You Want to Buy a Home Not Be Married to a House

Posted: October 29, 2013 in Buyers, General Information
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Buying a HomeKnowing what’s involved in purchasing a home can save you a lot of aggravation and frustration. Putting the talent of a Real Estate agent to work for you is smart and free to you as a purchaser.  You’ve heard it before that purchasing a home is for most people their greatest expense so you need to have all your financial witts when you’re out there looking to buy. Consider that you’ll spend between 30 to 60 minutes to buy a 300 to 400K home in comparison to 20 minutes to buy a $100 suit. Buying or selling a home for that matter is very emotionnal and you need to keep a clear focus on your needs. Now, notice that I said needs and not wants. Keep an open mind as reality would have it that all your wants will not be met in a home that would be perfect for your needs.  False expectations can be a real dream shatterer.

What you consider, before stepping over the fence, could save you plenty. Consider the costs such as home maintenance, property taxes or payment to the sellers for prepaid taxes, home inspection, moving fees, utilities and deposits and re-sell value.

Are you renting right now? What about your monthly payment? Will it be more than what you are paying in rent right now? Most likely it will be. How much can you actually afford? Here’s where you want to be able to have breathing room. You want to buy a home, not be married to a house. Will it affect your lifestyle? Will you be able to afford going to the show once a month or will you have to hibernate until the mortgage is paid off? If your mortgage payment will be less than what you are paying for rent and you have been able to save 20% of a downpayment, then you should look at purchasing a home.

When demand is low and supply is high, it’s definitely a buyer’s market. And when interest rates are as low as they are now, it’s definitively a great time to make the move and become a home owner.

Traditionally many people thought of spring as the best time to look for a home and certainly because of the greater inventory of homes on the market the choice is greater but the other side of the coin also proves true that you will have to fight your way along with other buyers, your competitors. Serious buyers will continue their search in off season as they know that those sellers are serious about selling their home and probably more open to negotiation because they know that you are also a serious buyer.

Get started now by signing up to receive listings as soon as they come on the market sometimes even before Real Estate agents know about them.


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