Home buyers are turning to their networks of family and friends as they look for a new home. The problem is that the networks of real estate agents and builders aren’t necessarily set up to help them find their dream house. This means that many prospective homeowners are either turned away from houses that meet their needs or are steered toward properties that cost more than they can afford. With some help, though, it is possible for the newest homeowners to find the house that is right for them.
When trying to choose between homes, buyers typically ask questions about their housing preferences and expectations. When it comes to home ownership, however, answers to these questions can vary widely depending on how the question is asked. Here are some common questions that home owners everywhere have been asking:
Why do I have to find the best mortgage? As the housing market has tightened, some buyers are opting for smaller, less expensive mortgages. Other homebuyers want bigger, riskier loans that will allow them to purchase bigger properties. Still others are concerned with selling their own homes in a slow market. Whatever the reason, homeowners understand that they need to make sure that they choose the right mortgage to fit their budget and their lifestyle.
Can I buy if I don’t know anyone looking for a house? In a weak economy, more sellers than buyers have been looking for their first house. Some are looking for a home within their price range. Others are simply out to sell their existing property and take advantage of the current real estate downturn. With a weak economy and the threat of foreclosures, some sellers are simply taking advantage of the current conditions and the buyers that come to them. For this very reason, it can be difficult for sellers to know if they can get a fair price for their property.
What are the top five most-wanted categories? Energy efficiency has been a hot issue in both the real estate and consumer markets over the past few years. One of the hottest deals for home buyers during those times was a LEED home (environmental building optimized design) or LEED certified (environmental buildings). As we discussed during the economic downturn, energy efficiency has been one of the top five most-wanted buyers, so if you are interested in buying a new house, these types of properties are certainly ripe for the picking.
How do I find good deals in my area? As mentioned before, sellers are feeling the pressure from foreclosures as well as from buyers who are looking to get the best deal possible. One way to help find a great bargain is to go to open houses. Open houses are usually held by real estate agents who want to show off the property they are promoting. They are happy to show you their property so you can see first hand what they have to offer.
So how do I save money with my first home buying plan? One of the best ways to save is to work on increasing your income. Some people have the idea that you can’t increase your income by more than $40k per year, but this really isn’t the case. With proper planning and creating goals you can make huge strides in increasing your income.
If you are a first-time homebuyer, what would you want in your new home? Home buyers want to find a property that will be perfect for them and their family. Many homeowners want to build equity in their home and purchase real estate within the neighborhood in which they currently live. Others want to own multiple homes so that they have a stake in multiple-family communities in the area where they live. Regardless of the reason, homeowners who know what they want and how to get it will be rewarded with finding the perfect home for them.
