Real Estate Special Section SUMMER 2021
WANT TO BUY IN 2021 ?
You ’ re ready to buy a house . Whether it ’ s your first home , your forever home , or your retirement home , buying a house is an exciting and exhausting experience . Make sure you ’ re prepared with knowledge of the market and of what exactly you ’ re looking for in a home .
1 . Watch your credit . Start preparing early by avoiding expensive purchases on your credit card and making sure you don ’ t deposit a large amount of money into your bank account . The first thing lenders check is your credit score and bank balances to determine how much you are approved for on a home loan . Try to pay off as much debt as possible in advance of your home purchase and to keep your credit card balances low .
2 . Where in the world ? Choose the locations where you ’ re interested in purchasing a home and check out home prices in those areas . You don ’ t want to have your heart set on a location and come to find it is out of your budget . Determine what you like about certain areas , such as the school district , accessibility to work , and proximity to parks and restaurants . Your real estate agent can then help you narrow down more specific locations in which to focus your home search .
3 . Create a list . Or create a few lists . Must-haves versus wish lists are critical , especially if you ’ re buying a home with someone else . What do you consider a non-negotiable ? For you it may be a certain number of
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HOW TO GET TOP DOLLAR IN A SELLER ’ S MARKET
High demand and low inventory make up a seller ’ s market in real estate . Listing your home in a seller ’ s market could be the difference of having your home sell in days versus months . Demand for houses typically drives up competition , allowing sellers to potentially receive above asking price for their homes . But listing in a seller ’ s market doesn ’ t automatically guarantee your home will sell quickly . You still need to take the time to find a good real estate agent , ready your home to be listed , and do some research on the housing market in your neighborhood .
Once you decide you are ready to take the next step and sell your home , do some research on real estate agents in your area . Ask family , friends , and coworkers for recommendations and feedback on why they liked their agents . Once you have a few recommendations , reach out to them to learn more about their experience in selling homes similar to yours , the types of clients they usually work with , and to gauge if your personalities jibe . It ’ s critical to have someone you can trust .
Upon hiring , ask your agent to do a walkthrough of your home from the outside in , to provide you with constructive feedback on how to best ready your home for a buyer ’ s eyes . Be sure to keep an open mind when hearing feedback because decorations or paint colors that appeal to you may not appeal to buyers .
Once your home is ready to list , work with your agent to do some research on the housing market in your neighborhood . In a seller ’ s market , you may be able to list slightly higher because of limited inventory , but you ’ ll need to still list at a fair market value . If you list too high , it will immediately turn buyers off .
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