Goals of a home buyer – Metro Detroit real estate talk
Whether you are buying a home for the first time or are an experienced home buyer. I thought I would share some of the goals you should have when buying a home.
1.) Buy a home that fits the goals and needs of you and your family. This seems straight forward, but over the years I have seen people buy homes that make no sense. Sometimes home buyers look for a long time and get tired of the process. They get so tired of looking for that perfect house in their mind that they just buy anything at the end. Sometime totally different that what they were looking for over the last few months. Just because they got tired and just bought.
Write down your must have in a home. The write down what you would like to have. Sure you wants and must haves might change over the time you start and when you finish but that is normal. Sometimes it is finding out what you want is not in your price range. Budget is many times a big priority. One piece of advice is you want to listen to your real estate agent. We have been in the trenches a long time. If you hire an experienced, successful real estate agent we will have worked with hundreds of buyers and will understand our local markets. Sometimes we get clients that know it all. They will not listen to us. Sure we help them find a home, but sometimes they make a major mistake in their choice.
As a realtor we are not going to get in a fight with you if you think you know more than us. Many years ago I had a client that knew so much more than me. They would ask questions and then do something different. Well they had a budget of $500,000 for a lake home. Well they flipped and bought a lake lot at $289,000. My client knew more than me and felt he could build the house cheap. Well they ended up spending over $700,000 on a 1900 square foot home. So now they are upside down in their lake home on a mediocre lake. So it pays to listen to your realtor it will pay off.
2.) The goal of buying a home is too be debt free when you retire. Sure some financial planners that make money off you investing with them will say I am wrong with this. However having your home paid off when you retire and have less income will make your golden years a little easier. You will not have a mortgage payment and will have more money to enjoy life.
3.) The third goal of buying a home is to make money when you sell the home in the future. It is all about buying a home that will be worth more later on. So what are some of the reason why a home is worth less or more? What negatively affects a home price and makes a home sell for less.
a.) Odd layout. Most homes have a conventional layout. When it is an odd layout, or a layout that people get confused in….it hurts the sale price and takes longer to sell. When you have to go around in a circle to get to all the rooms is a confusing layout to people. Most people like a center hallway, not one that circles around the house.
b.) External influences. What I mean by that is buying a home that is by a busy road, or a high tension electrical tower, or by a commercial business. All of these items discount the price of the house. You may buy a house for less, but you are going to sell it for less later on. One of the biggest mistakes of new construction buyers is buying a new house with those issues. Their home is not going to be worth as much when they go to sell it.
c.) Schools. A poor or below average school system is not the best place to buy a home. Home buyers like to buy homes in good school district. Usually you can say better school districts will have higher demand for the homes. So do not buy a home in a declining school district or declining city.
These are the goals you should have when buying a home. If you are looking for a real estate agent that will watch out for your needs and wants give me a call or text. My cell is (248) 310-6239 I will work hard for you and your family.
Do you know What to bring to your Mortgage application? This article will tell you about the top 5 things to bring to the mortgage lender so you won’t have to do it later. This will help you be prepared. If you are a first time home buyer or forgot what PMI is here is a quick explanation of PMI? If you are a first time home buyer check out these Michigan first time home buyer tips. I always believe that an informed home buyer will make smarter choices. They will know what to expect and the whole home buying process will be smoother for them.
[wnt_grid keyid=”1″ title=”West Bloomfield homes for sale” maptype=”disabled” ownertype=”all” paginated=”true” sortoptions=”true” maxresults=”50″ search_mode=”form” primarysearchtype=”active” searchtype=”city” state=”MI” single_family=”y” min_price=”0″ max_price=”1000000000″ listing_status=”Active” county=”Oakland” city=”West Bloomfield,West Bloomfield Township” /]