9 questions you should ask yourself before making an offer on a home

Hello friends, a few weeks ago I wrote a post on Buying a home-The first steps and in that post we covered a lot of what to do in the early stages of buying your first home things like Deciding to buy, What questions to ask yourself first, who to call first, who to call next, what role will your real estate agent play and finally we went shopping and we discovered just what style home we liked. With all that being said isn’t it only fitting we ask ourselves a few questions before we make the next very important step?

9 questions you should ask yourself before making an offer on a home:

Questions to ask yourself

1.       What do I want my home to be close to?

2.       How much space do I need and why?

3.       Which is more critical: location or size?

4.       Would I be interested in a fixer-upper?

5.       How important is home value appreciation?

6.       Is neighborhood stability a priority?

7.       Would I be interested in a condo?

8.       Would I be interested in new home construction?

9.       What features and amenities do I want? Which do I really need?

Friends these are all interesting question that need considering let’s break a few down!

What do I want my home to be close to? 

Schools, highways, malls, parks, shopping, restaurants or maybe close to where you work.  Do you have kids who is about to start school or teen kids who needs to go to the local high school or do you need to be near a bus or train route? All are good questions to ask yourself.

How much space do I need and why?

Do you need a lot of space or not so much? Sometimes we find that our wants doesn’t meet our needs or sometimes we have to choose between the two however we can sometimes jive them both but that may require more dollars out of your pocket. This is when what is priority comes into play.

 

Which is more critical: location or size?

Now here is a doozey: which is more critical? Do you want the big house no matter what it causes you as long as it’s big and roomy or do the 3 critical in real estate means more to you: Location, location, location? This is a question you may want to consider strongly!

Would I be interested in a fixer-upper?

Now I really love this question because I love me a fixer-upper but it’s just not for everyone: This is a good question because sometimes you can really find a bargain or should I say a diamond in the rough if you’re open to it. Really this is something you should consider if your finances don’t allow you to purchase a house with all the trimmings. Now what does that mean? It simply means you can buy a fixer-upper and do to it what you please and buy it for less. Now of course you want to make certain it makes sense and more important dollar cents too. I know! We just said you can get a bargain and that is true but sometimes a fixer- upper could be a money pit so make sure your doing the right thing. 

How important is home value appreciation?

Friends it’s been a while from the time when I was in the real estate business but I know that this question is still on the top of most home buyers list. How important is value? I personally would say it makes common sense even dollar cents to be conscious of it for it will structure the future of the selling of your home someday. I know we all buy a home and fall and love with it and we’re going to live there for the rest of our lives: Well that is most of our intentions but in all reality things happens beyond our control which will cause us to make changes and sometimes it means selling our homes. So how important is home value appreciation? I don’t know about you but for me its take priority and I hope it will for you as well.

 

Would I be interested in new home construction? 

This question is often a topic of discussion for some homebuyers because sometimes you know that a new home don’t come with all the problems maybe an existing home comes with. New construction can provide you with the confidence of less house work. Most people like the idea of being the first to ever live in that home and that can be something special to a new homeowner as well but is new construction always the best way to go? Some love the charm of an existing home and all the amazing hard work of the days of old craftsmanship. “They just don’t make it like that anymore” That alone makes an existing home all the more appealing. But for me I’m a fan of both but my preference is existing home for all the above reasons but as a homebuyer make sure to weigh your decision close to your heart and you will make the best decision for you and your family.

 

What features and amenities do I want? Which do I really need?

I know, I know you will love to have a pool and live near a golf course but are these most important things you need to consider in purchasing a particular home? Now I’m not mad at you if you do because sometimes this is what’s most important to a home buyer. All homebuyer aren’t created equal because everyone has different needs but if we can all agree on one thing is that all of us has to prioritize our needs. The questions you should ask yourself are what are most important to me to live in this house or neighborhood? Now am I saying to settle no to the contrary? Most will find if they prioritize they will end up with whats needed and even get some of their wants on the list. 

Friends I hope this real estate tips has been informational and helped inspire you to get out with confidence and purchase your new home. 

Let me know what you think in your comments below!

xoxo 

Shinay Key

Buying a Home-The First Steps

Hello friends, happy Monday. How are you? A while back I had the chance to talk to a good friend who recently made a big decision and now reaping the benefits.  I guess I should tell you what I’m talking about Right! A friend of mine just recently bought her first home and it got me to thinking, how many of us know the first steps to buying a home? Now, I’m not sure if I’ve told you I was once a real estate agent in another lifetime ha! "You didn't know that did you” I’m sure by now you figured that I love real estate along with my obsession with interior decorating. I can’t tell you how many times someone has come to me and said” buying a home is a huge decision” and yes your right. Buying a home is a big decision. Home ownership is one of those unexpected investments. But I believe if the process is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choices. Although there are many good reasons for you to buy a home but friends did you know wealth building ranks among the top of the list? Hmmm interesting ha! I always say that buying a home lays the foundation for a life of financial security and there are solid financial reasons to support the decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out. Furthermore let’s talk about the first steps you must make to support your buying decision.

 

1. Decide to buy.

You’ve been living in that small apartment for a few years now. You worked hard and saved as much as possible. Now it’s time to decide to buy a home.

Questions you may ask yourself! First 

Can I afford to buy a home?
If you are paying rent, you very likely can afford to buy.

When is the best time to buy a home?
There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run.

What if I don’t have a large enough down payment?
The lack of a substantial down payment doesn’t prevent you from making your first home purchase. You don’t always need a large down payment.

What if my credit score isn’t good enough?
A less-than-perfect credit score won’t necessarily stop you from buying a home. Don’t count yourself out before you know all the facts.

This is a complicated process. How do I go about buying my first home?
Base your decision to buy on facts, not fears. Buying a home doesn’t have to be complicated – there are many professionals who will help you along the way. 

 

2. Who to Call First!

The first professional you should call is a loan officer (or mortgage specialist). Make a loan application and get pre-approved and therefore you can determine what you want to pay and secure financing.

 

3. Who to call next?

Hire your agent.
That’s right friends now it’s time to hire your agent better known as Realtor (or Real Estate Agent). The typical real estate transaction involves at least two dozen separate individuals – insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.

What Role Will Your Agent Play?

A Buyer’s Real Estate Agent:

1.       Educates you about your market.

2.       Analyzes your wants and needs.

3.       Guides you to homes that fit your criteria.

4.       Coordinates the work of other needed professionals.

5.       Negotiates on your behalf.

6.       Checks and double-checks paperwork and deadlines.

7.       Solves any problems that may arise.

So friends as you can see your real estate agent plays a very important role in helping you purchase your home so make sure you ask the right questions before you hire him/her to help you with your biggest investment. Here are 8 qualifying questions to ask your real agent before you go on your first appointment.

1.       Why did you become a real estate agent?

2.       Why should I work with you?

3.       What do you do better than other real estate agents?

4.       What process will you use to help me find the right home for my particular wants and needs?

5.       What are the most common things that go wrong in a transaction and how would you handle them?

6.       What are some mistakes that you think people make when buying their first home?

7.       What other professional’s do you suggest we work with and what are their credentials?

8.       Can you provide me with references or testimonials from past clients?

Sweet friends now that you have asked the qualifying questions as your starting point in hiring your licensed, professional real estate agent it is now time to go shopping.

4. Let’s Go Shopping!!

Find your home.
You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long – if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms. Let's have some fun with it! Let’s start by looking for style of a home. We’re going to play a little game. Here are few homes in different styles you choose which one suits you most.

 
Which Style Home Suits You Best?

  

Cape Cod Style House

Mediterranean style house

Traditional Style House

Country French Style House

 

Colonial Style House

Victorian Style House

Tudor Style House

Craftsman Style House

Cottage Style

Contemporary Style Home

poll by twiigs.com

Well friends now that you chose the house that most suite your style. The next step will to be make an offer – We will stop here and in our next post we will discuss what comes with making an offer on your home.