget.
Now you’ve found the home, it’s time to Make an Offer! Keep in mind that depending on the market in your area, your offer may be one of dozens of offers. Don’t get discouraged if the first offer you write isn’t accepted.
Once you have an accepted offer:
- Congratulations, you are now UNDER CONTRACT!
- Your Realtor® will help you with the entire process which includes things like:
- Scheduling a Home Inspection
- Home Appraisal (it is usually the lender that orders the appraisal, your real estate agent will keep in touch with your lender to keep things moving along)
- Negotiate for Repairs or Credits
- Schedule a Final Walkthrough
- Schedule Closing on your new home with title company or real estate attorney.
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