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.
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.