3 Tips for Homebuyers

Are you in the market for a new home? Have you been searching for the perfect place? Here are three tips to get you started.

Budget Know your budget. Getting pre-approved by a lender is the first step in the home-buying process. Before you start browsing the Internet, meet with a lender to figure out how much you qualify to borrow. Choose a lender you trust or ask your real estate agent/broker for a recommendation. If you are paying cash for the home, you can skip this step altogether. Income and credit score are just a few of many factors in determining the amount you will be approved to borrow, which is why it’s important to get pre-approved and not just pre-qualified. Your agent/broker will be able to better identify properties that fit within your budget. This will allow for a realistic approach to your home search, as well as save you time when you are ready to make an offer (since you will already have a pre-approval letter). 

Neighborhood When browsing for homes, it’s important to also browse neighborhoods. The structure of a home is very important – number of bedrooms and bathrooms, amount of natural light, size of the yard, garage space, pool, adequate street parking, laundry accommodations, etc. The neighborhood is equally as important. Take a look at the surrounding blocks and any nearby areas of interest. You want to like the place where you live. Is it near your favorite coffee house, gym or retail store? Is it commutable from your work or kid’s school? Do you have friends or family nearby? Ask yourself what’s most important for you to have in a neighborhood, and then narrow your search down to the houses in those areas. That way, you get to live in the house you choose, in the neighborhood you love.

Easy Fixes Don’t let easy fixes become deal breakers. If you find a house that you really love, but are discouraged by a few of its’ aesthetic qualities, don’t give up on the house quite yet. Here are some examples. If you don’t like the current paint color, choose a different one and paint over it. If you don’t like the window treatments, switch them out. Doors, handles and knobs, counter tops, flooring, islands, appliances, small fences, and non-support walls and beams can all be removed and/or replaced. If the home is staged or occupied, furniture placement or room usage can be altered to suit your needs. Some of these fixes are minor, and some can be costly. However, it might be worth the cost and time involved if it means customizing your living space. No home is perfect, but you can make it perfect for you.

Share some of your favorite tips in the comments!