Taking the Trauma out of Homebuying

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Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both skilled and a good fit with your personality.

Remember, there’s no “right” time to buy

There’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and good homes priced right don’t stay on the market long in any market conditions.

Don’t ask for too many opinions

It’s natural to want reassurance for such a big decision, but too many ideas will make it harder to make a decision, a decision which is ultimately yours.

Accept that no house is ever perfect

Focus on the things that are important to you and let the minor ones go.

Don’t try to be a killer negotiator

Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.

Think about resale before your buy

Remember that your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself - room size, kitchen, etc - that you forget such issues as amenities, noise level, etc, that have a big impact on what it’s like to live in your new home and may impact your ability to resell. The average first-time buyer only stays in a home for four years.

Be prepared

Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Sellers may not even look at an offer contingent on a lot of unresolved issues.

Factor in maintenance and repair costs

Even with an inspection and some seller repairs or a new home, there will be some costs. Be sure to factor maintenance and repair costs into your post-homebuying budget. Don’t leave yourself short and let your home deteriorate.

A little buyer’s remorse is inevitable

Accept the fact that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.

Choose a home because you love it

Choose a home first because you love it; then think about appreciation. While US homes have appreciated in value nicely, a home’s most important role is as a comfortable, safe place to live.

Most information taken from REALTOR Magazine Online by the NATIONAL ASSOCIATION OF REALTORS