DO YOUR HOMEWORK – WHEN BUYING A HOUSE
In every decision, including real estate, knowledge is power. Consider these principles to protect your investment, your time, and your family.
Use a trusted friend, adviser, or family member to keep you focused and on track. Share with them your dreams, wants, and wish lists. Pick someone who is not afraid to disagree with you but will not hurt your feelings by things they point out, strengths and weaknesses of a house or location that you might not pick up on.
Use your budget to help you decide. Just because the bank says that you are approved up to a certain amount does not mean that you should spend that much on a house. Carefully study your budget, your income and expenses. Write it out on paper. You may love the house, but if you are stressed out over finances at the end of every month trying to make ends meet, that stress will far outweigh the pleasure that you get from having more cabinets in the kitchen or a bigger walk-in closet. Buy within your means.
Use the things that you do not like about the house as a negotiating point. If the seller will discount the house you may consider having a contractor remodel those things later or doing it yourself as a project.
Use a competent real estate agent to increase your knowledge base. They have already done tons of homework and can help you make a best decision. They will give you many hours of wisdom and also are skilled in negotiating the contract.
Wagon Trail Properties
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