Home and Property

8 Tips for Smooth Home Buying

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8 Tips for Smooth Home Buying

Buying a home involves a lot of moving parts. Here are eight tips to help you through the viewings, negotiations and everything in-between.

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First-timers, take notice. These eight simple suggestions will help you breeze through the buying process.

1. Understand what you can afford.

It's exciting to fixate on that gourmet kitchen, but first thing's first: review your credit report and talk to a lender about getting preapproved for a mortgage.

2. Find an agent that fits your personality.

It’s a big commitment and an emotional ride. You’ll want to pick a pro that’s not only skilled but simpatico with you.

3. Be picky but realistic.

No house is perfect. Focus on the things that are most important to you, and let the minor ones go. Try to visualize yourself in the home for the long haul.

4. Factor in all your costs.

Your mortgage payment is only the beginning. You also need to factor in closing costs, property tax, and Home Owners Association (HOA) and homeowner's insurance. Not to mention basic upkeep.

5. Leave emotions at the door.

Don't get discouraged if you lose out on the first or second house, or if the seller won't come down in price.

6. Practice your poker face.

Don't show the seller's agent all your cards if you've fallen in love with a house. Hang back and prepare to negotiate.

7. Get an inspection.

It's tempting to forgo the fee associated with getting a home inspected for material defects, but doing so can save you thousands of dollars in repairs down the road.

8. Think long-term.

Is this your starter or forever home? Asking these questions can dictate the type of property you purchase, as well as the mortgage terms that suit you best.

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