Home buying is always a momentous event, especially for newlyweds or couples who are just starting out. The only thing is that most people get into big mistakes in their home buying venture. A main reason is falling in love with the first great home for sale they set their sights on. It's true that lots of homes for sale are great, but there will always be that single one that will beat the others in every major aspect and down to the tiniest details. You don't have to be a perfectionist in home buying, but you at least have to be careful and well-informed.
Have a plan and then stick to it. If you don't, you may end up searching for a long time and not finding your dream homes for sale in the time-frame you have alloted yourself.
Start with a Sensible Checklist.
A pad and a pen are indispensable. Begin writing down all the things you require realistically in your new home. Categorize all the needs and wants and make a few copies. Now, each time you visit homes for sale, take your list with you and tick off all the requirements that fit your needs and wants. Your list of pro's may include proximity to school, to your workplace, privacy and quiet of the neighborhood, spaciousness, price, structural integrity of the house, good view, safety features, etc. Put the address and description of the street on this page as well. That way you won't mismatch and confuse houses for sale with each other at the end of the day. Remember, your pro's list can be revised over and over again during the course of your home buying endeavor.
Be Practical.
Many newbies in home buying enlist the services of a real estate agent in finding them appropriate homes for sale that fit your criteria. However, don't rely totally on your agent. If you want full control of the home buying process, try shopping around yourself. Let your fingers do the walking at several online classifieds with free listings of homes for sale. This way, you'll gather some ideas and information on current market values for homes and other real estate properties for sale in the area you wish to live in. In turn, you will be in a better bargaining position with home owners.
Sign up on the Web.
Today, home buying has been made considerably easier by websites that lists homes for sale for free. These websites, besides being comprehensive resources for real estate listings, also offer home buying tips. Browse homes for sale preferably with photos so you have a sneak preview of the property. Also, bear in mind your list. This way you can reject the ones you don't want to visit. This will save you time, energy, and petrol. Of course, follow up any homes that look like what you want in your list.
When visiting homes for sale, don't hesitate to ask the real estate agent plenty of questions. Be pleasant about it and thorough. Take time to scrutinize the home; bathrooms, floors, water pressure, lights etc., but don't be too snoopy. Just be sure to look in all the places you want to so you know if you are going to get a good deal.
Confirm the Starting Price.
If prices are set, they would be called the 'selling prices.' For this reason, you must compare the starting price of homes for sale to recent sales and auctions in the area. Your real estate agent should be an expert at providing these details to assist you with the validation of the seller's asking price. Technically, a home's starting price must be within the range of prices of other homes for sale in the area, unless, of course the particular home you have your eyes on has considerable amenities that tip the scale.
Visit during Rush Hour.
Visiting homes for sale on a Sunday at 11:00am is one story, and quite a different one if you do it during weekdays, between 3:00pm and 6:00pm. This is the time when the children are collected from school and work, and traffic is rushing home. If you visit homes for sale in the evening, you'll be able to experience some of the things that you will have to go through when you finally are living in that place. This includes traffic jams that might make it more difficult to access the house. Also you'll be able to find out how noisy the neighbourhood is at the busiest time of day.
How far is it from Work?
If you have decided on your prospective home, it's time to find out how long it will take you to get to work in the morning traffic. It may seem unnecessary, but think about how much time you'll spend traveling each day and the expense of fuel used.
Changes that could Occur
Your solicitor will find out what plans are in store for the surrounding area. You may find out that the park close by may become a shopping centre or a new road in a few years. You won't know unless you do the research. Don't expect the vendor's agent to volunteer any information. It's not in their interest to do so.
Free Home Buying Grants
Buying a Temecula or Murrieta home in a buyer’s market can actually be very challenging for all the exact reasons you might think it will be easy. Remember the goal is to get the best home that meets your goals and represents the best investment for your family. What are some of these buyer market benefits?
- Ultra high supply of home listings
- Good ability to negotiate price and terms
- High competition between sellers
No matter how you slice it those bullet points are a great thing for buyers, right? Believe it or not this can cause a lot of hesitation and consternation for buyers. How so you ask? Let’s say you find the ideal Temecula home in a wonderful neighborhood on a perfect cul-de-sac street and filled with lots of upgrades. You love the layout but the owners are stuck on price and just two streets away is the exact same floor plan, not as nice of a home in terms of lot and upgrades, and the street isn’t a cul-de-sac but the price is 30k less. And then just another street away is another model match with no upgrades, stained carpet, and priced 15k less.
Now you think how nice it would be to get the first home for less but the seller’s won’t budge and honestly it is priced fair when considering all variables. In fact, since it is a down market, it is lower priced then it has been in years. But were are in a buyer’s market and it is galling to pay 45k more! And witth just an additional 10-15k, you feel like you could rehab the cheapest model match and still have a nice home. So, after a lot of soul searching you make an offer on the lowest model match and figure you will fix it up. By paying 45k less and putting in 10k, you save 35k in theory for the same neighborhood and house just a few streets away.
This sounds like a great idea but the problem is that once you move in, you have a hard cost to you to make repairs versus a simple increased payment. So you get a equity loan or tap your savings and put 10k into the property and get all new carpet, paint, and some tile in the bathrooms. That’s it and you have burned all that cash. You also live there for the average of 3-5 years and have “elbow grease" projects every weekend. While fun at first, this gets old fast and you are tired of cars buzzing through the street and constantly wish you were on the cul-de-sac. You also feel uncomfortable inviting people over until you get it all “fixed" and thus are not enjoying the house as much as you planned.
This may sound worst case scenario but I have seen this several times this year alone. The real sad part is 35k (45K – 10K) more would have cost an average of $210 more a month. Over 5 years that will finally equal the 10k you put into the bargain property and you have had to work every weekend, haven’t enjoyed the house, never invited people over, or even had a weekend BBQ!
Also, no matter what you put into the home, you can never equal the home with the better lot, upgrades, and incredible cul-de-sac street. That could be your kids playing neighborhood basketball safely or your family enjoying a safe block party. After 3 years you have grown tired of worrying each time your kids go out to play due to drive through traffic and decide to sell the house. Guess what? The market is still a tough and people are very picky, looking for that perfect, upgraded, cul-de-sac home you passed on!
This article is an example of a buyer seeing high inventory and pricing deals but losing common sense and thereby making a bad decision. How many times have you seen people get caught up in major sales and buy something they don’t even want because it was such a good deal? This is happening a lot right now and it gets worse if a person waits three years and finds they can’t afford to sell the house at that time. Then they continue to be stuck in a home that they do not like when the could of really enjoyed and been proud of a home they purchased in the first place.
Looking for a diamond in the rough is savvy. But don’t forget your goals amid all the Temecula and Murrieta home listings and price drops. Don’t be disappointed if someone won’t come down in price. Just make sure your Murrieta or Temecula real estate broker does the necessary property research and enables you to discern a fair or even aggressive price for that perfect home.
Both Barbara Thorp & Stefan West are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Barbara Thorp has sinced written about articles on various topics from Personal Desktop, Web Development and Stress Management. Barbara writes articles and press releases for - which offers a comprehensive list of office & commercial real es. Barbara Thorp's top article generates over 22200 views. to your Favourites.
Stefan West has sinced written about articles on various topics from Property Sale, Stress Management and Business and Finance. As a professional , Stefan West has an expert knowledge level of South Riverside County and North San Diego County Real Estate.. Stefan West's top article generates over 12100 views. to your Favourites.
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