Four things you should consider before making an offer on a home.
How do you know if you’re getting a good deal on a home? Buyers are often concerned about this as they search for a house, so we want to give you a few ways to tell. Take these four things into consideration before making an offer:
1. Price. Price has to come first in any market. To determine what you can comfortably afford, talk to your real estate professional. They will recommend a lender who will pre-qualify you for a loan. When you know how much you can spend, it’s a lot easier to shop within your price range.
2. Features. The size of your household and the activities you like determine the features you want in your next home. You may want an extra bedroom for guests or a second master suite for your parents. Think about your daily life and how your next home can accommodate what you do. This will form your must-have list.
“When you know how much you can spend, it’s easier to shop within your price range.”
3. Location. Some areas will always be more expensive than others. Well-kept neighborhoods tend to maintain higher values, and homes closer to jobs, schools, and shopping centers sell for more than ones without as much infrastructure. What’s the best home for the area you want to live in? If they’re out of your price range, you can compromise by buying a smaller house or one that needs work.
4. Condition. Does the home have curb appeal? Is it updated and well-maintained, or does it need extensive (and expensive) remodeling? Consider any deferred maintenance like a worn roof or an old water heater. Do the design and functionality fit your needs? The one advantage of buying a home that needs repairs is that it will cost less than other houses in the same neighborhood.
If you have any questions about selling your home or a topic that you’d like us to cover in a video, give us a call or send an email. We’d love to hear from you.