Buying a home can be the single most important transaction in your lifetime. But getting to the closing can be intimidating in an ever changing and competitive market. Knowing what to look for before putting in an offer may be the difference between a financial blessing or a burden. The key is having the right agent guide you through the home buying process successfully. The Putzier Real Estate Team will help you buy a home, keeping your goals at the forefront of the transaction. If you are ready to buy a home, here are five things that you need to look for before you put in an offer. Download the buyers checklist here!
The cost of a home should be evaluated before a showing
The cost of the home you are looking to buy is the most important factor in your purchase. Every new homeowner will need to get pre-approved for a mortgage loan. You must be pre-approved for the price of the home. If you are not pre-approved for the price of the new home, you will need an adequate downpayment to cover the total at closing. Determine whether or not you will need additional funds to purchase the home and where those funds will come from. Also, keep your budget in mind. You may be approved for more than what you can actually afford. A real estate agent will help the buyer determine an affordable range to shop within. The price point for the buyer should align with their personal financial budget. Therefore, buyers should never feel pressured to buy a home outside of an affordable price point.
Consider the size of home needed now and in the future
Buying a home should be considered a long-term investment. Is the home you are looking to buy sufficient for your lifestyle? Does it have enough bedrooms for the people in your current household? Do you plan to have more children in the next 5 years? Take all of these things into consideration before you choose a home. Buying your home is a financial decision. If you need to sell the home too soon after purchasing there’s a possibility you can lose money on your investment. It is important to consider the functionality of your future home. Also consider parking, the yard, and additional needs you may need for your home.
Location, location, location
The location of your home is important for many reasons including: convenience, safety and re-sale of the home just to name a few. Here are a few things to think about before putting in your offer on a new home:
- Daily Commute
- Neighborhood Morale
- Property Values
New home buyers should determine how important each factor is and the short term and long term costs associated with each one.
Assess the condition of property before making an offer
When it comes to buying a home, buyers should consider the condition of the property. It is not uncommon for costly repairs and damages to go unnoticed until it is too late. With that said, conducting an assessment of the property can save a home buyer a lot of money in the long run. Most repairs and damages may be addressed by the current homeowners before closing, saving you as the new buyer money. Oftentimes, buyers will rely on the inspection to catch necessary repairs. While the inspection is important and can be the best way to find a problem, buyers should take it upon themselves to assess the property. A realtor can assist you with this and may help you find things you never would have thought to look for. Here are a few things you can check for functionality and damages:
- Faucets and drains
- Moisture in Basements
- Age of the water heater
- Undesired smells
- Pet stains or damage
- Up to date electrical and outlets
- 12 months of utility bill history
Also, be sure to look in closets, cupboards, under furniture and rugs, and behind doors.
Buy a home and make it your own
The greatest reward of buying a home is the ability to make it your own. While some home buyers need a home that is move-in ready, others will see the structure and have a vision to make it their own. Cosmetic repairs can be time consuming and costly. Before you choose a home that needs a face lift, take some time to get quotes from local contractors to determine how much you will need to invest above your offer. If you plan to do the updates yourself, you should research the associated time and cost to ensure you have the time and money to remodel the home.
Buy a home in Casper, Wyoming
The Putzier Real Estate Team is dedicated to providing industry-leading expertise coupled with 20 years of combined real estate experience. We equip home buyers and sellers to make educated real estate decisions: empowering them to achieve their real estate goals and dreams. Visit our favorite local lenders to get pre-approved and let’s shop Casper homes for sale. Contact Justin and Charlotte Putzier at 307-259-4440 to make an offer.