Our Real Estate Blog
430 Cartier Street, Manchester, NH 03102
When it comes to buying a house, it usually pays to be flexible. Because if you take a flexible approach to the real estate market, you'll be open to checking out dozens of residences and can improve your chances of finding a house that matches or exceeds your expectations.
Although flexibility can play an important role in a successful homebuying journey, buyers sometimes struggle with stubbornness. Fortunately, we're here to help you become a flexible homebuyer who can achieve the best-possible results throughout the homebuying journey.
Now, let's take a look at three tips to help you become a flexible homebuyer.
1. Get Pre-Approved for a Mortgage
The real estate market constantly fluctuates, and a sector that favors buyers one day may favor sellers the next. However, if you get pre-approved for a mortgage, you can pounce at the opportunity to acquire your dream residence, regardless of when that opportunity presents itself.
Getting pre-approved for a mortgage may prove to be a quick, seamless process. Typically, you'll want to meet with local banks and credit unions and learn about a wide range of mortgage options. Once you have mortgage information, you can select a mortgage that corresponds to your finances.
Remember, pre-approval for a mortgage opens the door for a successful homebuying experience. It can help you establish a budget for your dream home by providing you with a set amount that you can spend on a residence. As a result, after you find an ideal house that falls within your price range, you'll have the flexibility to move quickly to acquire this residence.
2. Consider Houses in a Variety of Cities and Towns
Evaluate your homebuying goals – you'll be glad you did. If you understand where you want to live, you can explore houses in a variety of cities and towns that fit your criteria.
For example, if you want to live near family members or friends in a particular area, you can narrow your home search accordingly. Keep in mind that you don't necessarily have to live in the same city or town as these loved ones. Instead, you can search for houses in assorted cities and towns near your loved ones and ensure you're never too far away from them.
On the other hand, if you want to buy a home that is close to your office in the city, it may be worthwhile to consider houses both inside and outside the city itself. City living generally is more expensive than living in the suburbs, so you'll want to assess your finances closely before you buy a city house. Or, if you prefer small town living, you can always purchase a more affordable residence outside the city and take public transportation to work.
3. Collaborate with a Real Estate Agent
A real estate agent is happy to help you become a flexible homebuyer. In fact, this housing market professional will offer expert guidance during the homebuying journey. By doing so, a real estate agent will help you evaluate many houses and ensure that you can find one that suits you perfectly.
Ready to pursue your dream house? Consider the aforementioned tips, and you can enter the real estate market as a flexible homebuyer.
One aspect of house hunting that some prospective home buyers overlook is security. Perhaps it's because they're looking at homes in "nice neighborhoods, where you shouldn't have to worry about that sort of thing happening." Maybe another reason they're paying little or no attention to security issues is that they're more preoccupied with the layout of the kitchen, the size of the backyard, and the condition of the master bathroom.
Even though there are dozens of details to compare and think about when you're house hunting, security features are important enough to include in your checklist. By letting your real estate agent know that home security is a high priority for you, they'll hopefully point out security features that they notice and perhaps ask the listing agent for any additional information on things like installed alarms systems, deadbolt locks, or security lighting on the property.
As a side note, if the present owner has recently installed an extensive security system in the house, you can also use that as an opportunity (excuse) to inquire about crime in the neighborhood and whether there have been any recent incidents in the area. Additional research may need to be done to ferret out that information.
As you check out different houses that your buyers' agent shows you, here are a few security-related checkpoints to keep in mind:
- Do the doors look solid and are they secured by deadbolt locks?
- Do first-floor windows have functional and securely locking mechanisms?
- Are there any outside floodlights, lamp posts, and/or other forms of illumination around the house?
- Are there any overgrown bushes next to the house that could conceal a burglar's attempt to enter the house through a window?
- Are there any fences on the premises that might discourage a burglar from entering the property?
- Do the main entrances have locking storm doors that provide an extra layer of security?
- Are there any other security vulnerabilities that you or your real estate agent think need addressing, either now or in the immediate future?
When you do find the ultimate house for you and your family, it's always a good idea to change the locks on all external doors as soon as possible. You never know how many duplicate keys have been circulated over the years to contractors, neighbors, cleaning people, pet sitters, house sitters, and family members. One way to take control of your new home's security situation is to make sure there are no extra house keys floating around in the hands of people you don't know.
No one should be forced to break the bank to secure a terrific house. However, a first-time homebuyer may be more likely than others to overspend on a residence, particularly if he or she fails to understand the ins and outs of the housing market.
Lucky for you, we're here to teach you what it takes to browse the real estate market effectively so you can find a house that matches your budget.
Now, let's take a look at three tips to help a first-time homebuyer purchase an affordable residence.
1. Examine the Housing Market Closely
Many great houses are available, and a first-time homebuyer should review a broad range of residences closely. By doing so, this homebuyer can establish a price range for his or her home search.
Evaluate the prices of residences that are currently available in your city or town. That way, you can find out what it costs to afford a home that may serve you well both now and in the future.
Also, assess the prices of recently sold residences in your area. With this housing market data in hand, you can find out whether you're about to enter a buyer's market or seller's market and plan accordingly.
2. Get Pre-Approved for a Mortgage
Pre-approval for a mortgage can help you map out a homebuying budget before you enter the real estate market. Thus, getting pre-approved for a mortgage can make a world of difference for any first-time homebuyer, at any time.
To get pre-approved for a mortgage, you'll want to meet with several banks and credit unions in your area. These lenders can teach you about different mortgage options and help you select one that corresponds with your budget.
In addition, be sure to ask plenty of questions about potential mortgage options before you make your final mortgage decision. This will allow you to understand the differences between fixed- and adjustable-rate mortgages and choose a mortgage that can help you avoid the temptation to overspend on a residence.
3. Collaborate with a Real Estate Agent
When it comes to pursuing a house for the first time, don't leave anything to chance. Instead, collaborate with a real estate agent, and you can streamline the process of purchasing an affordable residence.
A real estate agent helps take the guesswork out of looking for residences. He or she will keep you up to date about new houses as they become available and set up home showings on your behalf. Plus, this housing market professional will do whatever it takes to guarantee you can obtain an affordable house that surpasses your expectations.
Perhaps best of all, a real estate agent will help you alleviate stress throughout the homebuying journey. And if you encounter challenging negotiations with a home seller, a real estate agent will step in and help you get the best price for a residence – without exception.
Ready to purchase a house for the first time? Use these tips, and you can acquire an affordable residence that you can enjoy for years to come.