Thank you for joining me for the second half of our series featuring my
Top Ten Tips for Preparing to Purchase. Read on for tips 6-10.
6. Think long term.
If you are planning to move in less than three years, owning right now may not be for you. If you are staying put for the foreseeable future and ready to commit to a long term investment, go for it. Unless you are operating as a flipper and planning for a quick turnaround, the transaction costs of buying and selling a property may not be worth a short time in a purchased property, even in a market on the upswing. Not sure what to do next? Your timeline and any future moves are valid points of discussion with your Realtor.
7.Good schools will always make the grade.
Maybe you are an Empty Nester, or maybe you are a swingin’ single. Maybe your kids come with collars and fur. Or maybe you’ve got 3 bundles of joy and another one on the way. Regardless of your status as a parent, buying your property in a good school district just makes sense. Property will hold its value better in a good school district, and when it is time to sell, your choice will pay off.
8. Plan your bidding strategy in advance – and be informed.
Information = Power = Money in the bidding game. If homes in your target neighborhood and similar to your property of interest (ie. Comps) are selling below market value, offer accordingly. If the home you desire is listed below what the market will bear, be aware of it, and come in with a strong offer. Making a serious Real Estate offer is not about what you feel like spending or your “gut” on what to offer. Do your research and listen to your Realtor.
9. Hire an Experienced Home Inspector.
How do you feel about surprises? The prize at the bottom of the cereal box, a bigger tax return than you expected, the ultimate Happy Birthday from a crowd of friends and family. Surprises can be swell! Surprises in a new-to-you home? Not so much. You wouldn’t buy a car without a test drive, hire a professional Home Inspector to make sure the plumbing, electric, etc. are in order before you finalize the purchase of what is probably your biggest investment. Just do it.
10. Seek help. Professional help.
There is a lot you can do online to aid in the search for your home, and I encourage you to be an active participant in the process. Market trends? You can seek out current statistics. Drive-bys? You can do that, too. Go for it! When it comes to submitting your offer, negotiating your contract and weeding through any issues that arise during your personal Real Estate transaction, you want an experienced professional by your side. Put the odds in your favor and don’t go it alone. If you enter a transaction without professional counsel, you may end up stuck – and sorry. Chances are though, you’ll never regret working with an experienced Real Estate professional.Plan your bidding strategy in advance – and be informed.
Are you ready to Buy? Ready to Sell? Ready to chat about your options in the Denver Real Estate Market? Drop me a line – I’m happy to help in any way I can.