While searching and purchasing a home can be very exciting, it can
also be very time consuming and confusing and Village Financial Group
wants to make it easy for you.
Whether you are a first time buyer, you are relocating or you are
looking fora investment property, buying a home is a huge decision that
requires extensive research. Village Financial Group's real estate
experts are knowledgeable of the Sacramento area real estate market and
can assist you in finding and purchasing your dream home.
Before you start house hunting, review the buying tips below to be sure you obtain the right home at the right price.
A home is a large expense. To avoid excessive debt, make sure you aren't making any other big purchases during this time.
In order to facilitate the approval of your loan, keep your money
stationary in your accounts and minimize the amount of transfers you are
making around this time.
Have realistic expectations of pricing and the features your house
includes. Some features can't be changed, unless you want to pay for
costly major reconstruction.
Before investing in a new property, it is important to determine
which housing type (single family, townhouse, condominium) will be the
most suitable for your long-term and short-term goals.
Your ability to buy a new home depends on your ability to borrow. Be
sure you get pre-approved for your loan before you start searching for a
new home. Getting pre-approved before you house hunt will help you
determine your price range so you don't waste any unnecessary time
looking at homes that exceed your budget.
Needs Versus Wants
Differentiate your needs in a home from your wants. Every buyer has
an ideal house in mind that includes specific features, layouts and
styles. The reality of house shopping is that no house is going to
contain all of your wants and needs, unless you design it yourself.
Start your house search by listing the features you deem essential in
your new home and then create another list for the features that aren't a
necessity, but would be an added incentive. Creating a needs vs. wants
list will get you into your new home quicker and save you and your
chosen realtor time in the search process.
Selecting A Realtor
You will be working closely with your chosen realtor, so be sure to
select a realtor you consider to be trustworthy and attentive to the
needs of your family during this time. If you are choosing to work with a
new agent then it is recommended that you verify the agents standing
with your state's governing agency to make sure they have an active
license and are in good standing.
Research Surrounding Areas
Before you make an offer, be sure to research the neighborhood and
local surroundings. If you have children, research the local schools,
sports programs, clubs and check to see if your children will have
playmates in the neighborhood. Take into consideration the distance you
will be from local freeways, grocery stores, entertainment, restaurants
and what the traffic is like. By educating yourself with these details
you will get a more realistic expectation of what life in your new
neighborhood will be like. Your realtor should be able get you any
information regarding the local area that will help you make a wise
decision and make sure it includes all of the things that are important
to you and your family.
Making a Decision
Everyone wants to purchase the right home for his or her situation.
Regardless if you are single or married, usually more than one person is
involved in, or influencing, the decision making process. Before you
set appointments to see a house, make sure everyone involved in the
decision, or whose opinions matter to you most, are going to be
available for the showings. Home viewing appointments and showings are a
waste of time for you and your broker when all key decision makers are
The real estate industry and industry terminology are foreign to the
vast majority of people. Unless you have worked in the industry, or
know someone who has, the whole process can be confusing and
overwhelming. To assist you in the purchase of your new home, we
recommend becoming more informed in the industry and with the
terminology you will hear relating to the purchase of your home. Below
is a link to help you learn real estate lingo:
List of Real Estate Terms
Placing Your Bid
At this stage in the buying process it is difficult to separate
yourself and your emotions from any one piece of property. If you are
willing to place a bid on a residence then it is apparent that your
interest in the property is high. In order to increase your chances of
getting a particular house shorten the time frame of your bid. By doing
this you will minimize the amount of time the seller has to shop your
bid against other offers.
Have an Open Mind
Have an open mind when going through the showing process and
consider all the possibilities a certain home may encompass. Not every
home is going to be decorated as you see fit, just remember that some
things are easier to change than others. When viewing a home try to
visualize it with your furniture and according to your taste. It is easy
to paint walls, change carpeting and re-landscape. However, adding a
bathroom, expanding a room, or knocking out walls may get costly.
Professional Home Inspection
Arrange for a professional home inspection before the closing to
eliminate any unpleasant surprises and to make sure the home is exactly
what you expect to be getting. This inspection should include a detailed
visual examination of the interior and exterior of the property. It
includes the heating, electrical systems, plumbing, air systems, windows
and doors, condition of the roof and basement. This inspection is
particularly important because it will help you identify any defective
areas of the house that you may have previously overlooked. Neglecting
this inspection may cause you thousands of dollars in unexpected repairs
in the near future.