Buying your new home can be a very rewarding or frustrating experience, it’s all about the expectations you have set. There is probably a good chance the parameters you set for your new home may also change over the course of finding a home to buy.
The last few years have definitely been favoring home sellers, meaning that home buyers have been finding the competition very keen, increasing home prices and buyers have resorted to different tactics to get an offer accepted. The demand for homes has been much higher than the available homes for sale, so when you are at the next Open House, you will now understand why there are so many people in attendance.
Tips for Buying Your Home
I have worked with prospective home buyers who give me 10 different cities across a very wide area with little or no specifics. Let’s face it if you don’t know what you want or where you want to live, I don’t either. The more specific you can be the greater chances of your success, to a point that is.
After you have looked at a few homes and have an accepted offer, it’s time to start the home inspection process. If you have never done this before it can be a little intimidating, but it need not be. The best place to start is with a general home inspection, and the inspector may recommend you hire a plumber, or electrician or roofing contractor to look at other parts of the house that they may not be as familiar with.
I usually always recommend a sewer and a fireplace inspection in addition to the general inspection. Together these inspections may cost you about $1000 but can definitely help with your piece of mind.
You will also have numerous reports and disclosures that are provided to you by the home seller and the escrow company. This is your time to familiarize yourself with the condition of the property and make absolutely certain that you want to proceed with the purchase.
The purchase contract generally provides you with an inspection contingency to make absolutely sure you have familiarized yourself with all of the systems and conditions of the property.