It is a dream for mostly everyone to have a property they can call a “home.” Due to the large cost of buying a property, it is normally a once in a lifetime milestone for a majority of people. Since there is a large monetary contribution when buying a home, it makes sense to do your homework before making a final decision. There are particular steps you should take to ensure you are choosing the right house for your family; one that is structurally safe and sound, in a great location, within your budget, and that meets many of your wants/needs, etc. The worst thing you can do is make a hurried decision to purchase a home without having your “ducks in order.” I've laid out a some vital instructions that you should follow to guarantee you are picking the appropriate home for your family. 


Analyze Your Present Situation and Needs 


Your present life situation plays an critical part in the home you opt for in the end. You and your family should make up your minds on what you want in a house - location, number of bedrooms/baths, space needed (square footage), what you can afford (budget), commuting options, etc. Something I advocate is that you (and your family) make a checklist. First, jot down your “non-negotiables (features that you MUST have), then your “negotiables” (features that would be nice to have but won’t stop the deal if you don’t have them). Each family member should have a voice in what he/she would like in a property since they will be staying there (it’s just fair and prevents arguing). 


Know Your Budgetary Limits 


This is the stage that you would sit down and do your family budget. down all your monthly costs (car payments, insurance, groceries, personal items, entertainment, gas, etc), and I mean to the cent. The last thing you want to do is find a suitable property and find out you really don’t have the means to purchase it. I can tell you, seeing it happen many times; it can be heartbreaking for a family. Having a definite limit on the cost of the property will help you plan for the purchase or for repayments if you are buying on mortgage. Overestimating your limit may drive you to a unfathomable financial hole that ends in severe debt and possible bankruptcy. It is quintessential that you determine what your family can bear. 




Engaging A Knowledgeable Realtor 


Purchasing a house is not simple, it is considered one of the more stressful life choices you will make. To ease the burden of property-buying you should make use of a area Realtor to advise you through the process of purchasing a property. A good Realtor is competent in the real estate market in your county and all the specifics that go into buying/selling/investing in a property. The Realtor will be able give you with a list of possible home options that have been filtered down to meet your property needs. Just a warning}, don’t rely on real estate websites like Zillow or Trulia to find you a house, they are a few days behind on providing the latest information on the houses they have cataloged. Many times the homes you a viewing on these websites are already sold or under-contract. These websites are not like a real estate agent, who will provide you with the most current property listings at any given time. A good real estate agent will help you with the finer details of the property-buying process – inspection, appraisal, referral to a lender, title, etc. Best of all, a Realtor will negotiate on your behalf to get you the best possible contract.


Get An Inspection


Picking a property from its looks is not advised. Again, I’ll say, avoid making haste decisions. Have the house go through a comprehensive inspection to pinpoint any structural and functional issues (leaking roof, faulty electrical, bad plumbing system, unstable foundation). Having a home-inspection is just the appropriate thing to do ahead of signing closing papers. An inspection will run you a few hundred dollars but could save you thousands and prevent you from purchasing a “money-pit” house. Also, having an inspection can give you power when negotiating the purchase price. You can often get a reduction in the purchase price or have the present owner fix the identified issues areas before closing on the house. If there is a large list of problems that the house inspector finds, I normally suggest that you move away from the deal and look for another house. property repair estimates are just that “estimates,” more than often they end up costing two times the estimate to complete (from my experience). These basic guidelines will assist you to make smart choices during the home-buying process, along with saving you time, money, and headaches. If you are looking for homes for sale in St Petersburg FL and want to work with a licensed Realtor in the area, please contact me to discuss your family’s needs.

It has been a dream for mostly everyone to have a house they can call a “home.”  Due to the huge cost of buying a home, it is usually a once in a lifetime venture for many.  Since there is a significant financial investment when buying a home, it makes sense to do your homework before making a final decision. There are certain steps you should take to ensure you are choosing the right home for your family; one that is structurally safe, in a good location, within your budget, and that meets most of your wants/needs, etc.   The worst thing you can do is make a haste decision to buy a home without having your “ducks in order.” I’ve laid out a few basic guidelines that you should follow to guarantee you are choosing the right house for your family.

Assess your current situation and needs

Your current life situation plays an important role in the house you choose in the end.  You and your family should determine what you need in a house - location, number of bedrooms/baths, space needed (square footage), commuting options, etc.   

Something I recommend is that you (and your family) make a list.  First, write down your “non-negotiables (features that you MUST have), then your “negotiables” (features that would be nice to have but won’t break the deal if you don’t have them).  Each family member should have a say in what he/she would like in a home since they will be living there (it’s just fair and prevents arguing).

Determine your financial limits

This is also the time that you would sit down and do your household financials.  Write down all your monthly expenses (car payments, insurance, groceries, personal items, entertainment, gas, etc), and I mean down to the penny.  The last thing you want to do is find the perfect house and find out you really can’t afford to buy it. I can tell you, seeing it happen many of times; it can be heartbreaking for a family.

Having a clear limit on the cost of the house will help plan for the purchase or for repayments if you are buying on mortgage. Overestimating your limit may lead you to a bottomless financial hole that will lead to serious debt and possibly bankruptcy. It is quintessential that you determine what your family can afford. 

Engaging a competent realtor

Buying a house is not easy, it is consider one of the more stressful life decisions you’ll make. To lessen the burden of home-buying you should make use of a local Realtor to guide you through the process of purchasing a home.

A good real estate agent is competent about the real estate market in your area and all the details that go into buying/selling/investing in a house. The agent will be able provide you with a list of possible home options that has been filtered down to meet your home wants/needs.

Just a warning, don’t rely on sites like Zillow or Trulia to find you a house, they are several days behind on providing the most recent information on the houses they have listed.  Often times the houses you a viewing on these sites are already sold or under-contract.   These site are unlike an agent, who will provide you with the most current property listings at any given moment. A good realtor will help you with the finer details of the home-buying process – inspection, appraisal, referral to a lender, title, etc. Best of all, a real estate agent will negotiate on your behalf to get you the best possible deal.

 
Inspection

Choosing a house from the general appearance is not advised. Again, I’ll say, avoid making haste decisions.  Have the house go through a thorough inspection to identify any structural and functional problems (leaking roof, faulty electrical, bad plumbing system, unstable foundation).

Having a home-inspection is just the right thing to do before signing on the dotted-lines.  An inspection will run you a few hundred dollars but could save you thousands and prevent you from buying a “money-pit” house.  Also, having an inspection can give you leverage when negotiating the price.   You can often get reduction in price or have the current owner fix the identified problem areas before closing on the house.

If there is a large list of problems that the home inspector finds, I normally recommend that you move on and look for another home.   Home repair estimates are just that “estimates,” more than often they end up costing 2 times the estimate to complete (from my experience).

These basic guidelines will help you make smart choices during the home-buying process, along with saving you time, money, and headaches.

If you are looking for homes for sale in St Petersburg FL and want to work with a licensed Realtor in the area, please contact me to discuss your family’s needs. 

The average list price for Tampa-St. Petersburg-Clearwater, Florida area homes was $171,900 in March 2014, up 10.9% from March of last year, according to the National Housing Trend Report for March 2014 written by Realtor.com. That's below the U.S. median of $199,900. Meantime, the market ranks sixth in the number of available listings out of 146 metropolitan regions ranked by Realtor.com. This means somewhat low prices and a good amount of supply – a promising opportunity for home potential buyers.

                                                                                                                                   
The properties currently listed for sale on realtor.com for the Tampa Bay,  range in selling-price from the mid-teens for a small 1-BD,1-bath condo in need of a little renovation to $17.5 million for a twenty-three thousand plus square foot, gated waterfront home with two pools, tennis court, basketball court, carriage house and boat docks. Of nearly nine thousand houses listed on realtor.com, there are currently eighty-two single-family homes and condos/townhomes for sale in the $171,900 to $175,000 price range. Here's what's for sale for $175,000 in the Tampa Bay market.

Attention First-Time Buyers

The Tampa-St. Petersburg-Clearwater market is the 2nd  best city for 1st time homebuyers, according to a new report by Realtor.com listing the top 10 metro areas for new purchasers. The only place that ranked better was Pittsburgh, PA. The 5 key factors that make a market perfect for 1st time homebuyers:

Market popularity. first-time buyers often "move up" to a bigger home within a few years. Purchasing in a popular area helps ensures they can make a profit when it's time to move.

Prices. Buyers have to be able to afford the mortgage as well as the down payment.

Inventory. Markets with short-supply inventory often have bidding wars in which first-time buyers can easily be out-bid by investors or buyers who can spend more. large amounts of inventory reduces the likelihood of these bidding wars.

Time on market. The median age of inventory is an indicator of demand in a particular area. Areas where houses are on the market for a limited amount of time, typically because of increased demand, can also lead to bidding wars.

Unemployment rates. A lower unemployment rate means first-time buyers are more likely to find and keep jobs and be able to pay their mortgages.

The largest real estate markets in the top ten list were in Florida. In addition to Tampa-St. Petersburg-Clearwater, newbies were directed to the Orlando and Jacksonville city areas. The others in the top ten: Philadelphia, and its New Jersey suburbs.; Philadelphia; Fort Worth-Arlington,Texas; Dallas; Raleigh-Durham-Chapel Hill; and Phoenix-Mesa.

What $175,000 Will Buy

There's a big inventory of homes at the $175,000 range, including a number of short sales. In the single-family house market, buyers will find 1-level, ranch style houses with between two and five bedrooms and from 1-4 baths. Size varies greatly; $175,000 can get you anything from an upgraded two-bedroom, one-bath bungalow with 864 square feet ($203/sq. ft.) to an older five-bedroom, four-bathhome with 3,056 square feet ($57/sq. ft.). Some houses are part of homeowners' associations that offer community benefits, such as swimming pools, and a few have private pools and/or spas.

In the condo/townhome market, home buyers will find many one-bedroom, one-bath or 2-bed/2-bath properties. Units vary in size from a 731-square-foot modern condo ($239/sq.ft.) to a 3-bed/2-bath, short-sale townhome with 1,848 square feet ($95/sq. ft.). At this selling price, buyers can find hardwood/tile flooring, updated kitchens with granite countertops, and community amenities including swimming pools, tennis courts and fitness centers.


An experienced St.Petersburg realtor can help you find a house that fits your needs.