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.
Reprinted from REALTOR® Magazine (RealtorMag.Realtor.org) with permission of the
NATIONAL ASSOCIATION OF REALTORS®. Copyright
2008. All rights reserved.