Hi. This is Susy Thomas with your weekly real estate advice. Today I'm talking to people who are thinking about buying a home. As I've mentioned before, the first thing that you want to do is check with your loan officer to determine whether you're shopping at Walmart or Neiman Marcus.
Once you know your price point and you have the general idea of what neighborhood you want to purchase in, think about a few things. One being you might stay in that house from three to seven years. During that time, the value may increase by up to 5% a year. You're gaining equity right away. Keep in mind, though, that where your house is located has a lot to do with it. You know the old location, location, location? Are you buying in an up and coming area or are you buying some place that's very noisy? How far is the commute? How do people get around? How close are businesses? Keep that in mind.
Then the third thing to keep in mind is when you're looking at property, remember, aesthetics are easily changed. You can't add a view. If you buy a place with a view, you've got it. You can't put one in. You can change the kitchen, you can change the ugly green paint in the living room. Those are things that are minor. Don't worry about them.
Then don't wait. If you find something you like, you've got to be ready to go. That's why that preapproval from your lender is important. There may be more inventory now than there was a few months ago, but, still, good properties don't last. Be ready to jump.
Then when you're ready to make that jump and make an offer on a home, have your real estate agent check with the sellers, find out what their motivation is, and look at recent sales to determine what the value is.
Those are some tips for you. I'd love to help you with any questions you might have. Shoot me a text, or give me a call, or just follow me on any of the social media sites. Have a great day, and happy shopping.
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