ReSET Blog
Blog · July 24, 2017 · AUTHOR: Udi Dorner

5 Tips for Buying a Home

This blog was contributed by Anthony VonPongracz of Keller Williams Realty Denton. See the original here. Want to become a contributor? Email Looking to buy a home? Purchasing a home, especially for first-timers, can be a time-consuming and paperwork-heavy endeavor. Fortunately, there are some ways to make it easier. Here are five essential tips for making the process as smooth as possible. Get your finances in order. Start by getting a full picture of your credit. Obtain copies of your credit report. Make sure the facts are correct and fix any problems you find. Next, find a suitable lender and get pre-approved for a loan. This will put you in a better position to make a serious offer when you do find the right house. Also, be ready to pay tax when you sell your house, and take that into account with your financial status, as well.   Find a house you can afford. As with engagement rings, there’s a general rule of thumb when it comes to buying a home: two-and-a-half times your annual salary. There are also a number of tools and calculators online that can help you understand how your income, debt, and expenses affect what you can afford. Don’t forget, too, that there are lots of considerations beyond the sticker price, including property taxes, energy costs, etc.   Hire a professional. While the Internet gives buyers unprecedented access to home listings and resources, many aspects of the buying process require a level of expertise you can’t pick up from surfing the web. That’s why you’re better off using a professional agent than going it alone. If possible, recruit an exclusive buyer agent, who will have your interests at heart and can help you with strategies during the bidding process.   Do your homework. Before making a bid, do some research to determine the state of the market at large. Find out the best time to sell a house in that neighborhood. Is it more favorable for sellers or buyers? Next, look at sales trends of similar homes in the area or neighborhood. Look at prices for the last few months. Come up with an asking price that’s competitive, but also realistic. Otherwise, you may end up ticking off your seller.   Think long term. Obviously, you shouldn’t buy unless you’re sure you’ll be staying put for at least a few years. Beyond that, you should buy in a neighborhood with good schools. Whether you have children or not, this will have an impact on your new home’s resale value down the line. When it comes to the house itself, you should hire your own home inspector, who can point out potential problems that could require costly repairs in the future. ------------------- SetSchedule has changed the way real estate marketing is viewed, by changing the way REALTORS® access clients and listing appointments. SetSchedule is a “first of its’ kind” exclusive membership based model that provides verified appointments, marketing tools, and elite invite-only networking events for its members. By blending new technologies, and thought processes with proven success methods SetSchedule had incurred record producing results unseen in the industry.

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  • Ayoob Kadir says:
    Home buying can be done easily if a buyer considers a few things. It is important for a first-time home buyer to hire a professional realtor. A real estate agent can help in finding you a home fast. Real estate agents can help in guiding a buyer on the type of home they need to buy. Also, a home buyer needs to make sure they have a trusted realtor by their side.
  • I want to buy a house soon but I've never done it before and I'm worried that I might make some mistakes. Your recommendation to get the finances in order before hand to ensure there aren't any major complications in that aspect could be very helpful for me. Thanks for the post, Anthony; I'll really have to remember to prepare for the mortgage and hire an agent to help the process go smoothly.
  • Marcus Coons says:
    My wife and I are planning on buying our first house this fall and want to make sure we know how to get the process done without too much stress. Thank you so much for talking about the importance of hiring a real estate agent that has experience buying homes and who has your best interests in mind. I can see how doing this can help you get the right paperwork for the type of transaction you want to do and get the house you always wanted at the best deal.
  • I like that you mentioned to start working on your credit in advance before buying a home. That way, you can do everything in your power to get a good rate on your mortgage loan. I am hoping to buy a home soon, and I want to make sure I am prepared. I will work on my credit score before I start looking at homes.
  • Marcus Coons says:
    It really helped when you talked about how hiring a professional can get you access to listings and other resources when buying a house. I can see that understanding this can help you save a ton of money and make sure you get a house that suits your needs. Personally, I would want to make sure I assess my needs carefully and educate myself so I make wise decisions.
  • These are some great tips for buying a home. My wife and I want to buy a new one this year, but neither of us has bought a house before. I'll be sure to hire a professional buyer's agent, like you suggested.
  • I really like the tip to think long term when looking at homes. It makes sense that a home can be somewhere you can raise a family and live out your life. Finding a home that's in a good neighborhood with access to quality schools and stores could be a great way for me to feel more comfortable. Thanks for the tips!
  • Angus Reed says:
    I am thinking to buy a property and I read your post. It contains really helpful information related how to buy a property or a home. Appreciate your work, Thanks for sharing this..!!

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