Trusted Tips when buying a home

Choose an experienced buyer’s agent

Many buyers make the mistake of choosing an agent who is not familiar with comparing neighborhoods. Others do not understand the realtor’s role in the buying process. Only a buyer agency contract is Wisconsin will allow an agent to fully represent a buyers interests when buying a home. A seasoned buyer’s agent is also better at pricing and can help you negotiate an offer.

Study and compare neighborhoods

It is critical to understand that location and neighborhood are important factors when determining market value. Many buyers often compare a home’s interior decor not realizing the costs of updating are minimum in comparison to how location can affect the market value of a home.

Know what resale value means

Understanding what impacts a home’s long term value is crucial when buying a home. Neighboring home values, layout, room sizes, mechanics, yard size and cost of future updates all have a direct impact on the investment return when it comes time to sell.

Imagine a home with and without furniture

It’s easy to fall in love with the furniture in a home but also important to imagine a home empty since it often has much less appeal without the furniture and artwork that isn’t sold with the house. It’s also important to envision how you will arrange and furnish your furniture. Odd floor plans can be difficult and the cost of new furniture is expensive.

Understand maintenance costs during ownership

The ownership of a home can be one of life’s most cherished memories. Many buyers, however, make the mistake of falling in love with a home only to be later overwhelmed with the costs of large ticket items, utility bills, and additional maintenance costs during home ownership. Budgeting and the proper understanding of costs upfront can alleviate stress and reduce problems with paying bills later.

Get a Home Inspection

Including a home inspection contingency when purchasing an existing or new home helps avoid unexpected costs after the sale and may uncover undiscovered issues with a home that were missed during a showing or unknown to a seller. Inspections can also help you learn about the mechanics of a home and give you tips on how to properly maintain it.

Realize buying a home is a long term investment

Purchasing a home without a commitment to ownership for an extended period of time is a bad idea in real estate since it is a long term investment. A property needs to appreciate over time to help offset maintenance costs, updates and the costs to eventually sell it. Time should also help you gain equity as you reduce the amount owed on it if you obtained a mortgage when purchasing.