Buying Tips

The process of buying a home can seem overwhelming and stressful. Below are some key steps to follow to help get you started! 

Determining Your Budget

Mortgage Pre-Qualification vs. Pre-Approval

Meeting with a mortgage lender to determine how much you can afford and getting pre-approved is the best way to get this process started. When you start doing research about buying a home often times the terms pre-qualified and pre-approval will show up in your search. While they sound like they mean the same thing, they are actually quite different. Below are a few examples showing the difference between the two. 

Pre-Qualified

Pre-Approval

10 things not to be fooled by when you're looking

1.     Freshly painted basement. A freshly painted basement leads the buyer and buyer’s agent to assume that the seller hastily tried covering up material defects in the foundation walls and/or is trying to prevent an already wet/leaky basement from showing signs of water during the selling process.

2.     Online estimates- take your realtors advice and counsel. While those online estimates may seem appealing, they can give you a false idea of reality. Realtors take the time to analyze comps, take their advisement into consideration.

3.     Timeframe- take your time to make an educated decision. Don’t feel pressured to make your decision right then and there, you have time to weigh all options before making your final decision has to be made, even in a hot market.

4.     Outsiders advice- listen to your professionals. Everyone is going to have an opinion; but the most trusted advice you can listen to is from your hired realtor, inspector and other professionals.

5.     Others experiences, every transaction is unique. The home buying process is different for everyone; sometimes it goes smooth with no problems, and other times buyers experience a few bumps in the road.

6.     Outdated marketing materials. If brochures, flyers, or pamphlets are created for a property that was listed within 6-12 months of you seeing it - there’s a good chance the information might not be up to date. If a property is on the market for a while, there is always the possibility that the seller has made improvements to get it to sell.

7.     Not using a realtor will save you money, is something I hear quite frequently. We are actually a valuable resource to buyers and sellers, especially first-time home buyers. Our job is to help guide you through the process and to look for things you may not otherwise know to look for. Hiring a realtor can prevent having to pay for any problems that can occur down the road.

8.     Photos can be deceiving. Sometimes the photos can make a home look far better than it does in person. I have clients who will comment on how a room looks much larger in photos than it does in real life, or how the flooring and carpet looked new and updated. While we want the photos to help sell the property, we also want them to be a realistic representation of the house.

9.     There is a common misconception that winter isn’t a great time to buy or sell. Good deals can still happen during the winter months. There tends to be less inventory, which means there is less competition, and the winter brings out the serious buyers who are ready to make the move.

10. Whether they are high or low end, don’t be fooled by the décor, clutter, or furnishings that are in the home. Try to imagine the space as your own, with your own décor, and the way you would live in that space. Certain pieces of furniture or a certain paint color can completely change the way a room looks.