Honeownership is becoming a big deal over the decades and it's a huge investment that you would definitely affect your life. Whether you are a buyer or a seller, you need to be aware of what's happening in the real estate market to get your money's worth. Today, we present you some tips to be well-versed in the real estate world:
Starter Home for First-time Homebuyers
A research done by the National Association of Realtors shows that a majority of home sales are to expected to first-time homebuyers. Many of these will be moving fromm urban rentals. Because of this, expect competitive rates and crazy bids.
Talk about a very good time to buy a starter! If you're itching to have one, take this chance.
Hire A Reputable Agent
An agent can either create a smooth sale for you or just send thousands of dollars down the drain.
The internet has made it more easier for us to do some research on your desired agent-to-be. You can take a look at their profiles on LinkedIn and other social media. Check out reviews for you to have an idea how they work or provide services to their clients. Is the agent professional or reputable as he or she appears to be?
Make sure to interview your chosen agents personally if you can. Ask them about their experience, listings and even dumb questions to check their knowledge. An experienced real estate lawyer would know when is the best time to list the property and do an open house.
Rents are Getting Expensive
Rents are on the rise while mortgage rates seem to be steadily low. With this fact, renters can approximately meke up 37 percent of homes if they plan to stay in one location for several years after buying. However, we still need to consider the variance in renter's behavior such as their hesitation in paying upkeep and taxes.
You're Not the Owner Unless You Sign the Contract
Some of the "bad" agents might try to convince that the house is yours and plan to close the deal instantly. But, don't be easily swayed by their persuasions as you would just end up with more trouble.
Before you can say that you're the owner, you must sign a contract first. But, there are a lot of things that you need to do before closing the deal. A home inspection would always help you find out if the house has some hidden defects that the seller didn't disclose. Title insurance companies can also help you check if the title is clear of any issues.
So, try to scrutinize first before jumping the gun.
Near the Waterfront is Nice. Maybe Not.
A nice view is definitely a great addition to your property but you need to consider realities when it comes to weather and insurance. Hurricanes have brought forth destruction in several years which forced flood-insurance rates into a drastic increase.
Thousands of homeowners particularly along the Gulf Coast and East Coast are force to get flood insurance. Some sellers and agents would choose not to disclose these information so, you better get yourself educated by doing your own research.
Do Stunning Photo Shoots to Sell.
If you want to make your home attractive to buyers, do an exterior photo shoot with different sceneries. Take some photos during autumn, or during the first snow, to show how warm and cozy your house is during winter.