HOW TO KNOW IF YOU ARE GETTING THE BEST DEALS WHEN BUYING A NEW HOME

Buying a home is an exciting experience, but it can be equally terrifying at the same time. You want your new home to also be a successful investment, but how do you know if you are getting the best deal? Here a few tips to make sure you are getting the most bang for your buck.

 

Use a Real estate Professional

They see houses and close transactions every day of their lives. They know what they are doing and should be very familiar with the area. Trusting them is a huge asset in this process.

Know the Area

Be sure to research the area that you are interested in purchasing a home. School districts are important to know. Even if you are not planning on having any children, the type of school district will determine the resell value of your home.

Get a Home Inspection

You and agent have found the perfect house, now get a home inspection to make sure. Although real estate agents have tons of experience and can spot some potential issues, home inspectors will do a thorough job going through the entire house. They will literally inspect the house from the crawl spaces in the basement to the actual roof to give you a complete report of the house condition. Use this report wisely.

Research Comparable Property in the Area

There are several sites that you can utilize for this purpose. Do not get caught in the "estimate" these sites give for the property you are interested in, but look instead at neighboring homes that have sold recently. These sites can tell you features of the home (number of beds, baths, square footage, etc.), the last date sold, and the price. Compare these features and prices to that of the house you are interested in purchasing. If you feel there may be some discrepancies, speak to your real estate professional.

Get an Appraisal

If you are obtaining a mortgage to complete this transaction, this will, often times, be required and provided by the lender. If you are purchasing the home without a lender, contact a local appraiser anyway. Appraisers are licensed individuals that will provide you with a detailed report of that homes value compared to other homes in the area

Although buying a house can seem like a daunting task, it should also be an enjoyable milestone. Following these simple guidelines and trusting in your real estate professionals will ensure that you are make a wise invest for the future.

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