Take the Stress Out of Homebuying

1. Find a real estate agent who you connect with.

Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the agent you chose is both highly skilled and a good fit with your personality. E Team has several agents on their team that are highly qualified and ready to help. Feel free to speak with a few of our agents until you find the right chemistry.

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell.

If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

Admitedly, it's tricky. Just like other investments like stocks and mutual funds, it is extremely difficult to "time the market" perfectly. In reality, real estate is a cycle of highs and lows. The greatest risk you will face is if you try to sell your home prematurely. As a general rule of thumb, look at each home with the perspective that you will stay in the home a minimum of 5 years.

3. Don’t ask for too many opinions.

It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

Remember, everyone has a story -- usually a bad one -- they are all too eager to share with you. However, their circumstances are not yours. While some people have some good insights, too many stories from outsiders can send you into a tailspin of confusion.

4. Accept that no house is ever perfect.

If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

Here's a good approach, start your search with your ideal parameters in place. It will be a very small subset of all the homes available. Then determine which criteria can be compromised. One by one, increase your sphere of possibilities until you narrow it down to your top 3 homes. Then you can vigorously debate the pros and cons of these homes.

5. Don’t try to be a killer negotiator.

Negotiation is definitely a part of the real estate process, it is one of our strongest qualities. However, too often we see clients determined that they are going to “win” by getting an extra-low price or by refusing to budge on their offer. More often than not, it cost them the home they loved.

Remember, negotiation is give and take. Put yourself in the Seller's shoes. How would you respond to your offer?

6. Remember your home doesn’t exist in a vacuum.

Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important elements likes noise level, location to amenities (grocery stores, gas stations, schools), and other aspects that also have a big impact on your quality of life.

When you are looking at homes, concentrate on those elements that cannot be changed. We tell our clients all the time, there will come a time when the romance of your new home wears off and you will be left with the reality of the daily routine. You will realize how important those unchangeable elements really are.

7. Plan ahead.

Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

In fact, this is an area where we do not compromise. It is imperative that you know for sure you can qualify for the home you want. You are in for some serious heartbreak otherwise.

8. Factor in maintenance and repair costs in your post-home buying budget.

Even if you buy a new home, there will be costs (window coverings are not cheap!). Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass.

Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation.

While U.S. homes have historically appreciated very well, a home’s most important role is to serve as a comfortable, safe place to live. Again, it is nearly impossible to time the market. In general, if you stay in your house long enough you home will most likely appreciate at an acceptable rate.