Looking to buy a house in the next few months? Ultimately, a cautious approach to purchasing a residence may prove to be ideal, and perhaps it is easy to understand why.
There are many reasons to err on the side of caution as you search for your dream house, including:
1. You don't want to pay too much for a house.
Although acquiring your dream house may seem priceless, it is important to remember that the costs to purchase a residence can add up quickly. As such, if you're not careful, you risk overspending on a house.
Lucky for you, there are many simple ways to avoid the temptation to bid too much on a residence.
First, analyze the housing market closely and search for patterns and trends. If you discover an abundance of houses is available, you may be operating in a "buyer's" market. As a result, you may be better equipped than ever before to acquire a top-notch residence at a budget-friendly price.
Don't forget to get pre-approved for a mortgage prior to starting your home search too. That way, you can enter the housing market with a mortgage – and budget – in hand.
2. You want to find a house that you can enjoy for years to come.
A home is one of the biggest purchases that an individual will make in his or her lifetime. Thus, it is important to allocate the necessary time and resources to assess a house before you submit an offer on it.
Of course, a home showing is a must prior to the submission of a home offer. A home showing allows you to walk around a residence and envision what life might be like if you purchase this home.
After you submit an offer on a house, you'll likely have the opportunity to complete a property inspection before you finalize your home sale. This inspection is important, as it enables you to learn about any "hidden" problems that may have gone unnoticed during an initial home showing.
If you feel comfortable with a residence after an inspection, you can move forward with a home sale. Or, if you aren't comfortable with a house at this point, you can always submit a counter-proposal or remove your offer entirely.
3. You want your home to retain its long-term value.
Let's face it – buying a home is a tough decision. And if you need extra help determining whether a home purchase is a viable long-term decision, it may be a good idea to consult with a real estate agent.
Typically, a real estate agent can respond to any of your homebuying concerns and questions, at any time. He or she is happy to help you explore high-quality houses, and by doing so, will enable you to take the guesswork out of discovering a residence that will retain its value.
Err on the side of caution as you proceed along the homebuying journey, and you should have no trouble purchasing a residence that matches or surpasses your expectations.
About the Author
Kimberly Hering
Kimberly Hering's devotion to helping people achieve their real estate goals stems from her genuine enjoyment of the process. Whatever the task, Kimberly makes it her mission to get it done, however she can, without compromising her client's needs. Often, that means thinking outside the box. After working with Kimberly, clients describe her as being Trustworthy, Creative, Patient, Highly Skilled, Attentive to the Process and having a lot of Integrity.
After spending more than 15 successful years working on Wall Street, Kimberly transitioned into Real Estate, joining Alain Pinel Realtors, then moving to Zephyr, now Corcoran Global Living, in 2018. During her career on Wall Street, Kimberly was a Vice President working as an Institutional Equity Salesperson for Montgomery Securities for 10 years. She covered the top money managers throughout the US and Canada. She joined Jefferies & Co as a Senior Vice President managing the Western Region Institutional Sales group, while continuing to cover the top money managers.
Kimberly leverages her extensive experience selling equities to top money managers throughout the US and Canada, to successfully negotiating any Real Estate transaction seamlessly for her clients. Kimberly is well versed in Marin's neighborhoods, towns, cities, and education system.
Living in the Bay Area for 35 years, 25 years in Marin and having 2 sons in local Marin schools, Kimberly spends a lot of time volunteering in the community and serving on various local Boards. Kimberly has a collection of resources ranging from the best local breakfast spots to vetted contractors. With her reliable list of valuable resources, Real Estate experience and unsurpassed knowledge of Marin's many communities, Kimberly can guide her clients through every aspect of a Real Estate transaction seamlessly.
Relocating to Marin, downsizing, upsizing, first time home buying, final home purchase or sale, or a lot to build a dream home, no matter the undertaking, Kimberly works seamlessly until the job at hand is completed with 100% satisfaction.