Christine Metros Natale's Blog
Buying a home can be fast and easy for just about anyone. However, becoming the "perfect" property buyer can be challenging, particularly for those who are shopping for a house for the first time.
The perfect homebuyer understands what it takes to land his or her ideal house at the best price. As such, he or she will know how to handle difficult homebuying situations and streamline the process of going from property buyer to property owner.
Ultimately, becoming the perfect homebuyer may be easier than you think – here are three tips to help you acquire your ideal residence quickly and effortlessly.
1. Study the Real Estate Market Closely
The real estate market has many ups and downs, but the perfect homebuyer will know the ins and outs of the housing sector. By studying the real estate market closely, this property buyer will be able to identify the right opportunities and overcome any potential homebuying hurdles.
Spend some time looking at the prices of homes that are currently available. This will allow you to find homes at price that you like – and homes at prices that you don't like – and map out your homebuying journey accordingly.
Also, take a look at homes that recently sold in cities or towns where you'd like to live. This will enable you to differentiate between a buyer's market and a seller's market.
2. Know What You Can Spend on a Home
The perfect homebuyer should have no trouble avoiding the temptation to overspend on a house. In fact, this homebuyer will understand how to get pre-approved for a mortgage, which will ensure that he or she can establish a property buying budget.
To get pre-approved for a mortgage, a homebuyer should meet with several banks and credit unions. Each meeting will enable a homebuyer to learn about the mortgage options that are available from a variety of lenders. Plus, a homebuyer can ask questions and discuss myriad mortgage options with these lenders.
With pre-approval for a mortgage, a homebuyer will be able to enter the housing market with a budget in hand. Then, this property buyer can narrow his or her search for the ideal residence.
3. Collaborate with a Housing Market Professional
Becoming the perfect homebuyer may require you to receive housing market guidance at times. Fortunately, if you work with a real estate agent, you can get top-notch support as you navigate the homebuying journey.
A real estate agent is a housing market professional who will go above and beyond the call of duty to assist you. He or she will be able to provide homebuying recommendations to help you make informed decisions. Also, a real estate agent will be able to keep you up to date about new houses as they become available, guaranteeing that you can speed up the homebuying process.
When it comes to buying a home, it is essential to do whatever it takes to acquire a first-rate residence at a budget-friendly price. Take advantage of the aforementioned tips, and you can move one step closer to doing just that.
It's easy to let everything that needs doing cloud our focus on the essential things. There are meals to fix, a house to clean, errands to run, bills to pay, yard work, school work, work-work! There doesn't seem to be a truly simple or easy way to get it all done. Sometimes you want to give up and let it all go. But that would mean admitting that you're not successful, can't keep it together, don't measure up.
The truth is that you really can’t do it all … at least, not all at once. Most of it is just distractions between you and your true goals.
Gary Keller and Jay Papasan, authors of The ONE Thing, offer a solution. When making any decision, they say to ask yourself:
Not everything matters
Goal-setting is not new. Every year thousands of people set goals, create resolutions, make lists, and define priorities. Sometimes, though, it’s easy to become caught up in fitting in, trying to live up to Instagram or Facebook posts from friends and family, or those PTA/PTO parents. When it comes right down to it, however, what’s right for someone else may not be what’s right for you and your family. What matters is what moves you toward your goals, dreams, and aspirations as a family and as individuals.
In each area of your life, try to pick the ONE thing that is most important. Prioritize getting that one thing done and don’t worry about the rest.
- Meals: if your family is busy and moving in all directions. Focus on keeping nutritious snacks on hand that they can grab heading out the door. If family mealtime is crucial to you, focus on ONE meal a week that the family is all at the table at the same time.
- Housework: define ONE thing each day. Do that one and don't worry about the rest. Eventually, you'll find you've freed up the time to take on the occasional deep clean, organization, or extra laundry.
- Paying bills: take one day to set up automatic bill-pay or some other online credit/debit card payment option so that you don't have to worry about the bills all the time. Then, the ONE thing merely is keeping that card account flush for when those bills come in.
- Consolidate errands so that you can make just ONE trip. Or, utilize online shopping and delivery to do it for you.
In each area that threatens to overwhelm your life, find the ONE thing that you need to do and do that one. Marking off your to-do list of ONE each day builds confidence and proves you’re succeeding!
If the ONE thing on your list is shopping for a new home, make that ONE call to your local real estate office and pass the job of house-hunting on to them.
Although you might have a home selling timeline in place, there may be instances where changes to your plan are required. These include:
1. You are listing your home in a buyer's market.
If you add your house to a buyer's market, you likely will face lots of competition from rival home sellers. As such, it may be difficult to enjoy a fast, profitable home selling experience if you fail to promote your residence accordingly.
To succeed in a buyer's market, you'll need to be patient. But if you can find ways to differentiate your house from the competition, you could maximize your home sale earnings.
Oftentimes, it helps to revamp a house's curb appeal. By mowing the front lawn and performing various home exterior improvements, you can help your house make a positive first impression on potential buyers.
You also should spend some time removing clutter from inside your house. That way, you can make it easy for buyers to envision what life may be like if they purchase your home.
2. You are struggling to stir up interest in your house.
After you add your house to the real estate market, it may be several weeks or months before a buyer submits an offer to purchase your residence. And if you're committed to optimizing the value of your house, it is important to wait for the right offer before you finalize your house sale.
If your home initially fails to stir up interest among buyers, there is no need to worry. In fact, there are many things that you can do to ensure your house hits the mark with buyers.
Generally, it is a good idea to establish an aggressive initial home asking price. This price should account for your house's condition, age and the current state of the real estate market.
It typically is beneficial to consider the homebuyer's perspective as well. Because if you understand why a buyer may be interested in your house, you could discover ways to help you house stand out in a competitive real estate market.
3. You have yet to hire a real estate agent.
Finding a real estate agent who can help you sell your house is key. Yet if you fail to employ an expert real estate agent right away, it may be difficult to enjoy a quick, seamless home selling experience.
Real estate agents are available in cities and towns nationwide, and these housing market professionals are happy to assist you in any way possible. If you need a real estate agent who can help you list your house and promote it to dozens of potential buyers, you should have no trouble finding an agent who matches or surpasses your expectations. Or, if you want to find a real estate agent who can offer tips throughout the home selling journey, you can choose from many potential candidates in your area.
Remember, be flexible as you proceed along the home selling journey, and you can increase the likelihood of achieving the best-possible results.
Believe it or not, the costs associated with selling a house can add up quickly. If a home seller fails to budget accordingly, he or she risks costly, time-intensive home repairs following a property inspection. Perhaps worst of all, this scenario may force a home seller to miss out on an opportunity to get the best price for his or her residence.
With a home selling budget in place, you can increase the likelihood of a profitable home selling experience. If you know what it takes to set up a home selling budget, you may be better equipped than ever before to streamline the home selling process.
Now, let's take a look at three tips to help you establish a home selling budget.
1. Assess the Condition of Your House
Before you list your house, it helps to perform a comprehensive home assessment. That way, you can identify potential upgrades both inside and outside your house and evaluate the costs associated with these home improvements.
Typically, a home inspection enables you to learn about your house's strengths and weaknesses. This inspection requires a property expert to assess your house and may take several hours to complete. Then, once the inspection is finished, you'll receive an inspection report that you can use to determine which home improvement projects that you may need to complete sooner rather than later.
2. Establish Home Improvement Priorities
Although you might want to give your residence a complete overhaul, there may be only limited time and resources at your disposal. Thus, you'll want to establish home improvement priorities to ensure you can maximize your time and resources.
Think about which home improvement projects are necessary. These projects should rank at the top of your list of home improvement priorities, as failure to complete them may prevent you from optimizing the value of your house.
As you establish home improvement priorities, don't forget to assess the costs associated with various home upgrades. This will help you achieve the best-possible home improvement results without spending beyond your means.
3. Consult with a Real Estate Agent
A real estate agent understands exactly what it takes to sell a home, regardless of the current housing market's conditions. In fact, this housing market professional can make it easy to map out a successful home selling budget and ensure you can quickly and effortlessly navigate the home selling process.
With a real estate agent at your side, you'll receive expert support throughout the home selling journey. A real estate agent will learn about your home and help you identify ways to enhance your residence. Plus, a real estate agent will offer recommendations to ensure you can upgrade your house on a budget.
If you're getting ready to sell your house, it helps to collaborate with a real estate agent. Reach out to local real estate agents in your area, and you can get the support that you need to establish a home selling budget.
So, you’re looking for a real estate agent and you find one with a “Seller Guarantee”—If your home doesn’t sell in 6 months, I’ll buy it! Sounds a little too good to be true, right? When provided by legitimate agents, these aren’t scams, but rather a genuine option if you need to sell your home quickly.
With enough time on the market, a good seller’s agent, proper staging and a marketing plan, most homes will sell in a seller’s market. That “time on the market” requirement can be a hang-up for some sellers though. If you are moving on a strict timeline due to a new job, divorce, inheritance sale, or any other reason, a guaranteed timeline can be a win-win. On the other hand, the purchase will likely be lower than market price so if you can afford the time, selling to your agent could be a terrible deal.
Common types of Guarantees
- “Percentage of Value Guarantee”— The agent promises you a portion of the market value if the home doesn’t sell. Keep in mind that the promised percentage will be based on fair market value, fewer fees, and commissions, so it will come out to be a lower take-home percentage.
- “Timeline Guarantee”—The Agent promises to buy your property if it doesn’t sell in a certain length of time. Usually, timeline requirements go together with price requirements, meaning that you likely must agree to a specific markdown plan, so your agent has the price they want by the end of the timeline. Given this markdown schedule, you likely will receive less than fair market value for your property, but you can be sure that it will sell within the specified timeline.
- “I’ll Buy It Guarantee”—Usually, this type of offer comes from agents who work with a group of investors. Investors either want to re-sell your property or rent it out for profit, so you can expect to lose a percentage of the equity.
The Real Win-Win
You will always get the best results from choosing a real estate professional that knows your market and can help you sell your home at true market value or higher through good advertising, proper staging and curb appeal. However, if the timing is more important one of these seller guarantee options could be the better choice for you.
Thinking of Selling? Talk to your agent about all your options including any seller guarantees available to you.