4 Things Every Homebuyer Should Know When Buying
When you’re going through the real estate process, you’ll have the expert help of a real estate agent to guide you. But, like most things in life, the journey is a whole lot easier when you’re informed and have a foundation of knowledge to draw on.
This is one of the reasons why buyers should check out the Buyer Guide, which has a ton of great info and provides an overview of the real estate process. But chances are that you haven’t heard much about 4 things that can really impact your homebuying experience because no one really seems to be talking about them. Let’s change that!
The Power of Pre-Approval: A pre-approval is basically a stamp of approval from a lender that says that you’re likely to qualify for a certain amount of a mortgage loan based on your financial situation and history. This is a big deal for sellers because it means that if they select your offer with a pre-approval, your financing is much more likely to go through and the deal has a much higher chance of successfully closing.
Hidden Gems in an up-and-coming neighborhood: Buying a low-priced hidden gem–a property with great potential that doesn’t require a total remodel–in a neighborhood that’s not yet popular is a smart real estate strategy. Why? As the neighborhood gets more popular and more amenities pop up, the house will appreciate in value due to the location. This means that you can build equity quickly and make a great return on your investment when you sell.
Future Resale Factor: When you’re looking at homes, don’t forget to focus on the future resale factor of the property. You’re making an investment when you buy a home, so it’s important to make sure that it will net a positive return on investment when you go to sell. Ask your agent to help you find properties with features that will add to its future resale factor.
The Art of Compromise: Buying a house is a way of making a business deal with the sellers. As with most deals, negotiation and compromise is the way to create a deal that works for both sides of the table. Before putting an offer down, ask yourself what you’re willing to compromise on and then expect to negotiate over those compromises. This is another reason why it’s important that your agent is a skilled negotiator!
If you want to talk more about what you need to know as a homebuyer, OR are ready to start your property adventure with The Apex Team, contact us!