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|A Word of Advice
The real estate market is constantly changing and it is important as a buyer, or seller, to know where it currently stands and where it is headed. Knowing the market is a significant part of making the right choice when choosing to buy or sell real estate. Before starting your search, there are a couple things you should determine.
1. Am I ready to buy a home?
Pride of ownership and knowing that you have made a sound investment are some of life's great pleasures. However, they don't comewithout costs. A home comes with many financial responsibilities and it's upkeep is going to require a significant amount of time.
The second step you should take is to determine your current financial situation. While you might think you can or cannot afford to buy a home, your bank may open your eye's to some variables or scenarios you may not have fully considered. This will be the biggest financial obligation you've ever faced and you want to make sure that you are adaquately prepared. Contact a mortgage specialist who will assist you in determining your price point. They can also provide you with a very important pre-approval, which will lock you in to an interest rate, protecting you from the possibility of rate increases. This can also prove extremely useful in an offer situation where your financial preparation can be leveraged by your Realtor to help improve your position in a negotiation. This is a critical step, especially when buying your first home. Never underestimate the value of a pre-approval, now you can shop with confidence!
|3. Is now the time to buy?
Markets are constantly fluctuating. While some of these changes can be accurately predicted, there is always an element of uncertainty. If you're buying a home as a long-term investment, these small fluctuations might be of somewhat less importance to you. In any situation, it is still your money, and you want to hold on to as much of it as possible. Having an honest realtor who knows the market in which you are buying can help save you thousands of dollars.
A high-rise condo? A 3 story townhouse? Full detached or semi? Think about what better suits your family's needs. Do you want to have a shorter commute? Be near friends? Close to entertainment and restaurants? You have to determine your priorities and decide which type of home you want to look for. Having only a vague idea is going to provide you with nothing but doubts during your search. Knowing what you want will go a long way towards saving yourself time and preventing frustration.
So, why work with Kyle and Jay when buying a home?
Fill out this form if you'd like Kyle and Jay to help you with the buying process at no cost to you! Or download our BUYER CRITERIA FORM for an even more detailed approach!