Realtor®, Associate Broker, GRI, MBA
This Year’s Winner of the Windermere Cup for Outstanding Performance
Windermere Real Estate/SV, LLC
(208) 309-1329
AnnaMathieu@Windermere.com
5b-realestate.com
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In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared.
In a realtor.com article titled, “How to Find Your Dream Home—Without Losing Your Mind” (www.tinyurl.com/tws-dreamhome), the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search (www.tinyurl.com/tws-pre). Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
This step will also help you narrow your search based on your budget and won’t leave you disappointed if the home you tour, and love, ends up being outside your budget!
2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’
Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car garage be a convenience or a necessity? Could the ‘man cave’ of your dreams be a future renovation project instead of a make-or-break right now?
Before you start your search, list all the features of a home you would like and then qualify them as ‘must-haves,’ ‘should-haves,’ or ‘absolute-wish list’ items. This will help keep you focused on what’s most important (www.tinyurl.com/tws-wantneed).
3. Research and Choose a Neighborhood You Want to Live In
Every neighborhood has its own charm. Before you commit to a home based solely on the house itself, the article suggests test-driving the area. Make sure that the area meets your needs for “amenities, commute, access to your favorite place, etc., and then spend a weekend exploring before you commit.”
4. Document Your Home Visits
Once you start touring homes, the features of each individual home will start to blur together. The article suggests taking notes and keeping your camera handy to document what you love and don’t love about each property you visit.
Making notes on the listing sheet as you tour the property will also help you remember what the photos mean, or what you were feeling while touring the home.
5. Choose ONE Agent to Represent You
Calling off each sign will not save you money; in fact, it could cost you money. The listing agent represents the seller and the seller’s interest. While an agent should be able to balance both your interests, unless you have a signed Buyer Agency Agreement with an agent to represent you, you cannot assume that agent is focused on your best interests. Committing to one agent means that that agent should commit to you, too. Especially in a competitive market with many pitfalls, you want someone with insider knowledge and expertise who is working full-time on finding you the best home, and helping and watching out for you every step of the way.
Bottom Line
In a high-paced, competitive environment, any advantage you can give yourself will help you on your path to buying your dream home.