We know buying a new home is an exciting time that can also feel a little daunting. Particularly when it comes to getting the best deal. We’ve culled together four of our best-kept secrets for buying a home in hopes they alleviate stress, and help point you in the right direction.
Know Your Budget
When you don’t know how much you’re pre-approved for on a loan, the guesswork of which price ranges to look into can be overwhelming. We believe it is important to obtain pre-approval first thing. This way, you know which range of homes to focus on, and are less likely to waste time looking outside of your budget.
Inspect The Property
This may seem like common sense to some, but not every first time buyer knows to hire an inspector to examine their potential new home. Just as you should repair any damages in your home before listing to sell it, you want to be sure the house you are buying isn’t harboring hidden costs. Another perk of hiring an inspector: if they discover necessary improvements are needed, this information can be used as a bargaining tool on the negation table.
It may seem like a good idea to come in low on a bid, but in reality you will most likely offend the seller. Offended sellers may decline your business, and you could lose out on a great home. Instead, offer a reasonable and fair bid. Cross-compare your number with the comps in the neighborhood with what you can realistically afford.
Know The Neighborhood
It’s important to understand not only the comps in the neighborhood you’re considering, but also the lay of the land. What are the local schools, how are the restaurants and shops, is your commute realistic? Be sure to answer all the possible day-to-day considerations you need to weigh in on in order to make an informed decision.
Finally, don’t be afraid to ask for help! A realtor is an educated guide who will be able to steer you in the right direction, and help uncover any answer you seek.
If you are in the market for a great Nashville home, we’d love to help, and share more best-kept secrets for home buying. Give us a call or drop us a line today.