New Jersey Real Estate Digest: Home Buying: Four Tips

Friday, October 06, 2006

Home Buying: Four Tips

Just finished a good article by Holden Lewis of Bankrate.com offering consumers four tips on buying a house. What I like about the article is Lewis encourages buyers to do their homework. Yes, using a buyers' agent is good, especially in this market; but having the ability to express the qualities of your dream home requires some thought. Being able to answer the questions of what neighorhood, style, must haves, wants, and price range means your agent will be able to look for houses that meet or closely match your criteria.
I encourage clients to look online for properties, even if it is not in the neighborhood they desire. It is true a picture is worth a thousand words so if a client has a dream house in an undesirable neighborhood it is likely I can find something similar in the desired neighborhood. I will not waste my client's time showing them houses that they will reject. My clients are happy and when my clients are happy, I am also.
Here are the four tips:

If you find the right house at the right price, buy it.

Waiting to see if prices go down could lose you the property.

Put technology and a good buyer's agent to good use.

I call this doing your homework. Check out houses online. Make a list of wants, must haves, and any other pertinent facts about your dream home. When the time comes to
do comparative market analysis(CMA) on a property a good buyer's agent will be invaluable. Now, I am not just saying that because it is what I love doing, I am saying it because even though there are other means to do CMA's the buyer's agent brings human experience and knowledge to the table that technology has not been able to surpass.

Negotiate effectively

A good buyer's agent will assist you in negotiating the best price, terms, and conditions for your home.

Avoid Gimmicks

There are all kind of gimmicks out there but the business at hand is to purchase a home. If a gimmick is offered turn that gimmick into cash toward the purchase of your home. Good advice.