Top 10 Smart Things to Do When Buying a Home

1. Get to Know Financing Extremely Well—Financing a home can be a very difficult and confusing process. Go to an experienced, successful Lender! Let them educate you on the advantages and disadvantages of each type of mortgage. Ask questions so you fully understand what loan would best meet your financial objectives.

2. Find an Agent Who is Aggressive— It is important to have a ‘Buyer’s Agent’ who works for you. You want someone who is experienced. You want a straight shooter who will tell you that a home is a bad deal when it is. They are your advocate through this process.

3. Don’t Sign a Contract Immediately—You must have a good feeling about your Realtor. If you feel pressured to sign a Buyer’s Agency Agreement upon your first meeting, this is not the person for you. You should have the opportunity to work with that Realtor one or two days prior to signing an agreement. This needs to be a mutually beneficial relationship in which you are confident you are working with someone who is compatible and has your best interest in mind.

4. Know the Home Prior to Buying It— There is so much information available on every home for sale. Before making an offer, make sure you know: How long has the house been on the market? What have comparable homes in the area recently sold for? Has there been a price reduction? What did the Sellers pay for the home? How long have the Sellers owned it? Has there been work done to the home without proper permits pulled? Your Realtor should provide you with this information.

5. Drive the Work Routes in Rush Hour BEFORE You Look at the Houses in a Particular Neighborhood— Know the neighborhood ahead of time. Some homes are worth an extra 10 minute commute.

6. Look Slightly Above and Below Your Price Range— It is always a good idea to see as much as possible. The PERFECT home may be $2000 below or above your identified price range. This $2000 may be negotiated in the sales price.

7. Look Ahead of the Curve—Always try to buy in an area that is ‘hot’ or about to be ’hot’. That’s where the best appreciation is. Location is the single most important factor in resale. Remember that you don’t make your money when you sell your home. You make it when you buy a great investment that will appreciate.

8. Buy Newer if Possible— Newer homes have modern designs and features that older homes don’t have. They appreciate faster and cost less to maintain. Older homes have their charm, of course, but be prepared to pay the price of higher maintenance and utility bills. However, New Builds may not be the answer. There is tremendous cost with new homes: landscape, fencing, sprinkler systems, and window coverings are just the beginning!

9. Drive By Everything—Ask your agent to print out everything in your price range in the areas that interest you. Then drive by everything. This allows you to see everything on the list and narrow down the list. You can’t buy a home from the outside, but you can say no to it. Drive-bys allow you to get an idea about the neighborhood.

10. Get a Good Home Inspector—You want a home inspector who is excellent at identifying major problems yet does not write up nonsense items that just scare the buyer and irritate the seller. Ask your Realtor for recommendations.

If you have questions or are looking to a home for sale in Colorado Springs, contact your local Real Estate Expert, Mike MacGuire Today. He can walk you thru the process of searching for Homes for Sale in Colorado Springs whether you're a First Time Home Buyer, a Move Up Buyer or Relocating to Colorado Springs! Get an Expert on your side!