Paying rent is like pouring money down the drain. It can be a roller coaster of emotions… finding the right place… securing the loan… moving in. And if you’re like most of us, your home will be your largest purchase. The emotions over such a large and personal purchase can ofter cloud good business judgment.
Many home buyers do very little research before diving in and investing their hard earned money. Before doing that, it makes sense to be as informed as possible. If you follow these suggestions, you’ll stop paying rent and make a good sound business decision that you’ll be happy and proud of for years to come.
1. Inspect – Inspect everything you think you might want to inspect. Go over the inspection reports with a fine tooth comb. Make sure you hire professionals. For condo purchases, go over the by-laws, and association fees. Don’t take anything for granted… inspect everything!
2. Imagine the Property Vacant – Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture. It leaves with the owner.
3. Income Plus Lifestyle Equals mortgage Payment - Sit down with a competent real estate professional and honestly discuss your income level and living expenses. If you do not have such a person in mind, let me recommend Raedean Born at Plaza Mortgage. She can be reached at 913-402-2300.
4. View Several Homes – See at least 2 to 5 properties. Don’t move on the first property you see but… don’t move too slowly either. With my help, you’ll be able to view enough properties to get a good overall perspective of the market. And when you find the right property, all the legwork will be worth it.
5. Utilize Your Team – By aligning yourself with me, you’ll have an entire team working for you. As the real estate industry leader, we have professionals to make the whole buying experience simple and easy for you. We are a One-Stop-Shop at Reece & Nichols… mortgage, title and insurance.
6. Ask Questions – Check out all your costs and expenses before you sign: utilities, taxes, insurance, maintenance and homeowner dues, if applicable. Make sure all utilities are on (gas, electricity, and water), so you can inspect everything in working order.
7. Do a Final Walk-Through – Visit the property after all the furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Many times, things are unintentionally overlooked that could have been spotted in a final walk-through.
8. Plan For Flexibility – Closing dates are not written in stone. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a real estate transaction.
9. If It’s Not In Writing, It Doesn’t Exist – All promises and discussions are to be in writing. Don’t make any assumptions or believe any assuances. Even the best intentions can be misinterpreted. I’ll keep an on going log (in writing) of all discussions, and get the seller’s written approval for all agreements.
10. Loyalty Breeds Loyalty – I will be open, honest and up-front. As your personal Realtor, I will work on your behalf, and follow your lawful instructions. I will put your interest above my own. Working together, we will have you in your dream home on your time schedule.
I hope these suggestions will help you avoid the pitfalls many home buyers go through. If I can be of service to you or anyone you care about, please call me today. Lets talk and find out what it will take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you! You’re under no obligation of any kind.