Justin Raber Attorney at Law

304-699-1551

Experience You Can Trust

3 tips for buying the home you love

You've saved up a down payment, and you have the pre-approval from the bank in hand. You're ready to buy the home of your dreams, but where should you begin?

Real-estate transactions are relatively straightforward, but there are several tips that can help you on your path to purchasing your new home. Here are three to consider.

1. Buy early to have more options

At the beginning of 2017, it was estimated that over half of all home sales would go to first-time buyers. This means that competition could be on the rise, and as these individuals purchase homes, the inventory of homes drops significantly. If you're interested in buying a home, try to avoid the rush. You may not have as many options, but fewer homes sell in the winter months when inventories are lower. That means sellers are more likely to make a deal, and you can get the home you want with less competition.

2. Don't celebrate too early

It's wise to hold off on celebrating a purchase until you have a signed contract in hand. Sometimes, your bid is just enough to entice another buyer to offer more, and that means you end up missing out. Keep a strong selection of homes that you're interested in ready, so you can place a bid on something else if your first choice doesn't work out. If you're willing to pay up to a certain price for the home you're after, tell the seller you're willing to outbid each bid by a certain amount until you hit that price.

3, Know the market

Every area is different, but when a market is a seller's market, you can expect to pay more for a property. It means there are fewer properties for sale, increasing the value of those on the market to buyers. If the inventory of homes in an area is excessive, then the market is a buyer's market, making it easier to get a home at a lower price. Why can you get a home for less in a buyer's market? You have so many more choices that sellers can't afford to be as strict on their pricing.

When you're finally ready to put your pen to paper and buy your home, your attorney can help you make sure the contract is fair and that the title is clear. With support, this can be a good financial decision for your future.

Source: Nov. 30, -0001

No Comments

Leave a comment
Comment Information
Email Us For a Response

We Can Help

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy