Take the Stress Out of Homebuying
Buying a home should be fun, not stressful. As you look for your dream
home, keep in mind these tips for making the process as peaceful as
possible.
1.
Find a real estate agent who you connect with.
Home buying is not only a big financial commitment, but also an emotional
one. It's critical that the REALTOR® you chose is both highly skilled
and a good fit with your personality.
2. Remember, there's no "right" time to buy, just as there's
no perfect time to sell. If you find a home now, don't try to
second-guess interest rates or the housing market by waiting longer
- you risk losing out on the home of your dreams. The housing market
usually doesn't change fast enough to make that much difference in
price, and a good home won't stay on the market long.
3. Don't ask for too many opinions. It's natural to want
reassurance for such a big decision, but too many ideas from too many
people will make it much harder to make a decision. Focus on the wants
and needs of your immediate family - the people who will be living
in the home.
4. Accept that no house is ever perfect. If it's in the right
location, the yard may be a bit smaller than you had hoped. The kitchen
may be perfect, but the roof needs repair. Make a list of your top priorities
and focus in on things that are most important to you. Let the minor
ones go.
5. Don't try to be a killer negotiator. Negotiation is definitely
a part of the real estate process, but trying to "win" by getting
an extra-low price or by refusing to budge on your offer may cost you
the home you love. Negotiation is give and take.
6. Remember your home doesn't exist in a vacuum. Don't get
so caught up in the physical aspects of the house itself - room size,
kitchen, etc. - that you forget about important issues as noise level,
location to amenities, and other aspects that also have a big impact
on your quality of life.
7. Plan ahead. Don't wait until you've found a home and made
an offer to get approved for a mortgage, investigate home insurance,
and consider a schedule for moving. Presenting an offer contingent on
a lot of unresolved issues will make your bid much less attractive to
sellers.
8. Factor in maintenance and repair costs in your post-home buying
budget. Even if you buy a new home, there will be costs. Don't
leave yourself short and let your home deteriorate.
9. Accept that a little buyer's remorse is inevitable and will
probably pass. Buying a home, especially for the first time, is
a big financial commitment. But it also yields big benefits. Don't
lose sight of why you wanted to buy a home and what made you fall in
love with the property you purchased.
10. Choose a home first because you love it; then think about appreciation.
While U.S. homes have appreciated an average of 5.4 percent annually
over from 1998 to 2002, a home's most important role is to serve as
a comfortable, safe place to live.
