Having your first experience in residential real estate? Well, you’re not alone: statistics tell us that first time home buyers comprise nearly half of the entire buying pool. Typically, first time buyers average about 30 years old, while second timers are in their early 50’s, making the approximate time most people spend in that first home around twelve years. It’s also documented that people are more willing to consider changing the desired size of their home before they’ll compromise their proximity to the best school systems, so first time home buyers are generally looking into residential real estate with the idea of starting families. Here are three basic ideas to keep in mind while thinking about buying your dream house:
Check Out Multiple Neighborhoods
You might think you know an area, but keep your mind open. Some of the best housing deals are in areas that are becoming more popular but remain “kept secrets,” which also allows you to get in on something that will likely increase in value. Your real estate agent will probably have some listings that seem like long shots to you or aren’t smack in the locale you’d decided on, but don’t let your mind close to possibility: let them show you what they’ve got.
Hold Your Cards Close
Communication is definitely a large part of working with a Realtor, but try not to be too transparent. Strange things can happen when you show too much emotion. For instance, if you make a big show of how much you want a particular house, this could end up costing you money. There’s no need to be difficult or shady, but by the same token, you needn’t be an open book either. Everybody has an agenda in the home buyers market – keep yours front and center since everybody else will be doing the same. That’s not to say that real estate agent’s aren’t looking to help you: the best one’s certainly are. But they’re also making a living.
It’s an Investment
What might seem like a statement of the obvious actually can’t be stressed enough. It’s so easy to lose sight of what’s mainly important here, i.e., for you to purchase a home you’re going to love living in that will also at least maintain it’s value over a decade or more. Keep your eye on the prize and don’t let anyone box you into a corner. Specific individual constraints aside, if you can’t find a house that suits you from the “dream homes” you get shown, it’s not the end of the world: just keep looking. There’s always plenty more residential real estate out there.
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