Purchasing a home is one of the most significant decisions you will ever make. It is a significant investment in your future and prevents you from throwing money away on rent each month. Whether you are buying your first home or your fifth, it is important to know what to look for and how to go about the process so you end up with a home that you love.
For buyers in Exton, PA, there are many beautiful properties to choose from for your next home. But moving on to the next phase of your life is not a simple process. There are a lot of details to hammer out and factors to consider when looking for a new home. Even for previous homeowners, the process can be overwhelming.
Having a plan when it comes time to start looking for your next home is the best way to foster a smooth experience. Here are several tips that can help buyers navigate the purchase of a home and have a better chance of finding the ideal property.
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Don’t Waive the Inspection
Housing prices soared in recent years, and one of the side effects of this trend was buyers choosing to waive the home inspection to help lower the price a little bit. This could be a very costly decision. Paying for a home inspection is worth the price because it can catch minor and major issues with the property that you may not have the eye to notice yourself. What if there is a much-needed repair that is ignored and ends up costing you thousands of dollars when something critical breaks shortly after move-in? Even if it saves you some money on the price of the home and closing costs, do not skip the inspection because it is a vital part of the process that protects buyers from risky investments.
Get Pre-Approved for a Loan
Most home buyers must take out a mortgage loan to afford a new house. There are multiple benefits to getting pre-approved for a mortgage with a lender before you start house-hunting. First, it will shorten the closing process so you can move in sooner. Second, it gives you more negotiating power with the seller as they will see that you are serious about buying a home. Third, it ensures that you can afford homes at a certain price since the lender will delve into your financials to make sure you will be able to make payments. Pre-approval can make it easier for you to find the home you want and quickly put in an offer.
Research Outdated Trends
Something that can be helpful for buyers to know is outdated trends or building materials. Though a home inspection may not determine that these are issues for the home, they could indicate future maintenance problems. For example, homes in Exton in need of stucco remediation could be susceptible to water damage because of this older building material. Also, pipes in the home that are made of outdated materials could be prone to rust or degradation, which could become a problem years from now. Popcorn ceilings are often found in older constructions, and that could be something you would have to deal with if you dislike the aesthetic effect. Looking out for some of these older trends or building materials will give you a sense of the property’s condition and what changes you may have to make for aesthetic or maintenance reasons.
List Out Your Needs Beforehand
While casually browsing the listings online is a great way to help you determine what your interests are, scheduling home visits is a big step toward purchasing your home. Before you start heading to open houses, come up with a list of what you want to see in your next home. Are you hoping to buy a new construction townhome or a previously owned single-family home? How many bathrooms can support your family? Do you need a downstairs bedroom? Does yard size matter? Is the Exton location ideal for nearby schools, shopping, and commuting to work? Going into the house-hunting stage becomes much simpler when you know what you need, so write a list of non-negotiables and “nice-to-haves” before you get started to guide your decisions.
The More You Know, the More Success You May Have
Buyer’s remorse can be a big emotion that sets in once you have moved into your new home. It often comes with worries about hypothetical scenarios, such as “wait should we have gotten that house instead?” While you may not be able to avoid these feelings entirely, you can minimize them by doing as much research as possible before buying your home. If the entire process is well-planned, then you can have a little more confidence in your decision. The better prepared you are for buying a home, the easier it will be to transition into this new property and feel good about your purchase. Take the time needed to research, plan, write down your needs, and prepare for buying the next home so that you can experience positive emotions once the deal is done.