What to Look For in Real Estate

When looking for your dream home, it is easy to get caught up in the hype. First time homeowners want to have the perfect place, live in the perfect neighborhood, and live near the perfect amenities. While this all sounds well and good, what the odds of having perfection the first time around? This is especially true for those who are not sure how to navigate the real estate lowell ma, those who are on a tight budget, and those who have a specific list of what they are looking for in a perfect home.

Get in Touch With a Realtor:

The first step in the homeownership is getting in touch with a reputable realtor. They will not only help you navigate through the confusing real estate market, but they will also help you fill out all the paperwork involved throughout the process. Do you know how to submit an offer? The chances are, you do not. Do you know what to look for in a home? Do you know what to avoid in a home? Your real estate agents knows what questions to ask, what homes to avoid, and what offers to make to help keep you on track.

Get a Pre-Approval:

You can't find a new home if you do not know how much house can afford. There is not sense looking at houses if you can't afford them and the preapproval gives a dollar amount to go by. This dollar amount is obtained by your bank or the mortgage company you intend to get your loan from. Your realtor will help guide you through the numbers, too, in terms of down-payments and closing costs, too. You will find out immediately that there is a lot of math involved with the purchase of a new home. The process is overwhelming, but that does not mean it is impossible. Get your tax records together, and whatever else is required by your lender and you will be on your way!

Develop a Checklist:

Brainstorm a list of what you would love your home to contain. Would you love a walk-in closet and a bathroom in the master bedroom? Do you need three bedrooms and two bathrooms? Do you need an eat-in kitchen and a separate dining room? Do you need a garage and additional parking? This brainstorming should consist of things you cannot live without, as well as some dream items. Things you cannot live without would include items like a garbage disposal or a second bathroom. Dream items could include a pool in the backyard or a full basement.

Final Thoughts:

Keep in mind that, even when the real estate market is not active, homes are still moving. Therefore, when you make an offer on a property, that does not mean you will not be in competition with other potential buyers. It is up to the seller who they ultimately want to pick. This is where your realtor becomes an invaluable asset. Their powers of negotiation will work to your advantage when the submit your offer, negotiate the offer, and hopefully win the acceptance.