Purchasing a home is widely considered a landmark event, one that shows monetary success unlike any other. So, if you’ve finally received pre-approval for a mortgage loan, or you’ve been money savvy enough to save up all the cash, you might be wondering what’s next.
House-hunting might be exciting, although it can also be a frustrating and fairly disappointing venture, even more so if you aren’t too sure what you’re looking for.
We’ve listed some of the most valuable house-hunting tips to ease the process of finding your dream house.
Create A Budget
Even though you know your pre-approval amount, you should still refine your budget a bit more.
It’s exceptionally wise to consider all the costs of owning a home, like property insurance, ongoing home maintenance costs, utility bills, and even transfer fees. Adding in these costs will likely leave you with a different affordability amount than you might initially have received when budgeting for the mortgage loan.
Now that you have more of an accurate affordability budget, you can narrow down your search to only include properties you can genuinely afford.
Use Real Estate Platforms
In the digital era, there’s no better way to browse home listings than with real estate platforms. Even if you hire a realtor, it’s wise to browse Colorado real estate platforms to find listings that compliment your budget.
Opt For Virtual Tours
Instead of lining up property viewings until you find yourself with no extra time on your hands, consider opting for virtual tours to narrow down properties you actually want to view in real life. This small decision can shave off a lot of house-hunting time.
Find Direction With Property Specifics
All homes are definitely not the same, and you’ll find yourself on an endless search if you aren’t too sure what you’re looking for. Instead of hoping your dream home will pop up when browsing, it’s wise to write down all the specifics you are after.
Consider floor space, number of bedrooms, number of bathrooms, property type, yard space, potential renovation needs, proximity to amenities, and any other detail that might be a deal-breaker.
Don’t Be Shy To Negotiate
As a first-time buyer, you might be unaware that the listed selling price can be negotiated. If you’re savvy enough with negotiating skills, you can get save a small fortune.
Look out for maintenance needs, determine transfer costs, and find any logical reason why the property price might be selling for a bit too much.
Have The Home Evaluated By A Professional
Once you have finally found the ideal property, you can negotiate the price even lower after having a professional evaluate the home’s actual value.
Even if the seller insists that the home has been professionally evaluated, it’s best to be extra careful. A professional can also find underlying faults in a property that are difficult to identify otherwise.
Nevertheless, if you’ve been house-hunting endlessly without finding anything that catches your eye, it’s wise to consider relying on a realtor.