Are you considering buying a home in today's real estate market? Here are five easy steps to help you become a shrewd buyer!
Step 1. Do in-depth needs analysis of yourself and family. Write down your needs, wants and desires at minimum. Others factors to consider are your goals, timelines, lifestyle etc. This will help you be more focused and if you're working with an agent, share this analysis with them to help them stay focused on your objectives also.
Step 2. Consider rent vs. buy. To decide if the benefits of home ownership are great enough for you to buy at this time. This means to look at your desired lifestyle, your goals and your timelines to make an informed decision. Using a T-Chart where you write the advantages on one side and disadvantages on the other may be useful in your decision making.
Step 3. Home Loan pre-approval. Get pre-approved for a home loan prior to shopping. Any top preforming real estate agent will ask for one prior to showing you homes anyway. Having a pre-approval will saves everyone involved both time and money. Having a loan pre-approval will help you focus on a price range and area in which to look for homes. In addition when you write an offer, your pre-approval will make your offer look better to the seller than an offer that doesn't have one. Ask your agent to show you how to calculate ฝากขายทาวน์เฮ้าส์ the monthly payment. Generally there are four parts, Principle and interest, Home Owner's Insurance, Real Estate Taxes and PMI (Private Mortgage Insurance). Condos complexes will have a fifth factor which is a monthly condo fee. Total these amounts to get an estimated monthly payment required for your new home.
Step 4. Be objective. When searching for a home, look at the market objectively. View available listings with an open mind and keep in mind that you'll find only about 80-85% of the features you're looking for in a home. This is where having a feature priority sheet for your desired home will be very useful. Experience shows that even buying a new home, buyers find themselves wishing they would have added more features to their new home.
Step 5. Using a real estate agent vs. do it yourself. - A professional real estate agent knows the market, how to find the best deals, help you find a lender, negotiate the offer and deal with the paperwork and deadlines involved. If you do buy a home by yourself, you must know how to do all these things and more expertly for yourself
I hope this gave you an overview of how to be a shrewed homebuyer in today's real estate market. Please watch for more real estate buyer and seller information coming to this site soon!
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