This is the largest financial decision you will make
This is a big decision and if you are purchasing with a spouse, agreeing on the same home can sometimes be stressful for both of you. I am here to guide you through the process, to advise you on making a smart decision financially, for your growing needs or when it comes to downsizing.
Make sure you use a Realtor you can trust.
Someone who looks out for your best interests, someone who will advocate for you, someone who watches out for you to make sure you aren’t overpaying for a home by doing a comparative analysis on the property you are interested in prior to placing an offer.
Make sure your Realtor will explain the contract to you so you can understand it and help guide you in making sure you are placing a competitive offer and with competitive terms. A contract is a legal agreement so this process needs to be understood prior to signing.
Some people think LONG term when purchasing a home.
Remember, it is an investment. It may work for you and your needs today but it may not work for you at a later time in your life. This is why it is important to make sure you have studied the area, the schools, the commute time to and from work or school. Make sure it is a home that will grow equity so when you sell at a later time, it is profitable to you and makes you feel good about your investment.
Sometimes buyers get caught up in how a home looks
Whether it needs to new paint, carpet, needs a good cleaning and lawn maintenance. Don’t get caught up in those items as all of that can be changed. I can help guide you with paint selections, carpet choices, and also provide you with the right resources of where to purchase home improvement items and the contractors to do so. Some people even get too excited when they see a home that looks like a model home but miss the homes “flaws” because they like the decor. Pay attention to areas under an area rug (maybe they are hiding a stain, a scratch in the floor, etc). I am here to ensure we are looking out for major issues such a mold growing through a wall, a soggy floor, or a possible roof leak by looking for staining on the ceiling. This is why home inspections are important. It is an extra pair of eyes on what we didn’t see and they will alert us of what is a safety issue or areas of main concern.
Make sure your Realtor will be at your home inspections.
I always recommend having the following inspections: An overall home inspection that inspects from the base of the house to the roof and all the rooms in between, a heating and air inspection, a termite inspection and you may need a pool inspection if the home comes with a pool. I also recommend a survey to be completed prior to closing to ensure a fence is on the right property line or to make sure you have enough room on the property if you want to add an addition, extra driveway or you’d like to one day put in a pool. Knowing where your property boundaries are is very important but also making sure there aren’t any easements you need to be made aware of is even more important. There may be a shared driveway, a sewer line that runs in the middle of the property where you’d like your pool, or there is an ingress/engress easement where your neighbor may have permission to use a portion of your property or driveway.
Stay within a budget you can afford.
Just because a lender says you can afford a $1600 house payment doesn’t mean you will always be able to. What if your roof needs repair or your need to purchase a car, always live within your budget to ensure you have some extra money set aside for repairs that may need to be addressed at some point during your home ownership.
Don’t go buy furniture, a new car, or open a line of credit while in the home buying process.
This small change can change your whole financial picture for purchasing a home. It can change your debt to income ratio, it can change your credit score and even worse, change a pre-approval letter into a “UN-Qualified” letter. Always, wait until you get into your home and get acclimated with the electric and utility bills before making a major purchase to ensure you aren’t feeling overwhelmed with household expenses.
Remember that if you sign a buyers agency agreement, you agreed to work with the agent that had you sign the agreement and the brokerage they work for. First time home buyers, don’t call another agent for advice if you have been working with another agent. Your agent is your best advisor. The buyers agency agreement protects you, the consumer, as well the agent that has been spending a lot of time with you showing homes, answering questions for you and being your guide in the process. This is how their brokerage gets paid, how the agent gets paid as well as to protect you from making major mistakes in the home buying process.
In some states, the buyer pays to have a buyers agent. In SC, the sellers pay the buyers agent brokerage. So, Most of the time, it doesn’t cost you anything to work with a buyer agent. Some exclusions to this rule may a For Sale by Owner. I reach out to For Sale by Owners to see if they will work with me as an agent and Yes, I have closed several For Sale by Owner transactions that didn’t cost my buyers anything to use me as their Realtor.
Model homes by builders….the agents in the model homes work for the BUILDER.
They do not represent the buyer and cannot advocate for you. The builder pays for a buyers agent to represent YOU, the consumer. Reach out to a REALTOR before walking into a model home. The Realtor can guide you through the new construction process all the way to closing and it costs you nothing to be represented.
Remember, I am Not Just a Realtor But a Resource and can send you contacts if you need a plumber, electrician, roofer, handyman, landscaper, pool installer, etc. so I am with you even after the transaction closes. I love building relationships that go beyond the transaction and I am here to serve you.
Tami Floyd, Realtor ®
EXIT REAL ESTATE CONSULTANTS
tamifloydhomes.com
(803)446-4673
tamifloydhomes@gmail.com