Mark F. Howells

Tips For Buyers

No one wants to contract a case of buyer's remorse. It is that feeling that you've either paid too much or received too little.

If no one wants to catch a case of buyer's remorse; how do you prevent it? The answer is simple, most of these people engaged in a transaction without enough knowledge and information. Be analytical; search for a home that fits your needs and circumstances. Be emotional; remember you're buying a home not a house. Be reasonable; balance analytical with emotional and you will have your perfect home.

• Get help. In order to make sure that the transaction goes smoothly it is of vital importance that you choose the right agent to represent your interests.
• Get pre-approved. A strong pre-approval involves a credit check, loan application, verifications, tax returns, etc. There is nothing more frustrating than looking for a home, finding the perfect home, and then discovering that it is out of your price range. Speak with lenders to learn about the different financing options available to you. A strong pre-approval makes your negotiation stance stronger with sellers.
• Avoid major purchases. In order to determine the amount of home you can afford a lender uses your debt-to-income ratio. This ratio is the percentage of your pre-tax income that you spend on debt. Your debt ratio will include: monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt right before buying a home it is going to have an impact on the amount of the loan that the lender will finance.
• Sign up for Property Watch. In order to make an educated decision you need to know what is available and how much it is going for. You can browse all the active listings from my website. Once you have found some homes you like save those searches and sign up for property watch so that new listings will be emailed to you. The best homes move fast so you need to make sure that you are on top of the available inventory at all times so you do not miss out.
• Ask Questions. If you find out the seller's motivation for selling you might be able to negotiate a better deal on the home. Try to find out the last time service was performed on the roof, furnace, and water heating. Asking the right questions now can end up saving you a lot of money in the long run.
• Be Sure To Get Home Inspections. The last thing you want to discover after you have bought a home is that you have purchased a "money pit". By "money pit" I am referring to a home that is full of defects that are going to end up costing you a lot of money. Save yourself a lot of time in future litigation and renovation by bringing in licensed home inspectors before you buy. If any problems are found it will steer you away from a bad decision or help you negotiate a better price.