Ten tips to take trauma out of home-buying
Some folks who have never navigated the complex trail leading to the prize of owning your own piece of paradise, may find this process a little daunting.
On the other hand, even if this is your second, third or fourth venture into home-buying, the current volatile housing market may be making you a little nervous about whether this is the time to buy a home.
Remember that most of the news headlines are not about the Spokane housing market which has been affected less than most. Here are a few things that may help make the process a little easier:
•Find a real estate professional who is simpatico. Home-buying is not only a big financial commitment, but also an emotional one. It’s critical that the practitioner you chose is both skilled and a good fit with your personality.
•Remember, there’s no “right” time to buy, any more than there is a right time to sell. If you find the right home now don’t try to second-guess the interest rates, or the housing market, by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.
•Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.
•Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.
•Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.
•Remember your home doesn’t exist in a vacuum. Don’t get caught up in the physical aspects of the house itself – room size, kitchen — that you forget such issues as amenities, noise level, etc, that have a big impact on what it’s like to live in your home.
•Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
•Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.
•Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time is a big commitment, but it also yields big benefits.
•Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.