Buying a home is a very complex process. An experienced real estate agent can help you with the search, comparing homes, making an offer, getting an inspection, getting repairs, and appraising. Your agent can also help you find the best value in the neighborhood you want to be in and the best quality for your budget and requirements.
The seller’s real estate broker pays your broker or agent out of the loan proceeds. If you don’t use your own agent, the seller’s broker keeps the commission, so you might as well take advantage of professional advice. Your real estate broker or agent works in your best interest, because what is best for you is best for her.
There is no such thing as the absolute perfect home. Every buyer has to recognize that there is a give and take to every buying experience. You may want a new home without the new home price tag or without a commute. You may want an older home with character, but older homes often need new carpeting or a paint job.
If you are trying to keep the budget down, you should seriously consider buying an older home. These homes need updating and are priced lower than newer homes. Look past the outdated fixtures and look at the bones of the house, such as the floor plan and dimensions. Try not to concentrate on the seller’s clutter and imagine the home with your things in it.
Cosmetic changes are relatively inexpensive, and sometimes your loan will pay for them. Your lender and you agent can help you decide what you can afford to change and your real estate agent can help you to decide if the changes needed are worth your time and money.
According to The National Association of REALTORS®, home equity beats inflation by 1-2% every year, and you also receive government subsidies such as tax relief and other incentives when you buy a home. Clearly, buying a home can be a smart long-term financial investment if you buy right. Closing and moving costs make it hard to buy and sell a home immediately for large profit, but after two or more years with no capital gains tax, you should make a profit when you sell. Your real estate agent can help you make the smart investment. Agents know the local real estate trends and what the great deals in the area are. Of course, you should not look at your house only as an investment, but as a home.