Buying

So, you are thinking about buying a home. This is quite a big decision. Here are some things to think about as you prepare to buy:



  • If you already own a home, are you going to sell it before you buy, buy before you sell or try to time it perfectly so you close simultaneously? Each has its own set of plusses and minuses. 
  • Have you spoken with a lender? If not, you should, soon. They will check your credit, verify your income and debts. This step is critical as it paves the way for a smooth transaction later.
  • What kind of home do you want--condo, single family, acreage, 
  • What are some things you can't live without? Its ok to be a little selfish here. If you MUST have a certain school zone, don't compromise! Just understand that the more specific you are, the longer it will probably take.
  • What are your priorities? Schools? Proximity to Work? Value? Square Footage? A Pool? Your hunt is going to be much more successful and much less stressful if you identify some of these before even starting.
  • How much do you want to afford? This is NOT the same as how much you can afford. Most of the time the lender is going to give you a budget MUCH higher than you would actually be comfortable with. Think about lifestyle. Do you like restaurants? Don't be house-poor! Just because the bank will give you the money, does not mean you should take it all!
  • What is your timeframe? Do you have a lease running out in a month? If so, we probably need to skip short sales. Do you have 6 months to look? If so, we can be very picky. I will work as hard as possible to meet your deadline. I will also help you formulate contingency plans if we just can't hit our target.
  • Is this the right time to buy? This question has way more to do with your personal situation than it does with market conditions. Right now prices are on the uptick and rates are as well. This news, however, should not dictate your buying decision too much. Do you have cash reserves? Is your credit polished up? Do you anticipate job stability? Are your debts paid down? Are you looking forward to a major change in family status (new marriage, divorce, new baby, older kid moving out or back in, aging parent moving in, etc.) These are way more important than a 1/2 point rate change.

Selling

Selling a home can be very stressful. My goal is to make it as easy and stress-free as possible for you. I will ask you a LOT of questions before we ever sign any paperwork. Accurate, honest answers during this step will help alleviate future stresses. Here are some things to consider when you think about selling:

  • Why are you selling? Have you outgrown the home? Has your home outgrown you (kids moved out, etc.)? Are you changing jobs? Is it deeper than that? Learning motivation is essential for me so I can be best equipped to meet your needs.
  • How much do you owe on the house? Believe it or not, it is is easy to mess this one up. Consider your first mortgage, second mortgage, tax credits from 2008-2010, financed HVACs, financed roofs, back property taxes, IRS liens, etc. The clearer this picture is, the easier it will be to predict the outcome.
  • What is your top priority in selling? Do you want to sell it fast? Do you want to sell it at true top dollar? Do you want to do nothing to it to prep it for sale? Sometimes these things conflict with each other. 
  • Are you willing to prep your home for sale? I employ a home stager. She is amazing. Will you do what she suggests?
  • Are you mentally prepared to be on the market? It can be a real pain to be listed sometimes! Showings, keeping the house clean, etc.
  • How much do you love that inside pet? Pet odors and hair can immediately kill a deal. 99% of the time the homeowner does not even realize its there. If I mention it, its not because I hate your pet or am a mean guy, its because pets can break a deal. Do you have someone that can "baby sit" Fluffy for the duration of the listing? Can Fluffy move into the garage? 
  • Smoke. Do you smoke inside? If you do, stop now and don't list for a long while, after you paint everything and replace all your furniture. Smoke smell will kill a deal even faster than pets. 
  • Take an honest assessment of your home. What things need to be done to make it market ready? Is your HVAC 15 years old, it will probably hinder the sale. Do you have wall paper? It will probably hinder the sale. Do you have old wood windows that have been painted 45 times in the last 30 years and they look terrible? They will probably hinder the sale. Give me a call and lets look objectively at your home together.
  • What do you expect out of your Realtor? Help me serve you better. 

Links


Useful Links for Buyers:

Tennessee Housing Development Agency
USDA Rural Development
Check Eligibility for RD Loan
Housing and Urban Development (HUD)
The Housing Fund


 

 

 


 


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