When looking for your new house, make sure to take into consideration how long you plan to stay there. Determine whether you are more comfortable living on the beachfront, the bayfront, in-between in South Padre Island, or on the mainland in Port Isabel, Laguna Vista, or Bayview. The price will fluctuate based on location. The good news is that no matter where you choose in the Laguna Madre area, the beach and bay are close by. –House Logic
Searching for the right home is just like any other shopping trip. You should know the exact things that you are looking for and your home hunting experience will be a lot easier and fruitful. Knowing the things that you want and need will give you nothing but the best options in the real estate market.
Here are 8 useful tips to guide you on your home buying process.
- Know thyself
Make sure that the type of home that you’re looking for fits your personality. Some questions will come up like: Do you prefer a new or existing home? Would you like a ranch over a 2-storey home? Do you want a beachfront condo or a new home in the city?
- Research before you look
Knowing your options will give you broader options. List the features, locations, amenities, etc you want in a home and spot the difference between necessities and extras. Check the neighborhoods around your preferred location and consider commute time, schools, recreation, crime, and price. Then hop onto www.PadreRealEstate.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results that you’ve gathered to make a priority list. Then you can start checking out these properties according to their priority level.
- Get your finances in order
We always hear lenders telling buyers that they can purchase homes which are priced twice or thrice their gross income. You can use this information to create a budget so you’ll know how much you’re comfortable spending for monthly mortgage. Investigate financing first before you start looking in order to save your time and efforts.
Consult a lender to make a clear figure of how much you can borrow. Bring your financial records when meeting with a lender to get the prequalification process smooth. Some lender won’t consider extra fees that you’ll have to shell out so create a budget plan which you are comfortable with. Having a financing contingent on your offer will most likely be a big turn off to sellers make your plan realistic and considerable.
- Set a moving timeline
Consider the following when making a timeline: credit score, a home listed on the market, until when is your lease dues etc. These factors may affect your buying, closing, and moving timelines in one way or another so plan carefully.
- Think long term
The perfect type of home to buy can also be determined by your future plans. Do you plan to move after a couple of years or do you plan to stay until you get married and have children? Does your work require you to migrate every two or three years or do you plan to study abroad? Be sure to have a list that considers your long-term plan to get a worth it purchase.
- Work with a REALTOR®
The best real estate professionals to work with are those referred by your friends and family. If their testimonials are not enough, take the time to interview the real estate agent about their expertise and professional qualifications. Working with a real estate agent that fits your personality can lessen the stress the whole buying or selling process can give.
- Be realistic
It’s totally fine to be picky about the type of home, amenities, and neighborhood you want to live in but don’t be close-minded, unrealistic or blinded by minor imperfections. Explore as much as you want. Make sure that you don’t miss better homes because you are concentrating too much on a certain type of home.
On the other hand, don’t forget your priorities because of the WOW factor that home stagings may give, you may miss out other issues and worst, you may forget the main reason you are purchasing that home.
- Limit the opinions you solicit
Always prioritize your wants and needs on buying a house. It is okay to seek opinions from experts but limit them to those who really understands and considers your priorities. This way, you won’t be confused on making your final decision.