One of the most important purchases a person will make in his or her lifetime is buying a home. The best approach you can take when looking for your dream home is to educate yourself, partner with an experienced Realtor, and be prepared for the process. Here are five helpful tips to get you started:
Get a Pre-Approval Mortgage Letter
A mortgage pre-approval is a letter from a lender saying it will provide you with financing to purchase a home up to a specified loan amount. When you make an offer on a house, it is best to have one of these letters on file if you want to compete against other buyers.
Know the Market
Be informed about your current housing market down to the neighborhoods you are looking to purchase a home. The best way to do this is to partner with a real estate professional in your community as he or she will be up-to-date on the status of inventory and recently sold homes.
Check Your Emotions at the Door
Buying a house is an investment, so it is best to approach the situation in a calm and intelligent manner. If you fall in love with a property, you may end up compromising your financial decisions. It is acceptable to lead with your instincts, but do not base a home purchase solely on your emotions.
Spend Time in the Neighborhood
If you are looking to buy a home in a neighborhood you are unfamiliar with, be sure and case the area at all times of the day! Do a trial commute to and from the area to make sure the traffic is something you can deal with on a daily basis. Check-out distance and accessibility to stores and amenities. Research the schools in the area, even if you do not have children, because school districts can affect the value of your home as much as 20 percent.
Be Prepared to Compromise
While it is a great idea to prepare a wish list of characteristics you are looking for in a home, be prepared to compromise. No home is perfect, and there is a good chance that most homes will not have every characteristic on your list.
For more homeowner information or to find a licensed real estate professional, please contact the Sierra Nevada Realtors at 775-885-7200 or SierraNevadaRealtors.org. Sierra Nevada Realtors is the voice of real estate in Carson City and the surrounding areas. They are committed to building better communities throughout the region, and participating in the political process to protect the industry as well as private property rights.
Leslie Cain is president of Sierra Nevada Realtors and a Realtor with RE/MAX Realty Affiliates in Carson City. Leslie has been active in the real estate industry for nearly 14 years. She holds several certifications including Certified Residential Specialist (CRS), Accredited Buyer’s Representative (ABR), and Senior’s Real Estate Specialist (SRES). Leslie can be reached at Leslie@LeslieCain.com or 775-781-1386.