Lydia Maria's Blog
A homebuyer is an interesting person, and perhaps it is easy to understand why.
Each homebuyer is different, yet every property buyer shares a common goal: to acquire a top-notch house at a budget-friendly price. Furthermore, how a homebuyer approaches the property buying journey may dictate how long it takes this individual to accomplish his or her ultimate goal.
So what does it take for a homebuyer to become a homeowner? To find out, let's analyze the homebuyer's perspective and consider three steps that a homebuyer can take to speed up the property buying journey.
1. Know What You Want to Find in Your Dream Residence
No two homebuyers have the same definition of a "dream" residence. As such, it is up to you to define the criteria for your home search, and doing so may help you accelerate the homebuying cycle.
Differentiate between "must-haves" and "wants" before you kick off your home search – you'll be glad you did.
"Must-haves" refer to things that you absolutely need from your dream home. Some of the most common must-have home features include a fenced-in backyard or multiple bedrooms.
On the other hand, "wants" are things that you would like to have but can live without. These may include an indoor swimming pool, a spacious basement or other non-essentials.
After you define your dream home must-haves and wants, you can narrow your search for the ideal house. Then, you can move one step closer to transforming your homeownership dream into a reality.
2. Get Pre-Approved for a Mortgage
Let's face it – every homebuyer wants to acquire an excellent residence, but no one wants to break their budget to purchase a house. Thankfully, you can meet with a variety of banks and credit unions to get pre-approved for a mortgage before you embark on your quest for the ideal house.
Getting pre-approved for a mortgage can be fast and simple. Meet with several lenders, and you can explore all of the mortgage options at your disposal.
Also, don't forget to ask questions about different types of mortgages. This will allow you to become a mortgage expert and select a mortgage that matches your finances perfectly.
3. Collaborate with a Real Estate Agent
As a homebuyer, entering the real estate market can be overwhelming. But with a real estate agent at your side, you can get the support you need to secure a first-rate house at an affordable price, regardless of the current housing market's conditions.
A real estate agent is a housing market professional who will go above and beyond the duty to serve you in any way possible. He or she will set up home showings, keep you up to date about new residences as they become available and negotiate with home sellers on your behalf. Plus, if you ever have homebuying concerns and questions, a real estate agent will be happy to respond to them at any time.
Ready to acquire your dream residence? Now that you understand the homebuyer's perspective, you can take the guesswork out of finding and buying a residence that matches or exceeds your expectations.
You may have looked up what the estimate of your home’s value is online. This is purely a number based on what other homes in the neighborhood are selling for. There are some obvious factors that you need to know to calculate your home’s value. These include: how many bedrooms, how much square footage and how much land the home resides on. There are some not so obvious factors that are included in calculating the value of a home. Here’s some things that typically affect a home’s value:
The Street Name
As bizarre as this sounds, it’s true. Whatever suffix that your street name ends in can have an impact on the price of a home. “Street” is less expensive than Boulevard, Road or others. You may even be lucky enough to live on Park Place or Boardwalk!
Your House Number
People have superstitions and varying beliefs. Whether it’s numerology or the fact that you live at an infamously unlucky number house, buyers will be less attracted to your place. This is another one of the stranger factors you must keep in mind when it comes to valuing your home.
If you live close to any neighbors, they will play a factor in how much you can get for your home. If your next door neighbor has strange taste in paint color or has built an eccentric shrine in his front yard, potential buyers may be turned off. You can’t pick your family. However, if you’re moving you do have a say as to what kind of neighbors you’ll surround yourself with. Be prepared for this to affcet your home value if this is the case.
Did you know that trees increase the value of your property? When properties are being built, trees are often cleared away. If you have trees around your property that have grown, you’ll find that you can get a bit more for your home. Want to add value to your home? Get planting!
Crown Moldings Are King
People love crown molding. You can put in crown molding as an easy way to add value to your home and be more attractive to buyers. While buyers look for high ceilings, crown molding can certainly be a deal breaker.
Your Hobbies Are A Buyer’s Hobby
If you have anything in your home that buyers love, they’re more likely to want to buy the home. If you’re a huge football fan, and a buyer comes along with matching interest, you could add some more attention to your home. The reason is that buyers can easily see themselves there due to the shared interest. But, this also has a reverse effect. Not everyone is a football fan. If you want to appeal to a larger pool of buyers, (which you probably do) you may want to get the extensive hobby paraphernalia out of your home before it’s shown.
A Crime On The Property
If there was a death on the property or a significant crime, people will be turned off. This will significantly affect the value of your property. You’ll most likely have to reveal the death or the crime in the buyer’s disclosure as well based on legal requirements.
Whatever is nearby could have a significant effect on your home’s value. Whichever kind of grocery store or restaurants are nearby can really help the value of your home. People love their daily coffee! If there’s a unique coffee shop down the street, or a popular grocery chain, you could be looking at potential gains on the value of your home.
- The quality of their Web site: If a real estate agent has a Web site that looks disorganized, amateurish, or outdated, then that could speak volumes about their own flaws. In this day and age, a fully functional and professional-looking website is an essential marketing tool in the real estate business. Having access to the latest marketing tools and techniques is a vital aspect of selling your home in the shortest possible time. Agents who are not making full use of the Internet to market their listings are doing themselves and their clients a disservice. If they can't present themselves in the best possible light on the Internet, then it raises questions about their presentation style, in general. On the other hand, if a Realtor or real estate agent maintains an up-to-date, professional-looking website that is user-friendly and loaded with helpful information and search capabilities, then that's one indication they're conscientious, resourceful, and in touch with relevant technology. A timely and informative blog is another positive sign that they're tech-savvy and passionate about what they do for a living.
- Attitude and energy level: A great real estate agent has the ability to look at the "big picture" and realize that there will be peaks and valleys in every transaction and marketing campaign. If you choose them over the competition, you'll eventually depend on that agent to be a problem solver, a cheerleader, and a source of positive inspiration throughout the process. When you take into account how much is riding on the sale of your home, you realize the importance of selecting a well-organized, professional, and highly motivated agent. If you're interviewing one that spends too much time complaining about market conditions, other clients, or all the "red tape" involved in real estate transactions, then RUN -- don't walk -- to the nearest door! (That advice would, of course, need to be modified if you're meeting with them in your own home.) Here's the bottom line, though: To be able to capitalize on opportunities and produce the best possible results, a great real estate agent needs to maintain a positive attitude -- especially in the face of temporary setbacks.