Today, I have three tips for home buyers to succeed in any market at any time.
When you buy a home, it is very important to begin with the end in mind. You need to start out thinking about your monthly budget and the total amount of cash you will have to pay out of pocket to purchase the home.
First of all, be realistic about what you can afford. You don’t want your monthly mortgage payment to be a burden and wind up "house poor". You should still be able to save money and do the things you want to do on a day-to-day or week-to-week basis. You should also talk to your Realtor about what you can expect to pay for the down payment and closing costs.
Next, decide if you want to buy a move-in ready home or a fixer upper. There is no bad option; it totally depends on your needs and your situation. Fixer-uppers give you the opportunity to purchase a home that may not be as cosmetically pleasing as other homes on the market at a lower price and put your own twist on it. Move-in ready homes allow you to just show up with your stuff to live life and enjoy the house.
Move-in ready homes and fixer-uppers are both great options.
Finally, consider how to present your offer. You want the seller to be receptive to your offer so you don’t lose out on the house. We recommend writing a letter to the seller explaining who you are and why you are purchasing the home. Sellers often can't tell the difference from one buyer to the next, so setting yourself apart with a letter is a great strategy.
If you are in a competitive market, you can also appeal to the seller from a financial standpoint. An extra thousand dollars on the purchase price ultimately boils down to four extra dollars a month. As your real estate agent, I can coach and guide you so that you get the desired outcome.
If you have any real estate questions, please don’t hesitate to reach out to me. I would be happy to help you!
