New construction home buyers beware. New home builders are going to do two things. One, they will talk you out of using a realtor and two throw things by you like no appraisal contingencies. When buying a new home, having a realtor by your side is key! Your realtor can help you build an appraisal model, build a pricing model off tax records and secure a local lender/appraiser right away. The last thing you want is an unwelcome surprise the day of settlement that could cost you thousands of dollars.
Here are some Home Buyer Tips to remember as you enter the home buying season.
1. Always talk to a lender first to see what you qualify for. It is very disappointing to look at homes you can’t afford first.
2. Get pre-approved, not pre-qualified. Pre-approval allows you to make an offer as soon as you find a home.
Note: Lender’s will give you the highest amount you can afford, not what you are most comfortable with. They can also educate you on closing costs and down payment requirements.
3. Pick your community. According to the US Census, the average person commutes 30 minutes from their work. Buyers should start looking at communities within 30/45 minutes within their employment center. Here are some neighborhood guides for communities 30/45 minutes from major employment centers:
4. Schools and boundaries are a big factor in resale. Check out the ratings on the local schools.
5. Educate yourself on the market by visiting at least 5-10 homes in your target market.
6. Always ask the ages of the big ticket items before making an offer. You will most likely have a home inspection, but you need to factor this in your original offer.
7. Before making an offer call an insurance company and make sure the property is not in a flood zone or has had any major claims made on the property.
8. Always use a licensed realtor, this is the biggest purchase you will make. Why would you spend $100’s of thousands of dollars without advice?
9. Find the best top producer who works in your area of interest.
10. Start house hunting! Our team can offer powerful benefits to home buyers with our Expert Buyer Program. We have a long list of properties lined up, ready and waiting to hit the market. Contact Casey Samson today at 703-508-2535 and happy house hunting!
Up next on the blog, Home Seller Tips
Watch Casey discuss this topic on our latest Coffee with Casey below.