SHOPPING FOR A NEW HOME IS AN EMOTIONAL EXPERIENCE.
It is, however, also a business transaction, and must be treated as such. Three of the most devastating things that can go wrong are: Paying too much, Losing a dream home to another buyer , Buying the wrong home . When you have a systematic plan before you shop, you?ll be sure to avoid these costly errors. ?Ask us about our Home Buyer Packet which outlines the details of the buying process. Here are some tips on making the most of your home purchase:
Get the information you need
What price do you offer a seller? Is the seller?s asking price too high? Is it a deal? Your own research is important, as is the assistance of a Realtor?. A professional Realtor? can offer an unbiased opinion on the value of a home, based on many factors and a great deal of information. Without knowledge of The Dalles, Hood River, White Salmon or general Gorge real estate market, you could miss out on a great buying opportunity. When you hire Becky & Nan you can trust that?the team at Columbia Gorge Real Estate will?represent your interests.
Buy YOUR home in The Gorge
What do you need and want in a home? Sounds simple? clearly identifying your needs and bringing an objective view to home shopping leaves you in a much better position. How much space do you really need? Too small and you may feel like you live in constant clutter. Too big and maintenance may become too daunting. Outline all of your priorities, and work on finding not just a great home, but a great home for you. Our limited inventory of homes in The Columbia Gorge area can be a challenge but Becky & Nan will help you find your perfect spot.
Update the survey
Before the purchase is completed, an updated survey may be essential. This will indicate boundaries and structural changes (additions to the house, a new swimming pool, new fences etc.), and will guarantee that you are indeed know where your property lines are. Many properties in town are fenced and neighbors may be relying on those fences as bring the property boundary though that may not be the case, it is your choice as the buyer to ask the seller to survey the property or hire a surveyor for yourself if knowing the exact location of your property lines.
Minimize the unexpected
For $300 ? $500, a professional inspector will conduct a thorough inspection of the home. Their expertise in The Dalles area can mean the difference between uncovering major flaws before or after you own a home. When Nan & Becky draft your?sales agreement we will make it subject to the inspection report?s findings & your review.
It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer and you will REALLY know what your payments will be on your new home. This is the NUMBER 1 thing you can get done before you start searching for a new home, the sadest moment is when you fall in love with a home on the market only to find out you don’t really qualify for a loan of that amount or type. We can provide you with a list of local lenders with proven success in getting the ?home loan closed.
Take a deep breath,?Buying a home is a serious commitment, and there are many factors to consider:
How long the home will meet your needs?
What features do you require in a home to satisfy your lifestyle now? Five years from now? People tend to remain in homes longer than they initially intend, primarily due to the work and expense associated with moving. Therefore it is worth considering a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you?ll need will help you find a home that will satisfy you for years to come. Share your future plans with ?your Columbia Gorge Real Estate Team, if resale is the most important Nan Wimmers & Becky ?Schertenlieb can help guide you to the home that will help make that a success.
Your financial health ? your credit and home affordability.
Is now the right time financially for you to buy a home? While you can always find a lender to lend you money, people with poor credit tend to pay far more to borrow.?Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. It is, however, important to stay within your comfort zone. Purchasing a house involves many up-front and ongoing costs, and the stress of worrying about those costs often outweighs the satisfaction that may come from owning a slightly nicer home.?To determine how much home you can afford, talk to a lender or go online and use a home affordability calculator. Good calculators will give you a range of what you may qualify for. Then call a lender to talk about the type of loan that’s best for you.
Where the money for the transaction will come from.
Typically, homebuyers will need some money for a down payment and closing costs. However, with today?s broad range of loan options, having a lot of money saved for a down payment is not always necessary .
The ongoing costs of home ownership.
Maintenance, improvements, taxes, and insurance are all costs that are added to a monthly house payment. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your Realtor? and your lender aware of your desire to limit these costs.