10 Essential Real Estate Hacks Every Homebuyer Should Know
Buying a home is likely to be the biggest purchase you ever make. If you are a first-time buyer or seasoned investor, finding the best hacks will save both time and headache. We have compiled ten home buyer hacks to help YOU buy a house guaranteed.
1. Always Start with Pre-Approval
Do not waste your time browsing listings without first being pre-approved for a mortgage. This step will provide you a better idea to be affordable, encourage seller of your streamline buying habits and make it more attractive sell.
2. Think About the Marketability of a Neighborhood Over Several Years.
Remember to look at the future when you think about houses. Keep the long-term of neighborhood in mind Get familiar with new constructions, Report Card of the School and rate of crime. The right location can make a big difference in the future value of your property.
3. The Bones, Not the Pretty Stuff
It's easy to get distracted by a home that is nicely decorated in good taste or up-to-date due to current trends — what you should be looking at now are the bones! Changes like paint and fixtures are cheap, but structural problems can be expensive to repair.
4. Use a Buyer’s Agent
A buyers agent works for you ONLY, NOT the seller. They are on your side and they can be used as leverage to get you a better deal. Additionally, their commission is often by the seller—so buyers do not end up paying anything to use an agent;making them a wallet-friendly option for buying.
5. Go to open houses — but go with a discerning eye!
BE PICKY AT OPEN HOUSES Remember, the actual room is what you want to focus on — not all of this white staging! Look for water damage, check the foundation or systems that may not have been updated.
6. Do Not Forgo Home Inspection
A home inspection is crucial. It finds problems that are just too hard to make them out while the source code is walked through. Be sure to always bring in a certified inspector to see the property before you close on it.
7. Most importantly - Know The Total Cost Beyond The Purchase Price:
Keep in mind, the price of a home purchase is not limited to its purchasing cost. Think about closing costs, property taxes, homeowner's insurance and maintenance expenses in your budget.
8. Be Prepared to Walk Away
Do not become emotionally attached to any property. If it feels wrong, you have to peace. Another home is always out there and you do not want to rush into something chance that costs more than $100,000.
9. Consider Future Resale Value
Resale value should come into play, even if you intend to live in the home for an extended period of time. Things like location, school district and the overall market will affect how easy is it for you to sell your home in future.
10. Negotiate Beyond the Price
It does not end with price negotiation. This includes closing costs, repairs (maybe), and even appliances. And last but not least, don't be afraid to ask for what you want - worse case they say no.
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