Home Buying Tips and Advice Learned from Going Through the Process

Recently I went through the home buying process and learned a lot along the way. I figured I would share what I learned to help others out there who are looking to purchase a new home. Here are some tips and advice on buying a house. 

When you see a property that looks good, act quickly. Make an appointment to see it soon. If you like it enough to make an offer, don’t wait. Put in the offer soon. The more time you wait, the more time it gives others to see the property and make competing offers. 

Don’t expect to get a good deal on a good home. In a competitive market, any good property is going to have a lot of interest which means it is likely to get several offers. If you want to get the property, you have to have the best offer. This means it is usually going to be at asking price or even higher. If you put in a low offer trying to get a good deal, someone else with a higher offer is going to get it. 

Seasons have an effect on the housing market. Home prices tend to be lower in winter and higher in the summer. There also tends to be less of a selection in the winter and more of a selection in the summer. 

Look at the sale history of the property. If it is being bought and sold frequently such as every few years, it means people don’t like it enough to stay. If it has a history of long ownership such as 10+ years it is a sign that the people like living there. 

When you are touring a house, try to visualize living there. Think about what it would be like to live there. Think about your every day life and what it would be like if you were there. It can be hard to get a full understanding of a house with one visit. If possible you may want to visit it again at another time of the day such as at night. 

See a lot of different kinds of houses and different locations. The more options you see, the more you can figure out what you like and don’t like. There are so many factors to consider when buying a home and getting out to see them in person is a great way to compare these different factors. 

Pay attention to the showing agent’s observations of the property. Often they will see things about it that you might have missed. Also it can help to bring other people with you too see the property also and they may also be able to notice issues that you might have missed otherwise. 

Expect to pay more than you thought. There are plenty of cost estimators out there but once you get into the process all of a sudden there are more charges than you thought and things are more expensive than you thought. Make sure you have plenty of buffer room and backup funds to cover it. 

Shopping for a house is fun. Buying a house is not fun. It is fun to get to tour houses and see what’s out there in the beginning. Once you get an offer accepted, that is when the fun stops and the work begins. Working with realtors, attorneys, and loan officers can be time consuming and stressful. Negotiations, contracts, qualifications, inspections, you name it. There is a lot to do and you have to get through it all if you want to make it happen. 

Buying and selling homes is very expensive with all the fees and commissions involved. Frequent buying and selling is not very cost effective. If you are going to buy, look for something that you will be happy living with for a long time.