Blog :: 07-2016

4 Tips to Keep Your Focus When Searching for Your Dream Home

Haven’t we all put at least a little thought into our fantasy home? It’s easy to do, especially if you are active on Pinterest! It’s fun to “pin” images of immaculate and professionally designed homes with expansive kitchens with commercial appliances and backyards that would require the hiring of a full time gardener.

An important  step in finding the right home for you, is finding the right balance between wishlist and reality.  Regardless if you are a first time home buyer, moving up, or downsizing, when you are ready to start house hunting you have a list of features you’d like to have in your home. That’s great – it’s important to know what you’re looking for, but I have a few pointers that may help if you a struggling to make a decision.

1. Avoid the Phrase “Move-In Ready”

For starters, “move-in ready” is a really broad description. There is a difference between wanting to avoid major renovations and being able to move in without making any changes or repairs. People’s taste in décor varies and unless you are buying a brand new house, the house is not going to be in perfect condition (even brand-new houses can be in less than perfect condition).

2. Realize That FOMO is a Real Thing and You May Be Experiencing It!

FOMO (fear of missing out) happens to the best of us. This can happen when you’ve been viewing homes and you find one that you want to make an offer on, but you fear that as soon as you do, a better one will come on the market. Just remember, it’s natural to be nervous – purchasing a home is a big decision, trust your instincts and keep your eye on the prize!

3. Decide What is (Really) Important

You’ve made your list, but after viewing a few houses, you are discovering you may have to whittle your list down according to your budget and realities. Try this exercise- make a list of all your wants, circle the top ten must-haves on that list, then put a star next to the most important five items. You could even take a step further to the most important three items. House hunting is easier once you establish what your top priorities are.

4. Find a Real Estate Agent You Trust

Sometimes after you start actively looking at homes, the ranking of your wish list can change. It is really beneficial to work with one real estate agent. When you work exclusively with one agent they learn more about you and what you are looking for in a home. It’s important to choose an agent you feel comfortable with. Find someone that won’t rush you, takes the time to find out the answers to all your questions and can help guide you through the process of buying a home.

Feel free to contact the team at Tim Scott Real Estate with any questions.

Comments

  1. No comments. Be the first to comment.

3 Ways to Make Your Offer Stand Out

A recent trend in real estate, in the Northeast Kingdom is the increase in activity for homes in the $150,000 to $200,000+/- price range. As we continue to see low interest rates, the number of actively-looking home-buyers increases.

In the last couple of months, at Tim Scott Real Estate alone, we’ve had five of our listings in that price range go under contract within 2 weeks of listing! Four out of five of those listings had multiple offers.  Great news for Sellers – if you’ve been considering listing your home and fall into that price range, it may be the perfect time to act. 

However, as a Buyer in this competitive market, if you become one of multiple offers on the house - what can you do to make your offer stand out?

1. Have Your Pre-Approval Letter Ready to Go

If you’re going to be financing the property make sure to have your pre-approval letter updated and present a copy of the letter with your offer. If you feel that having the full amount of your pre-approval will inhibit your negotiations, have your loan officer provide you with a pre-approval letter without the full amount your pre-approved for. Your lender can change the number to coincide with your offer. Most sellers will not even consider an offer from a buyer that has not consulted with a loan officer.

2. Less is More…When it Comes to Contingencies

Even if the amount your offering is strong, sellers can feel overwhelmed if the offer comes with a laundry list of contingencies. The less contingencies there are, the better the chances the property will close and therefore be more appealing to sellers. Keep only the contingencies that are important and protect you as a buyer.

3. Include a Personal Letter

Although home owners want to get top dollar for their properties, it also can be a very emotional experience. Write a letter to include with your offer describing who you are, what your family is like, and what you love about their home. It can be very reassuring to a seller to know that the next home-owner will love the house as much as they did. It can be that extra weight to tip the scales in your favor if the competing offers are similar to yours.

Contact the team at Tim Scott Real Estate with any questions about the home buying or the home selling process.

Comments

  1. No comments. Be the first to comment.