As you go through different stages of life, your needs as a homeowner change. Starting a family, relocating for a new career, children going off to school, and retirement can alter your lifestyle, and your home requirements. With each situation, you have unique needs, goals, budgets, and timelines. Buyer’s Agent Remaklus Realty can help you develop a home-buying strategy when moving in Reno while keeping your best interests in mind!
First-time home buyers are particularly vulnerable to home-buying risks. There are many considerations that may not come to mind in the excitement of searching for their new home, such as:
- Condition of Home
- Property Taxes
- Use Restrictions
- Insurance Costs
- Utility Costs
- Parking Availability
- Homeowner Association Rules and Dues
- Home Maintenance and Repair Costs
- School Districts
- Local Amenities
First-time home buyers should begin the process by creating a realistic home-buying budget, based on a mortgage pre-approval. You should write down what you consider to be top priorities (home repairs, maintenance, etc.) and decide how much you are willing to compromise. The team at Buyer’s Agent will guide you throughout the searching, financing, and home-buying process, keeping your best interest in mind every step of the way.
If you find that your household is outgrowing your home, or you’d like to obtain a home with more amenities there are certain factors you should keep in mind before diving in. Here are a few mistakes to avoid when you are thinking of trading up:
Not Getting Pre-Approved. Getting a mortgage pre-approval is free and give you the upper hand when you put an offer down on a new home. You know exactly what you can and cannot afford and you already have approval from your lender.
Falling in Lust. We are all guilty of doing this. Driving past a home and falling in love with it. As homeowners, we need to remind ourselves that we will be engaged in a negotiation process; and avoid falling in lust with a home. Your best asset in negotiating the price of a home is to stay as unemotional as possible. Remember this: buy an investment that can be turned into a home. Investor mindset – not a lustful one.
Not Willing to Make Necessary Improvements. If you want to get the best asking price for your home, there are small improvements that you can make to enhance your home for prospective buyers. Whether it be sprucing up the guest bathroom or replacing the carpet with sleek wood floors, these small home improvements can make a big difference.
If your kids have flown the nest; or you are newly retired and looking to downsize, it might be time to sell. Depending on your needs and your long-term goals, you might consider investing in a smaller home or condo. Many people do this because of the easy upkeep, convenience, security, and features that encourage aging-in-place. Buyer’s Agent will help you find a home that matches your budget, lifestyle, and preferences. We will keep your income, budget, and home-buying motives 100% confidential. Our team has a vast network of industry professionals, home service providers, contractors, lenders, and movers ready to help you!