Moving can always be chaotic and a bit annoying at times. As much as we all would like to live and move into our typical dream home, we know that it takes a ton of work and success to do so. For today’s guest post I would like to introduce to you guys, Zillow. Zillow helps you find your own dream home in a matter of seconds based off of your own criteria, so that is why they have included a few tips for you guys to learn about buying your own dream home.
Investing in a home is most likely the largest purchase the average person makes in his or her lifetime. Despite the magnitude of the purchase, homes move fast in competitive markets and house hunters sometimes end up disappointed with their purchase after their rapid decision-making.
To avoid buyer’s remorse, review these tips before delving into the complex home-buying process. Here are some of the most important guidelines for a stress-free home buying experience.
Investigate the Neighborhood
The location of a property cannot be changed, so an ideal community should be a top priority when conducting a home search. First, explore the neighborhoods surrounding the property. Check out nearby school ratings, Walk Score data, commute times and crime rates to ensure the property fits the buyer’s needs. Most of this information can be found online, but taking time to walk around in-person to get a feel for the neighborhood atmosphere is also a good idea.
Get Pre-Approved for a Loan
Pre-approval tells home buyers exactly how much lenders will finance and gives buyers a clear idea of how much they can afford. If this step is completed before the house hunting process takes place, home shoppers avoid wasted time spent looking at homes out of their price ranges. Contact a lender to get approved. Typically lenders require borrowers to fill out an application and they’ll also need to provide bank records and allow the lender to run a credit report. If the lender does not grant pre-approval, hopeful borrowers should work to improve their credit scores, decrease debts and save more for their down payments in order to make an offer on a home in the future.
Hire a Home Inspector
Homes are complicated and not all problems are cosmetic or even visible. Make sure there are no major underlying issues with a home by hiring an inspector to examine the home’s structure. Avoid properties containing mold or foundation damage, as these are costly and time-consuming updates which may not be worth the hassle. A home inspector is also able to determine the costs associated with certain updates. If the purchase price of a home is under budget and it only requires minor fixes after a professional inspection, then it may be cost-effective to go ahead with the purchase. The home inspector is a great resource, so walk through the home with the professional and ask questions.
Judge Structure Over Cosmetics
Never evaluate a home based on surface details. Paint colors can be changed and carpet can be replaced. To best determine if a home is a good fit, observe room sizes, layout and functionality. Hate the kitchen but desperately need an extra bathroom? Updating counter tops and painting cabinets is much easier than adding on an entire bathroom requiring extra space and access to plumbing. Home buyers are often overly drawn to well-designed interiors. Don’t purchase a poorly structured home just because it looks pretty. Even if the decor is up to par with design trends, the blueprint is ultimately going to matter most. Just visualize a blank canvas and consider the longevity and soundness of the home’s structure.
Assess the Home’s Value
How does the home stack up against properties in its area? Is it priced too high or too low? What are the current market trends and do real estate experts anticipate appreciation? These are all crucial questions prospective home buyers should ask themselves. Purchasing a home is a major investment, so thorough research is just as important as saving a down payment.
Unless building a custom home, it is unlikely to find a house that perfectly fits the buyer’s needs. There are always home details to be improved upon in order to become optimal for the homeowners. However, these personalization projects shouldn’t be a deterrent when making an offer. While it’s important to get what is needed in a home, understand price limits certain dream home features. Prioritize a list of “needs” and “wants” to be able to differentiate between them when narrowing down the home search. For instance, if a home doesn’t have granite counter tops and stainless steel appliances but a great layout and is budget-friendly, consider installing those trimmings upon purchase.
Whether a first-time home buyer or a seasoned real estate aficionado, these tips can help home buyers make the right choice when it comes to their future residence.
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