Buying a home is likely the biggest financial commitment you’ll ever make. As such, deciding when and where to start your home search takes a little planning for worry-free results.
And although the real estate market can be unpredictable, you can develop a strategy right now that’s aimed at helping you find your dream home today.
Here are three best practices for finding your dream house right now:
1. Know Your Purchase Power
Don’t skip the most crucial step in searching for the perfect home. Indeed, you’ll save yourself some stress and worry by getting preapproved for a mortgage before calling your local Realtor. You should also know that some Realtors won’t show homes without a preapproval letter from a lender.
The process of getting preapproved lets you know just how much purchasing power you have and keeps your search within the realm of what you can afford — and that’s rather important. After all, nothing is worse than finding the home of your dreams and later finding out it’s out of your ballpark.
For that reason and more, partnering with top real estate agents will allow you to see a full inventory of homes within your price range. Popular cities such as Austin, Texas, and Salt Lake City, Utah, have seen an uptick in newcomers over the last couple of years. And if you’re looking to buy in one of these hot markets, you’ll be ahead of the game and ready to find your dream home with a preapproval letter in hand.
2. Hire the Right Real Estate Agent
If you’re hoping to move to Tampa, Florida, this year, you’ll learn a lot more about your real estate options when you hire the right real estate agent to help you navigate the process. For entrepreneurs living in Florida for example and registering a Florida LLC, the right real estate agent can play a great role in finding your commercial building. Search Realtor websites and online profiles, read agent profiles, and check out client reviews.
If you have friends or family living in the area, they may be able to recommend a top-of-the-line agent. You’ll want to work with a real estate agent who has a proven track record of professionalism and customer satisfaction.
You’ll also want to get answers to these and other important questions before hiring a Realtor:
• Will the agent represent my sole interests or also represent the seller?
• What experience and education does the agent possess?
• How much will the agent be paid?
3. Make a List of Your Must-Have Features
Do you know exactly what you want in a house? Are there certain amenities you just can’t do without? Make a list of must-have features so your real estate agent knows exactly what you’re looking for. However, maintain a certain degree of flexibility in case home inventory is low when you are searching.
Although you may have to compromise on a few features, consider negotiating with the seller on what’s lacking and ask if they would be willing to make some concessions in order to sell their home more quickly. Don’t like the wallpaper or paint color? You can always make a few cosmetic changes if the house you love needs a little facelift.
It’s Closing Time
Moving day is here! Celebrate closing on the house of your dreams by planning a welcome party. Don’t forget to share good vibes with your real estate agent, who helped you along the journey by posting a review on the agent’s website. And finally, share the news of how you found your dream house with others and spread good cheer as you cross the threshold of your home sweet home. Cheers!