Tuesday, January 28, 2014

4 Important Tips For Buying Right

I've met with several people this month that are ready to purchase a home.  Like a teacher that has a group of students eager to learn, I have come away from these meetings energized and excited to see these folks take the next step in their lives.  It adds an extra layer of the rewarding feeling for me when the future buyers are cautiously anxious and looking for guidance and education before jumping in.

Here are the 4 tips that I would offer to anyone looking to purchase a home.  If you skip steps, modify the directions, or assume that one or more aren't for you, the opportunity for a bad experience slowly creeps into the equation.

1.  Get in touch with professionals early:  Realtor and Lender.  
Making contact with both of these professionals is essential.  I'd recommend contacting your Realtor first, not for house related matters, but for a referral to a lender with whom they work closely.  A quality  lender is a Realtor's best friend.  Nothing is more frustrating for the Realtor and the client than having a deal go sour because of financing, so regardless of who you know in the business, where you do your banking, or any other circumstance, trust your Realtor and go with a lender that they know can get you a loan.  You'll meet with a lender to get pre-approved for a loan, thus setting you up for the most appropriate price range to search within for your finances and financial goals.

2.  Get your questions answered 
After meeting with the lender to get the financial side settled, sit down with your Realtor to go through the home buying process.  Gain an understanding for everything that is involved so that you can concentrate on the homes you are looking at, not all of the little things that come up during the search, the offer, the inspection, the loan process, title, approval, closing etc etc etc.

The home buying process can seem very complex, so the goal is to understand the general path before you begin.  Surprises make everyone uncomfortable, so get all of your questions answered before moving on so that your comfort level is where you need it to be to make confident and educated decisions.

3.  Embrace the process
Remember, the goal of your Realtor is to successfully get you into a home of your desires with the fewest amount of bumps in the road along the way.  A simple direction such as "drive by the home to make sure it is a neighborhood that you want to live in and that you really love the curb appeal before you ask me to schedule a showing" is in place to make it easier for you to get to that ultimate goal.  The systems that I have to help my buyers are constantly being revised as I learn something new with each experience.  A strategic approach is the best way for me to ensure a successful outcome.

4.  Be Picky
Don't settle for something that isn't right.  Too many times people want to be shoppers.  What I mean by that is that people will see something they don't like in a picture, or start to consider a home in a neighborhood they don't like, and rather than sticking with the plan to avoid those details, they go shopping hoping something catches their eye so that they can avoid that bit of the criteria that they had previously eliminated.

Rarely does this scenario work out well.  Buying a home is a life changing event.  It is often the largest financial transaction to date, and will shape your life for at least the next 7-10 years.  Be picky, it'll pay off for everyone involved.

Take care,
Scott Morrison
text: 614-383-8502

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