If you’re buying a home in Aspen, you can benefit from working with a real estate agent – and by knowing these seven homebuying secrets.
7 Homebuying Secrets Most People Don’t Know
Whether you’re buying your first home or your tenth, check out these seven homebuying secrets that most people don’t know:
- Get preapproval first
- Do your research
- Shop within your budget
- Be flexible
- Make an offer that’s fair to both you and the seller
- Have your home inspected (including specialty inspections) before you buy it
- Don’t be afraid to hold the seller accountable for things that aren’t done by closing day
Here’s a closer look at each.
Homebuying Secret #1: Get Loan Preapproval Before You Start House-Hunting
Getting preapproved for a mortgage is one of the most important things you can do before buying a home. It gives you a clear idea of how much home you can afford and puts you in a better position to negotiate with sellers.
Homebuying Secret #2: Do Your Research
When you’re buying a home, it’s important to do your research. Not only should you be aware of the different types of homes available, but you should also familiarize yourself with the process of buying a home and what to expect.
Related: 5 things to watch for if you’re buying a home “as-is”
Homebuying Secret #3: Shop Within Your Budget
One of the most important things to remember when buying a home is to stay within your budget. You should look at listings within your price range (or below). In fact, some real estate agents suggest looking at homes that are between $10,000 and $20,000 lower than your maximum budget; that way, you have wiggle room when it comes to negotiations
Homebuying Secret #4: Be Flexible
Another important tip for buying a home is to be flexible. This means considering different types of homes, locations, and even features. For example, you may not be able to find your dream home with everything on your wish list, but you may be able to find a home that has most of what you’re looking for.
Homebuying Secret #5: Make an Offer That’s Fair to Both You and the Seller
When you’ve found a home you’re interested in, it’s time to make an offer. But before you do, it’s important to remember that the offer should be fair to both you and the seller. To do this, you’ll need to take into account the home’s list price, its market value, and your own budget.
Related: How to make your home offer stand out
Homebuying Secret #6: Have Your Home Inspected (Including Specialty Inspections) Before You Buy It
Before you buy a home, it’s important to have it inspected by a professional. This way, you can be aware of any potential problems that may need to be fixed. Additionally, you should consider having specialty inspections (such as for mold or radon) if you’re buying an older home.
Homebuying Secret #7: Don’t Be Afraid to Hold the Seller Accountable for Things That Aren’t Done by Closing Day
The final homebuying secret is to not be afraid to hold the seller accountable for things that aren’t done by closing day. This includes things like making sure the home is in the condition that was agreed upon, that repairs have been made, and that any outstanding issues have been taken care of. If the seller doesn’t do these things, you can ask for a credit at closing or have the seller pay for the repairs.
Most importantly, rely on your real estate agent to help you through the process. If you’re working with a skilled agent, you don’t have to worry about making big mistakes that other buyers make – your agent will steer you clear of pitfalls along the way.
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