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10
Things to Take the Trauma Out of Homebuying
1. Find a real estate agent that’s simpatico. Homebuying is
not only a big financial commitment, but also an emotional
one. It’s critical that the agent you chose is both skilled
and a good fit with your personality.
2. Remember, there’s no “right” time to buy, any more than
there’s a right time to sell. If you find a 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.
3. 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.
4. Accept that no house is ever perfect. Focus in on the
things that are most important to you and let the minor ones
go.
5. 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.
6. Remember your home doesn’t exist in a vacuum. Don’t get
so 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 new home.
7. 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.
8. 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.
9. 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.
10. Choose a home first because you love it; then think
about appreciation. While U.S. homes have appreciated an
average of 5.4 percent annually over from 1998 to 2002, a
home’s most important role is as a comfortable, safe place
to live.
Reprinted with permission from Realtor.org.
Download the Fannie Mae Foundation's FREE step-by-step
information and get started on the path to homeownership
today.
http://www.homebuyingguide.org/
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