How to Buy a Home

23 Sep

Since I haven’t had the opportunity yet to buy my own home, hopefully this will occur in the next couple of years, I take every opportunity in the meantime to watch shows and learn about the process and what to look for when looking to buy your first home.

There are four tips you should keep in mind in order to know how to buy a home and furthermore how to get a good deal.

How to Buy a HomeFirst of all, it is important that you know the market. Whether you are staying close to your current location, or completely relocating, do your homework so you know exactly what the house is worth that you are looking at. This will increase your chances of getting a great deal. You can look at commercial sites such as zillow.com to find comparables to aid you in doing your homework and research on various properties. If you have hard data to back up your offer, chances are better that it will be accepted. If you know what the past 3 homes in the same neighborhood have sold, it helps your cause. Marco Island Real Estate can help you look for and or sell your home with a high level of professionalism. They are always ready to answer your call.

Second of all, remember the art of negotiating and do this with every potential sale you interact with. You never know unless you ask. Often houses will be listed at the higher end of what it is worth to try and get the most value out of the sell and not cause the seller to lose money on the deal. If you come in with a lowball offer, you give yourself a lot of negotiating room. All you need to do is come to a mutual agreement, you both have to ultimately give and take. You’ll never get the best deal if you take everything at face value. Step out of your comfort zone a bit and push back a little. This is normal, and sellers are expecting this. Don’t believe even for a minute that pushing back will decrease your chances of ending up with the home. A real estate agent and comparables can help you come up with a good offer to start the negotiations.

Third, keep in mind location. Where the house is located is so important. You can have a beautiful and amazingly well-kept house, but if it down the street from let’s say an oil refinery the value of the house is going to drop. Houses that are in good neighborhoods and areas tend to fare better in failing economies. They also tend to hold their value well.

Lastly, another way to get a great deal is to look for houses that need fixing up or are more of an investment property. There is a huge market for this! You can get these homes for low values and then put money into fixing them up and getting the value increased if you want to sell in the future. Just by re-doing some basic rooms such as kitchens and bathrooms can drastically increase the value of any given home. So take the time to do your homework and you will find good deals!

 

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