Well, we're finally starting. Next week we'll get pre-approved and start viewing houses. We're actually going to BUY a house. The market is incredible for buyers and Malcom's job is really stable. We feel like this is the right time for us so we're jumping in with both feet. Please keep us in your prayers that we'll find the right home and everything will work well.
Besides the obvious comments about location and living within our budget, what would you say to look for when we're visiting possible homes? What questions should we ask? What should we watch out for? What would be a sign that we have a crappy realtor? Any/all advice would be helpful. Thanks!
7 comments:
I love having a basement, but I wish my laundry room was on the main floor. (It gets a little forgotten there, sometimes) And a kitchen bigger than 11X8...that was tough to work with. Good luck and happy hunting!
that is so exciting!! i can't wait to be at that point in my life! i would look for a big kitchen with lots of prep space and also closets for lots of storage. over the years you can accumulate a lot of stuff that you decide you will use later on. Good luck!
Hi Lindsey,
Just wanted to say thanks for your referral to Rachel. Her work is beautiful. I sent her an email and am waiting to hear back- we shall see. I'd love to have a giveaway for photography on 30days. ;)
As for houses-
I would say when you find the house that fits you (you will "just know" most likely) drive past at all times of the day/night to get a feel for the neighborhood and area.
Look up houses on your own on the MLS sites. For some reason realtors tend to show you what they want you to buy instead of exactly what you are looking for.
My brother just bought a house and originaly the realtor was showing them a 30 year old house for $130,000. After the inspection went badly, my wife showed him other houses online that the realtor had never mentioned that were only about 2 years old, in a better neighborhood for the same price.
Do some research on your own and don't just go with what they're telling you.
Scott P.
YAY!!! I gave you all of my (our) thoughts on housing a couple of months ago. I'm anxious to see what you find! Congrats!!
Hey Linds.. Since I have been doing all my renewal stuff I will give you my advice. First, EVERY Real Estate Agent has Fiduciary Duties of Confidentiality, Accounting, Reasonable Skill & Care, Loyalty, Obedience and Disclosure. If you feel like any of these are being ignored, get a new one!
Get a home inspection! Ask every question, be there while the inspection is going on, and find out everything there is wrong with the house. This not only is right to do because you are going to be responsible for it, but it can also be a haggling point. When making your offer, because it IS a buyers market, bring up everything that is wrong, ask for them to fix everything and ask for a home warranty and come in lower on the price. Not so low they reject it, but low enough to start the negotiation process with a counter-offer. I don't like HGTV's version of they make one offer, and they call back and say GREAT! because that means one agent or the other isn't really doing a great job of working hard for their client.
Another thing, start by making a list of everything you MUST have in a house/condo, WANT to have, and FLUFF. I always had my clients start here because it is so easy to get overwhelmed and love everything you walk through. Then, ask the realtor which listings have been on the market the longest, and see if any of those that you like to visit first. They are hungry to sell, and will take the lower offers and be more willing to negotiate.
You will do great. You and Malcom both have that no-nonsense attitude that will get you through this. Remember, the thing they tell us as Realtors the most, is we are trying to get the clients to get an emotional attachment to the house (Picturing their future there). They are less likely to look at it like the business situation it is. So, if you can shop and do the transaction as a business situation, and try not to get too emotionally attached until the final papers are signed, you will do better and walk away with a better deal.
My advice is to get a good mortgage broker that can shop around for the best rates for you, so you are not locked into only one bank's offering. When we bought our house, we could call up our broker with the prices of different houses. She calculated all of them for us, giving us a clear picture up front of our closing costs, total amount, and monthly payments before we ever signed the dotted line.
If you are short on closing costs or down payment, you can sometimes see about increasing your offer and having the seller pay the closing, etc. Just be sure you are within the lender's guidelines.
Also, in total contrast to what I said above, check out a credit union for a mortgage if you are a member of one. Our credit union here has been running almost 0.5 to 1% less on interest rates than the published bank rates.
Most of all, have fun looking and making a house your home!
Ky
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