|
Being a buyer is a different mindset than being
a home seller. Buyers are looking for the best home for the best
price. Sellers are trying to maximize the amount of money they
get from their home, and buyers are trying to maximize the
amount of home they get for their money. Keeping these opposing
objectives in mind will help you negotiate a good deal.
Know The Market - It is important to
learn the market and the neighborhoods. This can take a little
time if you are new to the Tampa Bay area. Every buyer has
their own "List Of Importance". If you have children,
schools may be your biggest concern. If you're a young
professional, proximity to nightclubs, restaurants, your job and
the beaches may top your list. Learn as much as you can about
where you want to live.
How Much House Can You Afford - Determine
how much you can afford to pay in monthly payments. Remember,
when financing a home, the lender normally will require that
your monthly payment include "PITI" - Principal on the loan,
Interest on the loan, Taxes (one twelfth of the annual property
taxes, and Insurance (one twelfth of the annual property
insurance). It is important to get pre-approval from a
lender. They will help you determine the price range you can
look in.
A "pre-approval letter" is an important tool in
negotiating with a seller. This tells the seller that you are
actually qualified to get the funds you need to purchase their
house. A seller doesn't want to waste time negotiating with a
buyer, only to find out the buyer isn't really qualified to buy
the home. And you, as the buyer, don't want to be disappointed
by finding that "perfect house", only to find out you can't
afford it.
We can put you in touch with a good lender that
can walk you through the pre-approval process and determine the
price range you can focus your efforts on.
Finding the Right Home - With the help
from one of our professional real estate agents, look for a home
that satisfies your most important needs while staying within
your budget. Many buyers, especially first-time buyers, think
they have to find the "perfect" house. The reality is that there
may not be a “perfect” home in your price range. Oftentimes a
home may need cosmetic repairs or updates (kitchen, bathrooms,
etc) to turn the house into the "perfect home" you're looking
for.
Also, keep in mind that this may not be the
house you live in the rest of your life. The average person
purchases 5 homes in their life. With that in mind, a good buy
can be a stepping stone to your next home, which may be one down
the road that ends up being the “perfect” home. And don't let
things like things like the color of the carpet or poor
landscaping affect your decision. These are things that can be
done inexpensively while adding your own "personal touch" to
making it a home.
|
