I came across a great article that provides some great insider tips that can help you make decisions at any phase of the home buying process! So when you are thinking about buying a home in St. Charles or St. Louis County, please keep these in mind.
Buying a home is a process that can take months to happen. It's important to recognize this process and key considerations along the way.
Stage One: Deciding if is time to buy – Affordability is high, but don't make the decision just based on the market. Personal considerations such as you life plans, family plans, career plans and financial plans should really be the driver in decision making.
Stage Two: Getting Pre-Approved for your Mortgage – Work with a mortgage broker referred by your real estate agent
Stage Three: House Hunting – it's not always the case that foreclosed homes or short sales – homes which are being sold for less than what the seller owes on their mortgage(s) – offer the buyer a fabulous discount. You can sometimes negotiate a better deal with an individual seller on a "regular" sale than with a bank on a distressed home sale.
Stage Four: Negotiations – Everyone seems to be an armchair economist/real estate savant. Don't let your family and friends can cause you to lose your dream home. Work with your real estate broker or agent to develop a smart strategy – with their experience in your local market – about what price and terms to offer.
Stage Five: Escrow, Inspections and Underwriting: Please attend your home inspections. Home inspectors can help you understand the details and nuances of the home's features and condition, where you're going to require maintenance, can help you understand the costs of the repairs, and refer you to contractors that they trust.
Buying a home is an exciting time and a wonderful opportunity. Working with a real estate expert can make it a much easier and less scary endeavor, and can likely help to save you money and headaches down the road.
If you're thinking about buying or selling a home, call me and "I'll get you moving!".
Read the full article Surprising Insider Secrets for the 5 Stages of Buying Your First Home