Did you know that 80% homes are bought on “emotion”? Seems a little scary to make one of the most important financial decisions of your life with “emotion” as a factor. One of the best ways to substantially reduce this “emotion” factor is to hire a real estate professional.
We tend to let our emotions take control when we walk into a beautiful home that seems to be perfect for the buyer and/or their family. It feels comfortable, is the right size, has the bedrooms or additional rooms we are looking for, and seems to be priced reasonably and so on.
If you have a family with children, schools are an important part of your buying decision. It is very important to follow through with the knowledge your real estate agent provides to you. Go visit the school where your child would be attending. Talk to the Principle, look at test scores and most importantly verify that the school boundaries are not changing anytime soon. School boundaries do change in an ongoing growing city or community.
Here are a few of the concerns you should also consider that could affect the current or future value of the home. These all play a role in location, location, and location. They might include:
1. Power Lines
2. Airport Noise
3. Privacy of the backyard
4. Major or Interior Road behind the property
5. Sun exposure of the property
There are many other things to consider that your real estate agent should bring to your attention. You should be provided with a pamphlet that will provide all other concerns you might have such as crime, pest infestation, mold, etc.
Of course not paying over market value is extremely important. The buyer is usually protected by the appraisal. If the home appraises for less than your offer then you are able to re-negotiate the contract with the seller or walk away. Be sure to review the comparable sales that your agent will provide to you. Be sure the recent sales are in the immediate neighborhood, not over 6 months old and are similar in square footage and bedrooms.
All of this information is a lot to take in and another reason why you should hire a real estate professional. Be sure the real estate is professional and exclusively represents YOU, the buyer and not the seller. Be sure they have years of experience in real estate. Look for realtors with designations such as ABR (Accredited Buyer Representative) or CRS (Certified Residential Specialist). This is a good sign they have that experience.
Buying a home should and can be a very enjoyable and stress-less experience. You should be emotional and excited but be thorough in your decision making.