When you know, you know… or will you? What if it’s not love at first sight?
Buying a house is a big, long-term commitment and you want to know you’ve found a place that’s worthy of the commitment. Sometimes, a place will feel like home the moment you pull up to the curb. But for most home hunters, it takes time. Even if you get tired of the process, don’t compromise on what you really want. It really helps to work with a realtor that you trust. And with assistance from your mortgage advisor at Gagliano Mortgage in Birmingham, AL, you’ll have a full team ready to help you find and finance your dream home. We’ve compiled some tips that can make the process a little smoother or at least shed some insight on a potentially stressful process in order to make it more enjoyable for you!
Determine Your Priorities
It can be tempting to see a nice house online and decide to jump feet first into house hunting. When searching for your ideal home, we recommend first making a list of non-negotiable must-haves. For you that may be being in a good school district, being near work, or even having a certain number of bedrooms. Next, come up with a wish list of things you’d like. Consider your lifestyle. Do you need a large yard for your pet? Do you love to cook and need a kitchen to suit you? Having a non-negotiable and a want list will help point you and your agent in the right direction.
Old vs. New
Do you see yourself in an older home with a lot of character or a newer abode with modern amenities?
You will likely have to put more money into maintenance and renovation with an older home, especially if its main systems are dated. Think about any renovations you would have to make if you were to purchase it. Consider the actual cost of maintaining an older home, not just the asking price. But they tend to have better quality construction than newer houses. Older homes can be good for those who want to be located in a well-established community that’s close to shopping and restaurants.
Newer homes tend to require less work, stress and money to get them into shape. They’re also more likely to come with updated technology built in, such as security systems or smart thermostats. However, the asking price will likely be higher than for older homes of the same size.
Don’t Rush It, But Be Timely
It can be a delicate balance between taking the time to make sure a house is right for you and making sure you get to it before someone else does.
Look at all the houses that align with your budget, needs and wants. Think about the pros and cons of said houses. Weigh both the practical and emotional factors. Consult your realtor…. and your gut. Sometimes, when it’s the right house, you just know.
Don’t rush this process too much, since it’s one of the bigger financial decisions you’ll make in your life, but once you know what you want, don’t drag your feet. It’s still time-sensitive, especially with how quickly houses are moving right now.
While it can be wise to make sure your wants and needs are realistic, don’t compromise on things that are necessary for you to feel at peace with your decision. Talk to your agent for guidance.
When it comes time to make your choice, make your best offer. Now is not the time to go low, especially if you know you’re going to be competing against other bids. If you really know you’ve found THE house, you don’t want to lose it, so make your best offer. This is where a pre-approval can be your golden ticket. It’s why we do pre-approvals. It lets the seller know that you’re already vetted (to some extent) and have been pre-approved for a home loan, which can give you an advantage over other offers. If possible, make a complete, clean offer without any seller concessions. This will give you better odds of having your offer accepted.
Are you ready to start the house hunting process and find your first or next home? Gagliano Mortgage, your mortgage advisor in Birmingham, AL can help get you pre-approved for a home loan today, so you can start your hunt as quickly as possible! Apply now!