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2. Questions Every Buyer Should Ask 3. Pre-Approval Versus Pre-Qualification: Is There A Difference? The biggest factor for singles and families continues to
center around location - the neighborhood, price, and proximity to work, school,
family, and friends. "The best advice I can give a buyer in today's market is not to take too much time deciding on making an offer on a home they like. If it looks good and you like it ... go for it. It won't be there tomorrow." As a homebuyer, what should you do to position yourself? For starters, you'll want to: Do your homework. Determine what you want - how many bedrooms, approximate square footage, and which neighborhoods you prefer. Spend time comparing mortgages to get the most advantageous plan for your requirements and financial situation. Get pre-qualified for a mortgage before you begin looking at homes. Not only will this give you an exact price range for your purchase, but pre-qualification will add a great deal of strength to your offer. Stay in close contact with your agent and clearly express your needs. This is especially important if you're in a market where inventory is low. You'll want to be notified as soon as a home that fits your criteria goes on the market. Keep in mind that there's no such thing as the "perfect" home. Instead, set priorities. Determine what you're willing to sacrifice, especially if you're in a tight market. Bid competitively. Keep in mind you'll likely be competing against other offers. If you're in a tight market, it's not the time to see how low the seller will go. Protect yourself by investing the $200 to $500 for a professional inspection before you buy the home and sign the final mortgage loan papers, otherwise you run the risk of not exposing potentially expensive - or even hazardous - defects in the property. Most importantly, if you're determined that now is the time to buy, don't be timid. You'll need to be ready to pounce and make an offer as soon as you see that close-to-perfect home that hits the market. |