home buyer step 2: Shop Smart
*If you skipped Step 1 for Home Buyers and don't have enough cash on hand to buy a home, get pre-qualified or pre-approved for mortgage financing.
Once you’ve got your housing budget determined and financing pre-approved, it’s important to shop smart because attractive properties can go off the market before you’ve even seen them!
Following are some tips to help you find the perfect home for your budget:
Leverage Technology
It's important to learn about new listings as quickly as possible. Modern technology allows you to be notified immediately, 24/7, from any internet-enabled device, and listings can come to you... you don't even need to manually search or speak to a Realtor first in order to take advantage of this opportunity.
Start by viewing MLS listings and saving searches on a quality real estate search tool. A saved search will update you automatically (for example by email), so you don't have to search manually.
You can do better than a Zillow search. A good site--like the one at www.RocheRealty.com--will allow you to target very specific areas—like streets or certain communities—will accurately list only currently-available properties, and will offer you the option of automated email updates.
Choose a Realtor
Next, meet with licensed real estate professionals and establish “buyer representation” with one with whom you are comfortable.
This will commit the REALTOR® to the fiduciary responsibilities of confidentiality, loyalty, full disclosure of any knowledge that might benefit you, lawful obedience, and protecting and promoting your interests as a buyer, first and foremost.
Your real estate professional will bring professional power to the search and help you find homes you may not have been able to find on your own. Sometimes they know of properties before they’re even listed!
Further, they can help you obtain valuable information on the home’s location and site, provide advice on market conditions, current prices and issues that may impact later resale values, and they can help you negotiate the best price when you do place an offer.
Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your agent, if he or she has time, might preview homes before showing them to you as well.
And it shouldn’t cost you anything to avail yourself of their services as a buyer--a real estate agent’s commission is usually paid by the seller.
If you're looking for an excellent agent to represent your buying needs, you can find one here: https://rocherealty.com/brent-metzger/
Choosing a Real Estate Professional Pro Tips:
Get out and start shopping
Once you've got quality home search technology working for you and an agent, it's time to get out into the real world and see homes.
You may be scheduled to see multiple homes in one day, so it's important to be prepared and organized as homes and their respective features can blur together, so be prepared to take pictures and take notes:
Once you've found a home you'd like to make an offer on, it's time for Step 3-- Take Action-- starting with submitting an offer.
Once you’ve got your housing budget determined and financing pre-approved, it’s important to shop smart because attractive properties can go off the market before you’ve even seen them!
Following are some tips to help you find the perfect home for your budget:
Leverage Technology
It's important to learn about new listings as quickly as possible. Modern technology allows you to be notified immediately, 24/7, from any internet-enabled device, and listings can come to you... you don't even need to manually search or speak to a Realtor first in order to take advantage of this opportunity.
Start by viewing MLS listings and saving searches on a quality real estate search tool. A saved search will update you automatically (for example by email), so you don't have to search manually.
You can do better than a Zillow search. A good site--like the one at www.RocheRealty.com--will allow you to target very specific areas—like streets or certain communities—will accurately list only currently-available properties, and will offer you the option of automated email updates.
- Search by property characteristics (e.g. price range, how many beds/baths, etc.): https://rocherealty.com/advancedsearch/#v_gallery
- Perform and save a map-based search here: https://rocherealty.com/advancedsearch/
Choose a Realtor
Next, meet with licensed real estate professionals and establish “buyer representation” with one with whom you are comfortable.
This will commit the REALTOR® to the fiduciary responsibilities of confidentiality, loyalty, full disclosure of any knowledge that might benefit you, lawful obedience, and protecting and promoting your interests as a buyer, first and foremost.
Your real estate professional will bring professional power to the search and help you find homes you may not have been able to find on your own. Sometimes they know of properties before they’re even listed!
Further, they can help you obtain valuable information on the home’s location and site, provide advice on market conditions, current prices and issues that may impact later resale values, and they can help you negotiate the best price when you do place an offer.
Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your agent, if he or she has time, might preview homes before showing them to you as well.
And it shouldn’t cost you anything to avail yourself of their services as a buyer--a real estate agent’s commission is usually paid by the seller.
If you're looking for an excellent agent to represent your buying needs, you can find one here: https://rocherealty.com/brent-metzger/
Choosing a Real Estate Professional Pro Tips:
- If you're moving to the Lakes Region from elsewhere (even inside the state of New Hampshire), prioritize a Realtor who lives, offices and works close to where you want to live, not where you currently do. While real estate licenses are valid statewide, it's important for your representative to know the local market in which you plan to buy.
- Favor a Realtor who works full time, not part time. Time is of the essence in real estate deals, especially when you're a buyer in a seller's market... there's no time to waste while waiting for someone to get home from their "real job."
- You can do better than Zillow, part II: If you've been on Zillow, you've seen "Premier" agents. Merriam-Webster defines "Premier" as "first in position, rank, or importance," but when it comes to Zillow, "Premier" simply means: "Agents who advertise with Zillow Group are called Premier Agents..." Don't be swayed by a meaningless, paid-for designation... meet with a few agents and decide for yourself if a Realtor is first in rank for your needs, whether they do or do not pay Zillow for the "premier" title.
Get out and start shopping
Once you've got quality home search technology working for you and an agent, it's time to get out into the real world and see homes.
You may be scheduled to see multiple homes in one day, so it's important to be prepared and organized as homes and their respective features can blur together, so be prepared to take pictures and take notes:
- Bring a digital camera or use your smart phone to take pictures
- Begin each series of home photos with a close-up of the house's address number (this will help you keep them separate)
- Take notes (organized by address) of good and bad features for each home
- In your notes be sure to include details on the home's location and surroundings (e.g. is there a haunted-looking house next store?)
- Upon completing each showing immediately after rank each home on a 1 to 10 scale
- Research area schools (even if you don’t have school age children, as this can affect resale value later)
- Look into local crime statistics
- Map out the distance to your work, family, or anything else important
Once you've found a home you'd like to make an offer on, it's time for Step 3-- Take Action-- starting with submitting an offer.
