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Tips for Smooth Home
Purchase
We provide real estate services to buyers
and sellers in Pennsylvania (Berks County, Chester County, Delaware County,
Montgomery County, Philadelphia, Drexel Hill, Haverford Township, Havertown and Upper Darby) as well as in
New Jersey (Brigantine, Atlantic City, Ocean City, Camden County and Gloucester
County).
Buying a new home can be an exciting time, whether
it’s your first home or your fifth. However, your savings, your credit rating,
and your financial freedom are all on the line when purchasing a new home. You
want to feel comfortable when it is time to sign on the dotted line and feel
good about the home you are about to purchase. It’s important not to let your
emotions cloud your judgment when you set out to buy what is most likely the
largest single item of your life - your new home.
Before you get to actually looking at homes, take the time to establish your
needs and wants. Make a careful assessment of what you absolutely must have in
your new home compared to what would just be nice. Be as specific as possible
when determining your needs prior to purchase. It will save you much time and
concern to do this before looking rather than getting into a new home only to
discover that it doesn’t meet your needs.
Determine how much you can afford in a home loan and get pre-approved. Set up a
budget for monthly payments and be realistic. By assessing your financial
situation and getting pre-approved, you can be certain that when you select a
new home, you will have the financial backing to get you in as quickly as
possible. When considering the purchase of a home, don’t just look at your
current financial status. You will probably be in this home for years, and many
things can change. Take your future into account as well, looking at such
things as job changes and a growing family.
Once you begin the process of searching for a home, don’t let emotions cloud
your judgment. Just because a house has a nice lawn or some interesting
architectural features doesn’t mean it is the perfect one for you. While it is
important to consider the aesthetics of a property, consider that much of what
you see can be changed. Never judge a house by how the current owner has
decorated. Most likely, whatever is inside the house will be gone when the
seller leaves, and it will be up to you to paint and decorate.
Take the time to view several homes. This doesn’t mean look at every house
available on the market, but look at enough properties to get a good feeling
that you aren’t just making an impulse buy. Also, do not preview
homes for an extended period of time. Try to see several homes within
the shortest time possible--then make a decision. Otherwise, the home
you saw early on that you realize you want to put an offer on may have already
been sold. When you find the right home, all
the work you do in this process will pay off.
Once you have selected a home that you feel is right, inspect it thoroughly. Be
sure the home is inspected by a professional home inspection company, and go
over that report with a fine-toothed comb. By taking the time to do this before
making the purchase, you can save yourself an endless amount of stress after the
fact. Don’t take anything for granted. There are many pitfalls that can
surface during the process, and it’s vital that you take care of these problems
before you move in. When inspecting your home, check for working utilities so
there are no surprises later on. Check out all costs and expenses before you
sign anything. Taxes, insurance and homeowner dues may appear, and you need to
know all of them. Ask as many questions as possible and be very conscious of
details.
Use your home-buying team as much as possible. Align yourself with the right
real estate professional and you will have an entire team of reliable lenders,
title representatives and home inspection companies available to you. Each of
these people should work hand in hand with you and each other for your benefit.
Be sure to do a final walk through once all the previous owner’s furnishings
have been moved to be sure of no surprises. Be absolutely positive the property
is in exactly the same condition that you agreed upon in the contract. Things
that could not have been spotted before are often unintentionally overlooked.
Plan for flexibility. Closing dates are not carved in stone. Allow for certain
contingencies and always have a back-up plan in the event that delays occur.
These types of circumstances are not at all uncommon in real estate
transactions, so it is important that you are prepared for them.
Any and all promises and agreements must be written. If it is not in writing,
then assume that it doesn’t exist. Even the best of intentions can be
unintentionally misinterpreted, so take the time with your REALTOR to be certain
that all agreements have been signed on paper.
Remember, your team will work best for you if you are honest and up front with
them. Take the time to select the right team of professionals to get you into
your new home and do everything possible to make this an enjoyable experience.
They will return the favor by getting you into your new home as smoothly as
possible.
Choose your agent wisely. Working with a full-time professional real estate
agent is a must. Ask questions of your agent. Find out how knowledgeable he or
she is about houses currently for sale in your price range and also of houses
that have recently sold. Can your agent recommend a good lender that has the
reputation of excellent customer service and low rates? Does your agent ask
questions of you to have a full understanding of what you are looking for to
help you get the most home for the money?
To receive
your FREE copy of Homebuyer's Handbook or Homeseller's Handbook, click here.
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