What is the FIRST thing I should do if I want to buy a house?
What is the FIRST thing I should do if I want to buy a house?
It's difficult to say exactly what the first thing someone should do is... But a safe bet is understanding how much you can afford.
There are many "calculators" out there that can assist in this. But the best way to get a complete understanding of how much you can afford (and qualify to borrow) is to talk to a loan officer. Any good one will consult with you for free. If you find a lender that wants to charge you for an initial consultation, RUN, don't walk away.
What is a realistic number of homes you should view prior to buying
What is a realistic number of homes you should view prior to buying
This is an interesting question and one that is very difficult to answer...
The short answer is "as many as it takes to find a home for you".
The long answer is complicated and will likely change depending on your circumstances.
Purchasing a home will most likely be the single largest investment someone ever makes. As such, it is important to make sure you find a home that meets your current, and future, needs.
We tell our buyers to list home qualities and features into three categories:
1) Must Haves -- things you simply cannot live without
2) Nice to Haves -- things that would be nice, but you could do without
3) Can't Haves -- things you simply cannot live with.
Armed with a detailed list of these three items, a good agent can include and exclude many homes from your potential search. As more homes are visited, it becomes easier (most of the time) to refine the potential homes that may work for you. Be prepared, sometimes you may find things actually move around in your three categories!
Before you begin viewing homes it is important to discuss in detail with your agent the strategy and approach you will take to find, and view homes. There are agents out there that limit how many homes they will show someone -- an utterly ridiculous practice in my opinion.
I've heard some agents say "no one should have to look at more than 10 homes before deciding which one to buy".
Poppycock.
Everyone is different. We've helped people who bought a home after looking at 3 houses, and have other people we've shown over 100 homes to. It is important not to get into "analysis paralysis" and second-guess everything. It's also important not to pass up on a home you love "just in case" something better is out there. But by taking a systematic approach to looking at homes, keeping your priorities in order, and working closely with your agent, you can find the home that is perfect for you.
Finding info on a neighborhood
Finding info on a neighborhood
If you are considering moving to a new neighborhood, whether it's across the street or across the country, we recommend doing three things:
1. Use the Internet! You can find almost anything on the Internet....population demographics, crime rates, home sale trends, data on schools, satellite pictures of the area, the list is endless. The Internet is a great place to begin your research. For some tips and tricks on using the Internet to research a home or neighborhood, please visit our Real Estate & The Internet page.
2. Ask an agent. A good real estate agent knows the area. We drive around neighborhoods, we read the news, we talk to people. A good agent can tell you a lot about a neighborhood. You should know however, that real estate law prohibits us from discussing certain things. We can't tell you if a neighborhood is "good" or "bad". YOU have to decide that. We can't discuss racial, religious or economic status of a neighborhood. But we can point you to places to find answers and can provide you a lot of great info on potential neighborhoods. We just have to stick to facts, not opinions.
3. Drive around! We strongly encourage our clients to simply drive the neighborhoods they are interested in. (Obviously this may be impossible if you are relocating from a significant distance.) Try to drive the area at different times of day, during the week, and on weekends. Doing this can give you an excellent understanding of what an area is like. Sometimes nothing beats seeing the neighborhood in action...
If you do all three of these things, you find yourself a neighborhood expert in no time!
Do I need a real estate agent if I am buying a new home?
Given that I am a real estate agent, it's difficult to answer this question without looking biased. But you asked, so here's my opinion...
Yes, you should be represented by an agent if you are buying a new home. And no, I'm not saying that just because I'm a real estate agent...
Consider this. That smiling, sharp dressed young man or woman that greets you in the builders office is a licensed real estate agent. Who do you think they work for? The builder, that's who. Who's best interest do you think they have in mind, yours, or their employers? I don't believe I need to answer that for you.
No, the builder's agent won't cheat you. But they certainly aren't going to negotiate for you. You're not going to save a nickel by representing yourself, and the builder pays your agent's commission. So why not have professional representation from someone working for you and your interests?
Should I get a home inspection?
Should I get a home inspection?
The short answer is: Absolutely.
Home inspections are not required before purchase (at least not in Arizona). At least not contractually. However, in our opinion, every home should have a professional home inspection during the 10 day inspection period. The cost is dependent on the age and size of the home, but it's probably the best $200 - $400 you'll ever spend.
A good home inspector will be able to tell you many things about the home you are considering purchasing. You'll get maintenance tips, you'll get peace of mind, you'll get a great sense of the condition of the home. A good inspector can find structural problems, ensure the wiring and plumbing "meet code" and evaluate the condition of all the appliances included in the sale. They will check out the home from top to bottom and you'll walk away with a detailed report on just about everything in your home.
Getting a professional home inspection is one of the most important steps in the purchase of a home, whether it was built 100 years ago or yesterday.
