Navigating the Real Estate Purchase

10 Things to Take the Trauma Out of Homebuying

1. Find a real estate agent that’s simpatico. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there is a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Asking for others opinions is natural especially when making such a big decision, but too many ideas will make it much harder to make a decision.  Be aware of who is in a knowledgeable position to help you.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you, and let the minor ones go, especially if they are things that are easy to change later.

5. Negotiation is definitely a part of the real estate process, but trying to “win” by being a “killer negotiator” to get an extra-low price may lose you the home you love.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, location, etc., that have a big impact on what it’s like to live in your new home and its future resale value.

7. Get approved for a mortgage, investigate insurance availability, and consider a schedule for moving before making an offer on a home. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass.  Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.
Talk with your agent about all of your concerns before writing an offer so that if some need to be addressed in the offer, they are included there.

10. Choose a home first because you love it; consider how it meets the needs of each person who will live in it, and then think about appreciation. A home’s most important role is as a comfortable, safe place to live.  And, if it’s not the dream home you always wanted, put that in perspective.  It may be the stepping stone to help you get there with your next purchase.