For most, the amount spent buying a house will be the largest purchase in their lifetime.
So, it only makes sense they will try to get the best deal they possibly can.
Here are four things you can do to make sure you are getting a good deal on a house, potentially saving hundreds – sometimes thousands – of dollars.
Don’t buy a home if you don’t love it
Fear of missing out is a common pitfall new homebuyers fall into, especially if the market is hot.
However, making major compromises when buying a house can cost you big time.
Take your time and make sure you will love this home and live in it for a long time.
Why?
Because in the first few years of your mortgage, only a small portion of your monthly payments will be paying off the principal of your loan.
So if you buy a home and decide it’s not what you need within a year or two, you could actually lose all the equity you’ve accumulated because of the fees from selling a recently-purchased home and buying another.
Choose a realtor you can trust
When you go to choose a real estate agent, make sure it’s someone you think will help you choose the right house for you.
Someone who will tell you if you would be getting a good deal on a house or not. An agent who won’t pressure you into making a hurried decision.
How can you do this?
Most people ask their friends which real estate agent they use. You can also check the agent’s reviews on Google or Facebook.
Another thing to consider is how long the agent has been in business in the area you are looking for homes.
For example, Partin Real Estate (formerly Hoover and Associates) has agents that have been buying and selling homes in the Bolivar area for over 30 years.
Agents like that know the area well and can tell you how values have fluctuated over the years.
Don’t blow all of your budget
There will be temptation to spend the maximum amount your bank will lend you for a home.
However, things happen. You might have a medical emergency that leaves you unable to work for a period of time. You might get laid off. Something crazy like, I don’t know, a global pandemic shuts everything down.
You want to make sure you have a payment you can easily handle from month-to-month that possibly allows for you to save in case of these emergencies.
By being careful not to overextend yourself, you might see homes in a new light and make more informed decisions based on value.
Don’t rush to buy a house
You might be tired of paying rent for a small apartment not worth what you’re spending. It might be exciting to start building equity.
However, like we said earlier, rushing can cost you down the road.
You don’t want to have to buy another house just a couple years later.
You also don’t want to overpay for the house or assume those minor flaws aren’t, in fact, very costly repairs.
All of this might actually be more expensive than just staying in your rental arrangement for just a few months longer.
Buy a home in Bolivar with Partin Real Estate
Our mission at Partin Real Estate is to use the honest approach in every transaction and interaction we have.
That’s why we have agents who have been successful helping families in Bolivar and the Southwest Missouri Ozarks buy and sell homes for over 30 years.
Give us a call or fill out one of our forms to get help finding a good deal on your new home.
