Buying a home will most likely be the biggest investment you make in your life, and we here at CORE want to make sure you are 100% informed and ready for the commitment! Here are a few things to consider before you purchase your first or even your eighth home!
"Not talking to a Lender first"
This one is hard, you see a home you want, call the first agent on your list, and race out to take a peek! In this market though, sellers are looking more and more for pre-qualified buyers that know what they will be comfortable paying each month. Talking with a lender and even getting quotes from several will only benefit you in the long run so that you know what a house payment will cost you depending on the price and taxes of the home. Having your pre-qualification letter in hand will help you to jump fast on the home that you fall in love with instead of missing out waiting for an appointment with a lender first!
"Waiting too long to make a Decision"
At the moment, our home inventory hovers around a 2 month supply here in Ada and Canyon Counties. That means homes are going rather quickly and some buyers are just barely missing out on their dream house! It is always a good idea to take some time to think and discuss, but if you know it's "the one," jump on it! That home may or may not be available once you finally sit down at the end of the week to discuss it with your kids or furry family members. Feel confident in your decision, but don't wait too long!
"Offering too little on a House"
This is in a similar vein to the above points, there is nothing wrong with a lower offer, but make sure to prepare yourself just in case you miss out! Since homes are hot, offers are coming in at and even above asking price, but that doesn't mean the seller won't consider a lower offer. Just make sure now to low-ball too hard. Talk to your agent and find out what would be a reasonable offer, and be open to negotiation!
"Relying on friends and family members for Advice"
If you've ever gone shopping for anything in your life, you know that mom and dad or your bestie can sometimes have opinions that aren't exactly what you are wanting to hear! When you find the perfect home, make sure and focus on what is right for you. What is right for you might not be right for Stephanie down the street! Do your research, listen to what others have to say, but ultimately, you will be the one purchasing and living there so listen to your gut!