Marianne Belanger's Blog
A home showing represents a valuable opportunity for a property buyer. However, there may be instances in which a buyer is unsure about whether to attend a house showing. Lucky for you, we're here to help you weigh the pros and cons of scheduling a home showing.
Now, let's take a look at three questions to consider before you attend a house showing.
1. Is a home the right size for me?
Take a look at a home listing and find out the square footage and number of rooms in a house. That way, you'll be able to determine whether a house is the right size for you without setting foot inside the residence itself.
Of course, you should consider your immediate and long-term plans as you evaluate a home's size. If you plan to start a family soon, for example, you may want to search for a home that offers sufficient space for you, your spouse and your children. Or, if you intend to retire in the foreseeable future, you may want to pursue a small home that requires minimal maintenance.
2. Is a home located in one of my preferred cities and towns?
Think about where you want to reside. Oftentimes, it helps to make a list of preferred cities and towns and narrow your home search to these areas. And if you find a home you want to check out in one of these cities or towns, you then can schedule a property showing.
In addition, it is important to remember that a big city home may prove to be more expensive than a comparable residence in a small town. If you decide to pursue a house in a big city, you may face increased competition for city homes in comparison to small town residences too.
3. Could a home be my dream residence?
Ultimately, if there is even a small chance that a home could be your dream residence, it may be beneficial to set up a showing. If you attend a showing and find a residence is your ideal house, you can submit an offer to purchase this home. On the other hand, if you attend a showing and find a residence falls short of your expectations, you can simply continue your pursuit of your dream house.
As you conduct your search for your ideal residence, it generally is a good idea to hire a real estate agent. This housing market professional will set up home showings, keep you informed about new residences that become available in your preferred cities and towns and much more. Plus, if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them.
Consider the aforementioned questions before you schedule a home showing – you will be glad you did. And if you decide to attend a house showing, you will be better equipped than ever before to determine whether a particular home is right for you.
If you've been pre-approved for a mortgage, you can enter the housing market with a budget in hand. In fact, this mortgage will enable you to spend up to a certain amount on a house. But in many instances, it pays to buy less house than what you can actually afford.
Ultimately, there are many reasons to consider purchasing a house below your means, such as:
1. You might not have to worry about significant home maintenance.
A small house likely means less home maintenance than would be required in a large house. Therefore, you may be able to spend less time worrying about keeping your residence looking great if you acquire less home that what you can afford.
Of course, let's not forget about the money that you might save by purchasing an affordable residence. If you buy an inexpensive home, you may be able to use the money that you save to hire professional home cleaners, landscapers and others to help you enhance your residence's appearance.
2. You'll be better prepared than ever before for unexpected expenses.
There is no telling when a family emergency, natural disaster or other dangerous situations may arise. Fortunately, if you spend less on a house now, you may be better equipped than ever before to handle the expenses commonly associated with these unforeseen events.
Purchasing a cheap house may prove to be valuable if you encounter costly, time-intensive home repairs down the line too.
For example, your home's roof won't last forever, and you likely will need to fix or replace it at some point. But if you purchase a budget-friendly home, you may be able to save extra money that you can use to cover the costs associated with various home repairs.
3. You'll have more money that you can use to personalize your house.
The money that you save on a house today may be used to upgrade your home both now and in the future.
For instance, if you want to install a deluxe swimming pool or fire pit in your backyard, spending less on a house now may provide you with the financial resources that you need to fund these projects. And if you complete a broad range of home renovations, you may be able to increase your house's value as well.
Deciding how much to spend on a house can be a tough decision for any homebuyer, at any time. If you collaborate with a real estate agent, you can explore a vast array of residences that fall within your price range.
A real estate agent will learn about your homebuying goals and tailor your home search accordingly. He or she also will set up home showings, keep you informed about new residences that become available and ensure that you can discover a home that matches or exceeds your expectations.
Consider your budget closely as you prepare to kick off a home search. By doing so, you should have no trouble finding a terrific house at an affordable price.
What should you expect after you make an offer on a residence? There are several steps that will take place between the time you submit an offer on a house to the date you finalize a purchase agreement, including:
1. Acceptance or Rejection of Your Initial Proposal
A home seller will have a short period of time to accept or reject your initial offer.
If a home seller accepts your proposal, you'll be able to move forward in the homebuying process. Conversely, if he or she rejects your offer, you may be forced to restart your home search.
On the other hand, a home seller may counter your offer as well. In this scenario, you likely will be given a set amount of time to accept or reject the counter-proposal. Or, you may be able to further negotiate with a home seller in the hopes of finding common ground.
The time between when you submit an offer on a home and receive a home seller's response to your proposal can be stressful. Fortunately, working with an experienced real estate agent ensures that you'll be able to stay up to date. This real estate professional will even help you put together a competitive offer on any home, ensuring that you can boost your chances of getting an instant "Yes" from a home seller.
2. Completion of a Home Inspection
Although a home seller has accepted your initial proposal, you'll still want to conduct a thorough home inspection to identify any major property issues.
For example, if a house has a faulty roof or defective hot water heater, an expert home inspector will be able to uncover such problems immediately. That way, you can learn about issues that may impact the long-term value of a home as part of an inspection.
If you find out about major issues with a home during a property inspection, you can rescind your initial offer and walk away from a house. Comparatively, if you still want to buy a home in spite of problems that were discover during an inspection, you can ask the home seller to complete home repairs or upgrades. You also may want to consider asking for a price reduction if major home repairs or upgrades are needed.
Ultimately, a home inspection will help you make an informed homebuying decision. After a home inspection, the ball is in your court, and you can choose to move forward with the purchase of a home, revise your initial offer or remove your proposal altogether.
3. Relocation to Your New Address
The final step of the home selling process involves closing on a home and relocating to your new address. At this point, all you'll need to do is pack up your belongings from your current location and move them to your new home.
Purchasing a home may seem impossible at times, but the homebuying process often gets easier as it progresses. Plus, homebuyers who collaborate with an experienced real estate agent can receive plenty of support as they navigate each stage of the homebuying journey.
The homebuying journey may seem daunting at first. Lucky for you, we're here to help take the guesswork out of finding and acquiring your dream house.
Now, let's take a look at three tips to help you approach the homebuying journey with poise and confidence.
1. Be Diligent
A diligent homebuyer may be better equipped than others to enjoy a seamless and successful property buying experience. In fact, this buyer likely will do whatever it takes to find the right house at the right price, regardless of the current real estate market's conditions.
To become a diligent homebuyer, it generally is a good idea to learn about the housing market in your preferred cities and towns. With this information, you can determine whether you're pursuing a home in a buyer's or seller's market and plan accordingly.
Furthermore, it may be beneficial to get pre-approved for a mortgage. If you enter the housing market with a mortgage, you'll know exactly how much you can spend to acquire your dream house.
2. Know Where You Want to Go
Establish homebuying criteria – you'll be glad you did. If you know what differentiates your dream house from others, you can quickly and effortlessly search for residences that match your expectations.
Also, you may want to hone your home search to specific cities and towns. For example, if you want to find a house close to your office in the city, you may want to explore residences in or near the city itself. On the other hand, if your goal is to buy a house near the top schools in a particular state, you should narrow your house search based on school rankings and other pertinent data.
3. Work with a Real Estate Agent
Buying a house is no small feat, and ultimately, there is no reason to try to navigate the homebuying journey alone. Thankfully, you can hire a real estate agent who can provide expert support throughout the homebuying journey.
A real estate agent is a must-hire, and for good reason. He or she will guide you along the entire homebuying journey and respond to any of your homebuying concerns and questions. In addition, a real estate agent offers recommendations and suggestions to help you make informed decisions as you pursue your dream residence.
Usually, a real estate agent will learn about your homebuying goals and craft a personalized homebuying strategy for you. He or she next will keep you informed about available residences that meet your criteria and set up home showings. Once you find your dream residence, a real estate agent will help you put together a competitive offer to acquire this house. And if your offer receives a "Yes" from a home seller, a real estate agent will help you finalize your house purchase.
Ready to streamline the homebuying journey? Use the aforementioned tips, and you can kick off a house search and discover your ideal residence in no time at all.
Looking to move out of a big city? Relocate to a small town, and you can enjoy the simple joys of small town life.
Many people prefer the small town lifestyle, and for good reason. In a small town, you won't have to worry about excess traffic or noise. Plus, many homes are available in small towns nationwide, ensuring you should have no trouble discovering a wonderful residence without having to worry about breaking your budget.
Kick off your search for a small town home today – here are three tips to help you secure a terrific small town house.
1. Study the Local Housing Market Closely
What are you looking for in a small town home? Ultimately, you'll want to consider exactly what you'd like to find in a small town house before you conduct your search for the ideal residence.
Creating a checklist of must-haves is essential. With this list, you'll be able to examine available homes in a small town and narrow your search accordingly.
Also, don't forget to examine the prices of recently sold houses in a small town. This housing market data will enable you to differentiate between a seller's market and a buyer's market.
2. Get Financing Before You Start Your Home Search
Can you afford a small town home? It all depends on the financing at your disposal.
Meet with several banks and credit unions to explore your mortgage options. That way, you can learn about fixed- and adjustable-rate mortgages and obtain financing.
If you ever have concerns or questions about home financing, be sure to ask a lender for assistance.
Remember, banks and credit unions employ mortgage professionals who are happy to help you in any way they can. These mortgage experts can teach you about different types of mortgage and offer personalized mortgage recommendations, ensuring you can get the financing you need to make your homeownership dreams come true.
3. Collaborate with an Experienced Real Estate Agent
When it comes to the real estate market, it is always better to err on the side of caution. Fortunately, real estate agents are available in small towns and big cities alike and will do whatever it takes to help you find a great house.
Hiring an experienced real estate agent who understands the properties that are currently available in a small town is vital. This real estate professional will offer tips throughout the homebuying process, guaranteeing that you can make informed decisions at every stage.
Perhaps best of all, an experienced real estate agent will take the guesswork out of buying a small town home. He or she will set up home showings and open houses, keep you up to date about new properties as they become available and negotiate with home sellers on your behalf. As a result, this real estate professional will streamline the process of going from homebuyer to homeowner.
Take the next step to acquire a home in a small town – use these homebuying tips, and you can locate a small town home that can serve you well for years to come.