Points to consider while buying your dream home
>> Friday, 9 August 2013
Determine your goals – Be clear as to what type of house you require. Ask yourself if you are looking to buy a house to increase your resale or to obtain the maximum square footage for the penny you spend. If you fail to clarify your goals, you will end up buying a home that really won’t fulfill your longer term needs.
Locality – You need to consider your location must haves because the price varies from location to location. If your aim is to maximize your profit, you might buy a fixer upper home in the most popular area. But if you desire for a big home for your thrifty budget, then check for homes in developing areas or further away from the main towns.
Know your realistic budget – Work with a lender to scope out what you might qualify for but many times that is more than you can really afford when you consider all your other expenses, travel desires, etc. It’s very tempting to go over budget but stick to what is affordable and certainly stay under what the lender says you would qualify for.
Hire an experienced real estate agent – Hiring an experienced agent is a sound idea. They will have Nevada County MLS listings of available homes but many times with their connections they may know of other homes not on the market yet. With their in-depth local knowledge they can help you save big by knowing what the fair value of a home is and negotiating prices. They might also have some alternative areas to look into that you might not initially have considered as there are always tradeoffs to be made. But, at first interview several agents, check how knowledgeable they are and ask for recent success stories.
Emotionally you certainly can become attached to your potential new home but an experienced agent can help point out any pitfalls or other issues to consider before moving foward. Only then you can make a wise decision.
