Pam DeGemmis' Blog
When your family is searching for a home, it’s an exciting time for the adults, but if there are children involved, it can be a difficult task. Children don’t have to be left in the dark during a home search. Children of all ages can be involved in the process of finding a home. Read on for tips on how to make your kids feel a part of the home search process.
Preschool-aged children might seem not to be aware of the fact that your family is searching for a home, but they can still very much be a part of the process. One thing to remember about young children is that you shouldn’t give them too many options. Once you have narrowed down the homes to a few and the time to buy a home is close, it’s a good time to tell your toddler about the fact that you’re moving. While you probably don’t want to take your kids along with you on all of your home viewings, you can bring the children with you. Even the opinions of the tiniest among us can help contribute to a final decision.
Older children may be more challenging to deal with during a move. These kids are more aware of the changes to come and maybe more reluctant of the entire process. It’s best to include children this age (around 6-9 years old) in conversions about your plans. Where do you hope to move? What neighborhood will the home be? Show them pictures of potential new homes. Allowing kids this age to share their thoughts on location and the types of houses you’re looking at can help to ease fears and anxieties. Remind your kids that the final choice is up to the adults but that you appreciate and welcome their input.
Older Children And Teenagers
Pre-teens and teenagers can play a part in the house search. Make sure that they understand that there’s no pressure on them to pick a house but their input is essential to you. Teens are tweens should be encouraged to come along on house tours to help give an opinion on the properties in person.
The older the kids that are involved, the more you should value and welcome your input. Make sure that you reassure your teens, letting them know that they can continue their favorite activities. Do a little research on the new community first, or allow your kids to do a bit of research themselves.
No one wants to face a homebuying dilemma. Yet problems may arise during the homebuying journey that make it tough for an individual to find and buy his or her dream residence. Lucky for you, we're here to help you prepare for potential homebuying dilemmas and ensure you can quickly address these issues.
Now, let's take a look at three tips to help you avoid a homebuying dilemma as you search for your ideal house.
1. Craft a Homebuying Strategy
If you intend to embark on a home search, it often helps to enter the real estate market with a plan in hand. That way, you can streamline your house search and boost the likelihood of finding a quality home that matches your expectations.
Think about where you want to live, as well as the features you want to find in your dream home. Then, you can create a homebuying strategy designed to help you discover the right house.
2. Get Pre-Approved for a Mortgage
Obtaining home financing may prove to be problematic for some people. However, if you apply for a mortgage today, you can start your search for your dream home with a budget at your disposal.
There is no shortage of mortgage options available to homebuyers nationwide. Adjustable- and fixed-rate mortgages are two of the most popular options for homebuyers. Meanwhile, banks and credit unions can teach you about adjustable- and fixed-rate mortgages and other home financing options at your convenience.
If you meet with banks and credit unions, don't hesitate to ask mortgage questions, either. If you learn about all of your mortgage options, you can make an informed home financing selection that may serve you well for years to come.
3. Hire a Real Estate Agent
There is no telling when a homebuying dilemma will crop up during your search for your dream residence. Fortunately, if you hire a real estate agent, you can receive expert assistance with any homebuying dilemma, at any time.
A real estate agent understands the challenges commonly associated with buying a home. Therefore, he or she will do everything possible to help you address these challenges as you navigate the homebuying journey.
Typically, a real estate agent will help you craft a property buying strategy, narrow your home search and establish realistic homebuying expectations. He or she also will set up home showings, teach you about different aspects of the housing market and provide homebuying recommendations and suggestions.
If you discover your dream residence, a real estate agent will help you put together a competitive offer to purchase this home too. And if your homebuying proposal is approved, a real estate agent will help you finalize your house purchase as quickly as possible.
There is no need to stress about homebuying dilemmas. If you take advantage of the aforementioned tips, you can get ready for potential homebuying problems and resolve these issues before they escalate.
Ready to acquire your dream house? Before you embark on a home search, it often helps to establish a homebuying wish list. That way, you can narrow your house search and discover your dream home without delay.
Now, let's take a look at three factors to consider as you craft your homebuying wish list.
1. Home Size
Home sizes vary. As such, you'll want to consider your living situation closely to ensure you can find a house in a size that suits you perfectly.
Remember, a three-bedroom house may be too big for a single person. Much in the same vein, a one-bedroom home is unlikely to meet the needs of a family of five. But if you consider your living situation ahead of time, you can determine what size home to buy.
2. Home Location
Do you want to own a house that is located just minutes from your office in the city? Or, would you prefer a home in a small town? Think about where you want to live, and you can tailor your home search accordingly.
Keep in mind that home prices will vary based on location. Oftentimes, houses in or near major cities are more expensive than similar homes in small towns. At the same time, homes close to top schools or attractions may prove to be more expensive than others.
3. Home Exterior and Interior Features
Consider the home exterior and interior features that you want – you'll be glad you did. If you evaluate home exterior and interior must-haves, you can create priorities as you search for your dream house.
For instance, buying a house that features a central air unit may be a top priority if you plan to relocate to a warm-weather region. On the other hand, you might want to purchase a house that features an in-ground swimming pool, but you can live without this outdoor amenity if necessary.
A homebuying wish list is essential, regardless of where you choose to pursue houses. In addition, if you require extra help as you get ready to enter the housing market, you may want to employ a real estate agent.
With a real estate agent at your side, you can boost your chances of acquiring a top-notch house at a budget-friendly price. A real estate agent will allocate the necessary time and resources to learn about your homebuying goals. Then, this housing market professional can help you streamline your home search.
Furthermore, a real estate agent will provide expert assistance throughout the homebuying journey. He or she will set up home showings, help you submit offers on homes and handle homebuying negotiations. And if you ever have homebuying questions, a real estate agent is happy to respond to them at any time.
Make your dream of purchasing a home come true – consider the aforementioned factors, and you can create a wish list to help you accomplish your homebuying goals.
Ready to purchase your dream home? Before you finalize a home purchase, it may be worthwhile to schedule a home appraisal.
With a home appraisal, a property expert will examine a residence both inside and out. The home appraiser then will offer a property valuation.
In some instances, a home offer may be appraisal-contingent. And if the home appraisal valuation falls below the amount of a buyer's offer, the buyer may request a renegotiated price.
A home appraisal may prove to be an important part of the homebuying process. As such, it is paramount for homebuyers to understand what an appraisal is all about and determine whether to conduct an appraisal.
To better understand home appraisals, let's take a look at three home appraisal facts that every homebuyer needs to consider.
1. An appraiser's valuation is his or her opinion of what a residence is worth.
Typically, a home appraiser will use a broad assortment of housing market data as part of a home assessment. The appraiser also will look closely at a residence as part of the home evaluation process.
Although a home appraisal is based on housing market data and a home assessment, it is essential to note that a home valuation is an appraiser's opinion. Therefore, two home appraisers may examine the same housing market data and the same house and come up with two different home valuations.
2. The homes in a neighborhood may affect the valuation of a residence.
Believe it or not, a home's value may be impacted by those around it. Thus, if you intend to buy a home, it often pays to evaluate the neighborhood to better understand whether a house's value will decline, stay the same or increase over time.
Furthermore, what you spend to improve a house is unlikely to raise a house's value proportionately. And if you spend $20,000 on home improvements, there are no guarantees that these home improvements will add $20,000 to a home's valuation.
3. A home appraisal and a home inspection are two very different things.
A home inspection often is considered a must-have during the homebuying process, and perhaps it is easy to understand why.
During a home inspection, a property expert will ensure there are no structural issues with a home and identify any problem areas. Then, a homebuyer can move forward with a home purchase, rescind a home offer or submit a counter proposal based on a home inspection report.
On the other hand, a home appraisal enables a property expert to evaluate the house in its current state. A home appraiser will compare and contrast a home in relation to others in the area and offer a valuation.
If you need help determining whether to conduct a home appraisal, a real estate agent is happy to assist you. With a real estate agent at your side, you can determine whether to set up a home appraisal prior to finalizing a home purchase.
Let's face it – there is no shortage of buyers competing for the top residences. However, there are many things you can do to rise above the homebuying competition, and these include:
1. Review the Local Housing Market
The housing market fluctuates. In some instances, the housing market may favor buyers. Or, in other cases, it may favor sellers.
If you analyze the local housing market closely, you can differentiate a buyer's market from a seller's market. You then can map out your homebuying journey accordingly.
To distinguish a buyer's market from a seller's market, you may want to look at available houses in your city or town. If homes are selling just days after they become available, a seller's market may be in place. Comparatively, if houses linger on the real estate market for an extended period of time, the real estate sector likely favors buyers.
2. Get Pre-Approved for a Mortgage
With pre-approval for a mortgage, you will know how much you can spend on a house. Then, you can narrow your house search to residences that fall within your price range.
To get pre-approved for a mortgage, you should meet with a variety of lenders. These financial institutions can teach you about many mortgage options and help you choose home financing that suits you perfectly.
Of course, selecting a mortgage can be difficult, regardless of whether you are a first-time or experienced homebuyer. But if you ask mortgage questions and perform a comprehensive home financing analysis, you can choose the right mortgage without delay.
3. Establish Homebuying Criteria
Homebuying criteria is a must, particularly for those who want to seamlessly navigate the property buying journey. Because if you enter the real estate market with homebuying criteria in hand, you can speed up the process of finding your dream residence.
As you craft homebuying criteria, you should try to define your dream house. Think about the features you want to find in a home. You next can include these features as "must-haves" on your list of homebuying criteria.
In addition, consider where you want to reside. If you hone your house search to residences in a select group of cities and towns, you may be able to quickly discover a great home that you can enjoy for years to come.
For those who require extra help during the homebuying journey, you may want to hire a real estate agent, too. In fact, with a real estate agent at your side, you can receive in-depth assistance as you pursue your ideal house.
A real estate agent understands what it takes to navigate any housing market, at any time. He or she will help you search for residences that match your expectations. Plus, if you have any homebuying concerns, a real estate agent will address them right away.
Gain a competitive advantage over rival homebuyers – use the aforementioned tips, and you accelerate the process of finding and purchasing your dream residence.