Kim Cook's Blog
Purchasing a home should be fun, memorable process. However, many homebuyers struggle with fears as they embark on the process of acquiring their dream homes.
Some of the most common homebuying fears include:
1. I will pay too much for a house.
Overspending on a house is a common fear among homebuyers nationwide.
If you pay too much for a house, you may struggle to afford the monthly payments for the duration of your mortgage. Perhaps even worse, your house may lose value over time. And if you eventually decide to sell your home, you may be forced to accept less than what you initially paid for it.
Ultimately, an informed homebuyer will understand the differences between a buyer's market and a seller's one. He or she will be able to determine whether a home is affordably priced and proceed accordingly.
An informed homebuyer also will know the importance of getting pre-approved for a mortgage. With a mortgage in hand, this homebuyer will understand exactly how much that he or she can spend on a house.
2. I'll wait too long to submit an offer on a residence.
If a homebuyer is uncertain about buying a particular house and waits too long to submit an offer, he or she risks missing out on this residence altogether.
Fortunately, there is a simple way to avoid this problem.
A homebuyer who knows what he or she wants to find in a dream home can narrow a home search. Then, if the homebuyer discovers a home that matches or exceeds his or her expectations, this individual can submit an offer right away.
Don't forget to submit a competitive offer, i.e. one that accounts for the needs of both a homebuyer and home seller, as well. A competitive offer will stand out from other proposals and increase a property buyer's chances of securing his or her dream residence.
3. I'll buy a home that will fail to maintain its long-term value.
What you pay for a home today is unlikely to remain the same over the course of several weeks, months or years. But a homebuyer who employs an expert home inspector can learn about a house's strengths and weaknesses and ensure a property is a viable long-term investment.
A home inspector will conduct an assessment of a house after a property seller accepts a buyer's proposal. At this point, an inspector will examine a house's interior and exterior and identify any potential issues. Lastly, a home inspector will issue a report with his or her findings, and a homebuyer will have a final opportunity to modify or rescind an offer on a house.
For homebuyers, it is important to work with a trusted home inspector – you'll be glad you did. This home inspector will go above and beyond the call of duty to evaluate a house before you finalize a home purchase.
Working with an experienced real estate agent may benefit a homebuyer too. With a top-notch real estate agent at your side, you can get the support you need to acquire a first-rate home that will maintain its value both now and in the future.
Everyone is looking for something different when it comes to finding the ideal home. While some people prioritize architectural styles and curb appeal, other house hunters place the most value on the quality of the school district and proximity to jobs.
Neighborhood quality is also a significant factor in house-buying decisions. What exactly does "neighborhood quality" mean, though? Although definitions may vary, the characteristics that are typically considered to be desirable include a low crime rate, relatively light street traffic, a minimal amount of "noise pollution," and neighborhoods in which houses and properties are consistently well cared for and in good condition.
If peace, quiet, and tranquility are high on your list of house-buying requirements, here are a few other items you might consider adding to your "wish list."
Space between neighbors: While it's generally a good thing to get to know your neighbors on a first-name basis, you don't necessarily want to get to know them too well -- or vise versa! In other words, it's nice when you can sit out on your back porch without having to be too concerned about being overheard or needing to edit your conversations. If privacy is a top priority for you, then you might want to limit your search to properties that provide a comfortable buffer zone between houses.
Greenery and privacy hedges: A residential street with green, well-tended lawns and mature, leafy trees is not only visually appealing, but it's also a sign that people take pride in their property and care about the neighborhood. Homes for sale that offer a "park-like setting" on a nice street can be the ideal environment for creating a private, backyard refuge.
Fireplaces: Even if a fireplace is not on your "must have" list, it's a relatively inexpensive luxury to have and enjoy during the holidays and when the temperature drops. Regardless of the climate in which you live, there are going to be plenty of wet, cloudy, or snowy days during the winter months. When the weather turns chilly, there's nothing like a crackling fire in the fireplace to infuse your home with a cozy, relaxing atmosphere!
Large windows: Large bay windows, picture windows, and floor-to-ceiling windows not only let in a lot of natural light, but they also help you enjoy views of your neighborhood and backyard. That combination of sunshine, green foliage, a well-landscaped property, and the smell of freshly cut grass can set the tone for a relaxing home environment -- both indoors and out! Along those same lines, a sunroom can also be a highly desirable feature in a new home you're considering buying.
Although there are a ton of things you can do to enhance the beauty and relaxation value of your next home, the starting point is to find a peaceful neighborhood and a spacious, nicely landscaped property on which to add your own personal touches.
9 Wyndbrook Lane, Tyngsborough, MA 01879
Ready to make your homeownership dream a reality? In some cases, you may need to submit a home offer that surpasses a home seller's initial asking price, and these cases include:
1. You've fallen in love with a house.
Once you've found your dream residence, you'll want to do everything possible to secure this home as quickly as possible. Therefore, if you fall in love with a house, you can submit an offer that exceeds a home seller's initial asking price in the hopes of streamlining the homebuying journey.
Of course, before you submit an offer on any house, it is paramount to understand what differentiates an average home from a great one.
A great residence is one that you can enjoy both now and in the future. It likely will require minimal initial repairs, and as such, will be worth your time and resources.
2. You are facing steep competition.
For homebuyers who are competing for a high-quality residence in a buyer's market, it often pays to submit a home offer that surpasses a homebuyer's initial asking price. By doing so, you can guarantee your offer will stand out from others and boost the likelihood of securing your dream residence.
In a competitive real estate market, there is no need to hesitate to submit an above-average home offer, either.
A home offer that impresses a homebuyer may set the stage for a quick home sale. And if you put your best foot forward with a home offer, you should have no trouble acquiring a terrific residence, regardless of the current housing market's conditions.
3. You have substantial financial resources at your disposal.
A diligent homebuyer may choose to get pre-approved for a home loan. As a result, this homebuyer may be better equipped than others to submit a home offer that is higher than a home seller's initial asking price.
For example, a homebuyer who receives pre-approval for a home loan can start the homebuying journey with a budget in hand. This homebuyer then can check out houses that fall within his or her price range. And after this homebuyer discovers the perfect house, he or she can make an above-average proposal to acquire the residence.
To get pre-approved for a home loan, a homebuyer should meet with multiple lenders. Next, this homebuyer can review various home loan offers and select one that corresponds with his or her finances.
Lastly, if you need extra support during the homebuying journey, it pays to collaborate with a real estate agent.
A real estate agent will help you evaluate a broad array of houses in your city or town. In addition, this housing market professional can help you put together the right offer on a house to ensure you can secure your dream residence in no time at all.
Take the next step to acquire your ideal house – reach out to a local real estate agent today, and you can move closer to finding and purchasing your dream residence.