Are you thinking about buying a new home, but you're worried about getting a good deal in today's market? I'm here to give you some buyer's hacks to make sure you find your dream home and feel good about the price and process!
Buyer's Secret #5 - Get Pre-approved
You've heard it before I'm sure, but getting pre-approved before shopping for your new home alleviates so much stress! Instead of worrying about putting in an offer that's too low, or higher than you can afford, you can out in an offer with confidence! I highly recommend speaking to Benchmark Mortgage in Woodland Park.
Buyer's Secret #4 - Don't Obsess Over the Current Market
It's no secret that the real estate market is constantly going up and down, then up again. Obsessing over "timing the market" and figuring out when the best time to buy is extremely difficult, and chances are, you may miss out on your perfect home. Just see what's out there and what you can afford. Concentrate on what you want and not what the market is doing.
Buyer's Secret #3 - Bigger is Not Always Better
When it comes to re-sell value, size is not the only factor in determining price. A large house on a smaller lot, or that needs remodeling, or in an undesirable location, will not always yield a higher return on investment. Instead, think about what is important to you, chances are, those things are going to be important to your future buyer as well.
Buyer's Secret #2 - The Secret Sauce for Bidding
There are only 2 numbers you should be concerned with when placing a bid on a home.
How much you can afford
How much that home is worth.
Knowing how much you can afford is so important so you do not make the wrong offer. This is why it's important to get pre-approved. Your realtor can help determine how much that home is actually worth. You want to put in a strong offer, while getting a great deal, and not offending the seller. This is why it's important to work with a real estate agent who know what that magic number should be and can increase your chances of getting your offer accepted.
Bonus Tip: Don't put in a "round number" offer. By putting in a very specific numbered offer, you will stand out from the competition and it shows the seller you've given the offered price more thought.
Buyer's Secret #1 - You're Shopping for a House, Not Marrying it
It's so important to keep your emotions in check, even if you fall in love with a house. There is a chance you might not get it and you do not want to make a bad financial decision based on emotions. Chances are, there is a house out there you will love even more for the right price, and you will feel SO much better about your decision knowing you paid the right price for it.
If you're thinking about buying, I can help you navigate today's market and feel great about your purchase! Call me at (719) 640-043 or contact me.