Most tips for buying a home start with figuring out how much you can afford and applying for a home loan (which are great tips and we recommend you do both of those things when shopping for a new home).
But what else is there? Are there lesser known tips for buying a home that can make a big impact? Yes!
From both our experience and that of our real estate colleagues, these are the top little-known secrets for buying a home you’ll love.
There have been situations where the previous owners of the property “blurred” the legal property lines, taking a bit more space than is actually theirs. Rather than discover that you need to move your fence three feet inward or possibly have to remodel your garage because it's extended too far past the property line, get a surveyor to map out the legal property lines.
It’s the American dream to own a big home. Indeed, we often measure our success by how big or expensive our home is, and it’s only natural to want the nicest house on the block. But consider this: if you plan on re-selling your home, the best house on the block will appreciate less than the others. Home values are based not only on the individual home but also on the surrounding homes --essentially placing a cap as to how much houses go for in that area.
You may hear terms like “buyers market” and “seller's market” (we use these terms as well) but the reality is that ANYTIME is a good time to buy. Home prices and rates go in cycles, though they can’t necessarily be predicted. So if you are waiting for the market to be just right before you buy a home, you’ll be waiting a while.
Some people make the mistake of falling in love with a home so fast that it fogs their ability to see potential problems. For example, buying a home because it has a custom-built treehouse and playset for the kids but overlooking that it will add 20 minutes to your work commute is a problem. Buy on logic and instinct, and don’t rely too much on emotion.
To get a real feel for what it’s like to live in the neighborhood, you have to visit it during various times of the day and night. For example, all may seem quiet on a Tuesday afternoon, but what you don’t know is that your future neighbor likes to work on his car Saturday afternoons with his tunes. Is that okay with you? Just like dating someone before you commit, date your neighborhood before you say yes.
Did you find these tips helpful? Share it with a friend and contact us for the first step of buying a home --prequalifying for a mortgage!