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Top Ten Ways to Take the Trauma Out of Home Buying

February 29, 2008

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1. Work with a professional and experienced Buyer’s Agent. Let my 35 years of brokerage experience work for you. Home buying is not only a large financial commitment, but also an emotional one. It’s critical that the agent you choose is both skilled and a good fit for your personality.
2. There is no “right” time to buy. If you find a home now, don’t try to second guess interest rates or the housing market by waiting. Changes don’t occur quickly enough to make a significant difference in the total price, especially if you will be in your home at least 3 years.
3. Don’t ask for too many outside opinions. It’s natural to want reassurance for your decision, but too much input can only confuse the situation.
4. Accept that no house is perfect. Focus on the things that are most important to you, such as schools, convenience to transportation, shopping and employment.
5. Don’t try to be a “killer negotiator”. While trying to secure the best possible price and terms is important, be sure you don’t lose the best opportunity.
6. Don’t get caught up simply in the physical details, such as kitchen, baths and room sizes, etc., of the house. Consider other factors as amenities, noise level, traffic or anything else that would impact your lifestyle in your new home.
7. Get pre-approved for your financing. A pre-approved buyer has a strong negotiation position. The strength of your purchase agreement is greatly enhanced by your preparation.
8. Factor in maintenance and decorating costs of your new home in your post-purchase budget. Regardless of the house, there will always be things you’ll want to personalize and change.
9. Accept that “buyer’s remorse” is normal, but quickly passes. The benefits of home ownership quickly outweigh any second thoughts.
10. Choose a home because you love it and it meets your individual needs, and then consider the potential appreciation. The home’s most important role is a safe and comfortable place to live.

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If you have questions about this topic or any other real estate topic, send your question to: info@NewHomeExecutives.com

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