Who Wants to Save Thousand on their Next Home?

The largest investment you’ll ever make will likely be your new home. Because it is such a large transaction, you must carefully do your homework. This will probably save you thousands of dollars and no telling how much time. When you buy your dream home, you want to make sure you purchase a home that will meet your needs. You also want to make sure you get the best return on your investment, i.e., you get the most home for your money. Here are four things you can do to save money on your next home purchase:

Write Down the Specific Features You Want in Your New Home

Putting your ideas in writing will help you solidify your goals and objectives for buying a new home. You should brainstorm with your spouse or a close friend. In doing this, you should write down as many ideas as possible on what you want in your dream home. Don’t worry about evaluating or making a judgment on anything… just write.

After you’ve written everything down, review the list. Place a one by the most important item. Put a two by the next most important item. Continue this process until you have identified the ten to fifteen most important features you want in a new home.

Although you may not mark everything, don’t loose your written list. This prioritization of important features can help you keep focused on a home that meets your needs. Share this list with your real estate agent. Too often, people fall in love with a home that does not offer their priority features. Then, in the long run, they become unhappy with their purchase. This is a very expensive lesson you want to avoid. Ask you agent to help you keep focuses on those items that are most important. A good agent can really help you, because he/she will identify properties that meet those specific criteria.

Ask Your Realtor to Help You Get Pre-Approved for a Loan

Your real estate agent should know a lender that is competent and competitive. You should always get pre-approved before you begin looking for a home. You will know exactly how much you can spend on your home. You will know the length of the contract and interest rate. Now, focus on those homes in your price range that have the features you most want.

This will put you in a much stronger position as a buyer. When you make an offer to purchase a home, the seller will know that you are ready and able to purchase their home. If you’re competing with other buyers who are not pre-qualified, you will get priority consideration. The bottom line is this… don’t start looking for a home until you are pre-qualified.

Choose a Full-Time Professional Real Estate Agent

There are many realtors. They will be glad to help you locate your next home. However, there are a few things you need to be aware of that will make your real estate experience a truly positive experience.

First, your agent will be able to identify specific homes that meet your criteria. When was the last time a real estate agent took you to a home that you had no interest in buying? Was it because he/she had the home listed? Competent agents will locate homes in the areas you want to live with the features you are looking for in a home.

A professional agent will be able to give you a CMA (Competitive Market Analysis) on any home you are seriously considering. A CMA shows homes of like value and features that have sold recently in the neighborhood. It will include the features of the homes and the sale price. This can be used to analyze the asking price of the home.

Your agent should have access to current technology and know how to use it. In a competitive market, this can be the difference between success and failure. For example, an agent can often locate homes that have just come on the market or are just getting ready to come onto the market. If you have a pre-qualification loan and you’ve written down the features that are most important to you in your next home, your agent can quickly and easily identify these before other agents even know what is going on.

Don’t be afraid to ask your agent a lot of questions. This is how you will find the right agent for you. Ask about homes that have recently sold in the area. Ask about the price range of homes currently on the market. Does the agent know a good lender or home inspector? What type of technology is the agent currently using? If you need to sell your home first, can the agent get you Top Dollar on your home as quickly as possible so you can concentrate of finding your dream home?

A little planning and effort on your part can make your real estate experience very positive. It can maximize your investment and bring you happiness for years to come. You can save thousands on your next home purchase, guaranteed!