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Home Buying Tips

Finding the property that 'speaks to you' can be nerve racking to put it mildly. There are so many choices,and it can be frustrating when you finally find the right house but the price is not what you can work with or the right spice but the house is all wrong. There are a few basics to keep in mind when you want to buy a house:

1. Get an agent: This is sound advice, unless you are well experienced in buying and selling. 80 percent of the property goes through agents and if you do not have an agent you you could be missing out. What you will see is only about 20% of the properties being sold by the owners.

2. Choose an agent wisely: it is one thing to decide to get an agent; and another thing to get a good one. You will know that your agent is a good one when:

a. He/she provides you with sufficient background information. Your agent should be willing to provide you with the names of a few past clients as a reference

b. He/she is easy to talk to, not full of jargon and business airs; your agent needs to be "on-your-side" and really understand your needs and requirements. Unless you have a good rapport with your agent, you may never get the right property.

c. He/she should have knowledge of the local market trends and preferably has been in the business for at least a few years (it is not that new real estate agents are not good, but it is always better to have an experienced hand)

d. He/she has a few expired listing that you can check

3. Get your budget right: Before you even start to look for a house, decide what you are willing to spend. Purchasing a property can have is a long term financial commitment, prepare a long term budget be realistic.Only when you have a definite price range (min-max) should you proceed to look for a house. Having pre-approved mortgage will clearly indicate the limits of your budget, not to mention expedite the process when you effect the purchase.

4. Research and decide what is available: Check the housing in the neighborhood you would like to live and see what would suit you best. Keep location, design and facilities in mind. Settle on something that makes you feel good when you are inside and outside.

5. Keep future needs in mind: Buying a house is a long term investment, is your family going to increase, will you be able to expand if the need arises? Whether you would want to have a home office or a large family, see if the house you choose can expand or already has the amenities to accommodate your future needs.

6. Be systematic: Maintain files on each of the properties you see and stored all pertinent information on each house you see such as price, pros and cons, features you love the most, features you hate the most, suitability etc. This will your decision making in the end.

7. Know the facts: Being will educated on what to look for - like walls, plumbing, electric wiring, etc. Be sure that you know what the house inspection process involves so you can not only understand what is good and what is bad in the houses you see, but also know what you have to look for to qualify it.