Home buying tips content.
Home Buying Tips
Home Buying Tips to Get You Started
The home buying market in Greater Boston is fiercely competitive, yet it offers many opportunities for savvy buyers who are ready to adjust and adapt. Virtual tools, open houses, and personalized appointments are just some of the ways home buyers are approaching the process with success.
Now more than ever, it is important to have a team of professionals who can assess your needs alongside current market conditions. Listed below are a few quick tips to get you started and in the home buying frame of mind.
Here are a few quick tips to get you started and in the home buying frame of mind.
Let's Get Started
1Hire a professional
Choosing this as your first step will make all subsequent steps that much easier. Buying a home is one of the biggest decisions, and financially one of the most expensive purchases you will ever make. Greater Boston is a desirable yet competitive housing market - a local and experienced real estate team is essential for identifying neighborhoods, navigating offers, managing bidding wars, and so much more.
2Make a list
Having a defined list of priorities up front paves the way for clear choices later on. For example, which towns appeal to you and why? Are you only open to single-family homes only, or are condos an option? Which amenities are most important – walkability, public transportation, access to parks? And most importantly, what are your non-negotiables and what are you willing to compromise? Sometimes these can be difficult to identify, but our team has the tools to help you make your list a thorough and thoughtful one.
3Understand timing & process
A thorough understanding of the time it takes to buy a home and the process to get you there is key. If you are not prepared going into the home buying process, important details could fall through the cracks and jeopardize the odds of getting the home you've been dreaming of. And as always, time is of the essence. If it takes you 3-4 days to find an attorney, lender, or inspector, it's going to add stress to an already stressful situation. Line up your team and head into the home buying process prepared, educated and proactive.
4Know why you're buying
You're not just buying a home, you're buying into a location and a lifestyle. You wouldn't buy a home simply because 'you love it.' You need to look at comparable homes in the area and decide whether it is a good investment based on market conditions. And vice versa, you also wouldn't buy a home simply because it's a good deal for the area. You need to consider personal preferences such as schools, commute, and whether it is a good fit with your financial situation. Work, home, and life situations have shifted, and remember that things will change again – think beyond the short-term and imagine yourself in a home 2, 5 or 10 years from now.
5Get your finances in order
Getting your finances in order includes understanding your cash-flow, spending habits, and contacting a trusted lender to obtain a pre-approval letter. The proper pre-approval or loan program can make you a stronger buyer in the eyes of sellers.
6Be patient
Remember, the home buying process is not a sprint. Patience, flexibility, and perseverance are tools that will allow you to navigate a competitive home buying market. This may mean looking outside your chosen demographic area or considering a different type of home. However, with the right real estate team by your side, you will cross the finish line confident and happy with your decision.
