If you’re planning on purchasing a home in the East Sacramento and Midtown Sacramento area, here’s a quick run-down on some of the things that you’ll want to keep in mind – including the best practices that you should definitely consider and how to avoid the common mistakes many buyers make.
Hire a REALTOR. Don’t you want to have a trustworthy and experienced real estate agent by your side to guide you throughout the home-buying process? The right Realtor will have a high level of knowledge when it comes to real estate investment, they are also an invaluable ally at the negotiation table and they will advise you on how best to evaluate each property and how to make a compelling offer. Your real estate agent may also be able to give you access to exclusive listings that are not on the Multiple Listing Service.
Make sure you have a clear picture of where you stand financially. If you haven’t yet, create a budget. Take into account everything – from all the other loans you’re paying down to what your monthly expenses are. It’s also a good idea to look into the costs of homeownership; find out how much property taxes and association fees are and know what you’d be advised to set aside for emergency repairs, etc.
Get to know the property and the neighborhood. Don’t forget to do your due diligence not just on the house itself, but also on where it’s located.
Common Mistakes to Avoid
Making a decision too soon. Avoid making the mistake of purchasing the first house you “fall in love” with. Buying a home can be an emotional process, and sometimes you may get the urge to get it over with and just make an offer immediately. Pause and take a breath. Consult with your Realtor and take the time to check out all the homes on your shortlist.
Skipping or delaying inspections. A home inspection is a typical contingency in a purchase contract. There are times when one general inspection isn’t enough, however – so if your home inspector advises you to consult a specialist, do so. And don’t delay, especially if your contract has a specified contingency period.
Thinking that the most expensive home is the best home. Don’t let those staggering home prices fool you into thinking that you’re paying for something that is the best that the market has to offer. Don’t let a high price fool you into feeling that something so expensive must be worth it, or that you’re paying for something of better quality. You will want to carefully compare it to similar properties in the neighborhood you’re eyeing.
Thinking of buying a home in East Sac or Midtown? Let me help you navigate the market – get in touch with me today!