Buying House Overview: Thinking of buying a house but don’t know how to go about it and what things to expect? Well, don’t worry because we have something that might help you with this process.
Every person who wants to buy a new house wants different things based on their personality, needs, and lifestyle. But there are some things that almost every house owner needs to consider before making the decision and that is what we will be looking at in the following section.
Following are some of the most important factors that can directly impact the process of buying house and you need to consider these at all costs.
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1. The Credentials and Experience of Your Real Estate Agent
You can find tons of real estate agents online or in your area, but not all of them are going to cut it for you. You need someone who has been long in this business, who knows the market and has a dynamic personality.
These are the characteristics that make a real estate agent good or bad and affect your purchase significantly. Choose a service like a real estate agent in Pine Knoll Shores who is recommended by most people, and have strong references for a better outcome.
2. Seller’s Motivation
You need to figure out how eager the seller is about selling their place. If for example the sale is an estate sale, or the seller has to relocate immediately for some reason, you can negotiate better and make the price a little lower.
If, however, the seller is not in hurry and wants to take his time finding the best price, you will have a hard time negotiating. Once you know how much the seller wants to get their hands off that house, you can easily decide whether you have to buy that place or not.
3. Electricity and water System
Make sure the house you want to buy has a newer power and water pipeline system. If upon inspection you find out that the house has old wiring and a broken water system, subtract the repair cost from the total price before making the offer.
Do not go for a house that hasn’t gotten any repairs in years and is evidently in a bad shape.
4. Number of Rooms
Now, this depends on many factors like the number of kids you have and what your hobbies and preferences are. Normally a house with one room for each person, a separate room if you are expecting a baby, a guest room, one wide kitchen, two bathrooms, and a living room is more than enough for you.
Having more rooms is always a great idea but if you are on a short budget, you can buy a house without a guest room, and if your kids don’t mind, you can ask them to share a room to cut the cost.
5. Location and Neighborhood
It is also important that you buy a house that is closer to your job, kids’ school, main parks, gyms, shopping centers, and other recreational places. This will give you more time to spend with your family and have fun.
A house that is deep into the residential area is usually quieter but if you want quick access to the main highways and you don’t mind noise that much, you can pick a place that is at the beginning of the colony.
6. Have a Pre-Approved Loan
Sellers consider it a reg flag when a buyer is not approved for a loan. This makes them lean towards other people who are interested in buying their place. That is why it is absolutely crucial that before you start looking for houses, you get your new house loan pre-approved from an authentic lender.
Before going into the market and looking at houses you must know what your budget is. Otherwise, you will be just wasting your time watching houses that you can never afford at the moment.
Knowing what your budget is and what you want in your new home and giving this information to your real estate agent can save so much of your time and energy.
So, now you know what factors to consider when buying your very first home. If you pay attention to these key things, we assure you that you will soon find the house that you have always dreamed of.
We hope this information has made things a little easier for you and we wish you the very best in finding the place that meets your standards.