THE CRANE TEAM’S TOP 10 BUYING TIPS


 

 

#10: WATCH YOUR MONEY NOW!


It’s not wise to make any huge purchases or move your money around for about 3-6 months before buying a home. If you open new credit cards, acquire more debt or buy a lot of big-ticket items, you’re going to have a harder time getting a loan.

 

#9: GET A “PRE-APPROVAL” NOW!


Getting pre-approved means a lender has looked at your financial information and your credit. Anyone can be “pre-qualified”. Make sure you go the extra step with a mortgage lender for a PRE APPROVAL which will not only give you more buying confidence, but stronger negotiation power!

 

#8: DON’T OBSESS WITH TRYING TO TIME THE MARKET FOR RIGHT TIME TO BUY!


The best time to buy is when you are ready to move, find your perfect house and you can afford it. Real estate is cyclical, it goes up, it goes down and it goes back up again. So, if you try to wait for the perfect time to buy, you are going to miss out on the home you want.

 

#7: REMEMBER THE OTHER MONTHLY COSTS ASSOCIATED WITH THE HOME!


Most buyers tend to focus on only what their mortgage payment will be, but you also need to be aware of the other expenses that will add to that monthly payment, such as: HOME OWNER ASSOCIATION fees for the community, property taxes, insurance, utilities, future maintenance, and home-related items, like furnishings!   Look at ALL the expenses when you are budgeting for your home and the monthly costs.

 

#6: INVESTIGATE THE NEIGHBORHOOD BEFORE MAKING YOUR OFFER


Before you buy, drop by the neighborhood at different times of the day to check out activity, traffic and noise. Many homebuyers have become completely distraught because they thought they found the perfect home, only to find out the neighborhood or neighbors were not for them.  Do your regular commute from the house to make sure it is something you can deal with on a daily basis.  Even if you don’t have kids, research the schools because it affects the value of your home in a very big way. If you buy a house in a good school district values can be elevated as much as 20%! Be sure to review the HOA covenants and restrictions for the neighborhood, too! 

 

­­­#5: LET THE LITTLE THINGS GO AND BE PREPARED TO COMPRISE


When you’re looking at a home, it’s easy to get caught up on superficial details like paint color, fixtures and carpets. These features are easy to change once the home is yours, so don’t let those little details get in the way. It’s rare to find a house that’s perfect in every way, so think carefully about what you’re willing to compromise on and what you’re not. Perhaps an open floorplan is a deal breaker, but an outdated guest bathroom will be tolerable until you can renovate it.

 

#4: BUY A HOME FOR TOMORROW AND POSSIBLE RESALE


It’s easy to look at properties that meet your current needs. Are you planning to have kids? Will you be taking care of elderly relatives? Will steps be a problem for you in 10 years?  Or, maybe you are planning to live in your home for only a few years. In that case, who is your target audience when it comes time to sell the house? If you buy a house in an inferior school district or a house on a very busy street, when you are ready to sell the house, most families with children will be out of your list of potential buyers.

 

#3: MAKING THE OFFER AND NEGOTIATION


Your initial offer should be based on what you and your Realtor have determined the property is worth, based on area sales. Make your offer something that’s fair and reasonable and isn’t going to totally offend the seller. A lot of people think they should go much lower on their first offer. It all depends on what the market is doing at the time and the home’s condition. A lot can be up for negotiation in the home buying process, which can result in major savings. Are there any major repairs you can get the seller to cover, either by fully handling them or by giving you a credit adjustment at closing? Is the seller willing to pay for any of the closing costs, home warranty, HOA fees, cosmetic improvements?

 

#2: AVOID BIDDING WARS THAT BLOW THE BUDGET


In a competitive real estate market with limited inventory, it’s likely you’ll bidding on houses that get multiple offers. When you find a home you love, it’s tempting to make a high-priced offer that’s sure to win. But don’t let your emotions take over; stick to your purchase budget to avoid getting stuck with a mortgage payment you can’t afford

 

#1: HIRE THE RIGHT BUYER’S AGENT


You’ll be working closely with your real estate agent, so it’s essential that you find someone you get along with well. The right buyers agent should be highly skilled, motivated and knowledgeable about the area.  In working with the Crane Team, each client’s personal needs are identified, addressed and fulfilled.  We have over 25 years of experience and have helped hundreds of valued clients find their dream home giving us 5 star Zillow Ratings!  We would be honored to assist you in finding your new home in Jackson or surrounding counties!