Planning your Home-Buying Strategy
The key to reducing the stress and successfully finding the home that matches your wants, needs, and budget is to have a home-buying strategy.
A home-buying strategy serves to keep you focused, in line with your goals, and on financial track.
It contains the important tasks, outlines your objectives in buying a home, your must-haves in a home, your financial budget, your move-in timeframe, location, desires, and more.
It may sound like a lot of work but if you take the time to put together a home-buying strategy and then share it with your real estate agent, you'll find that the clear goals you have will bring you closer to finding exactly what you're looking for and, likely, in a shorter period of time.
Putting together your home-buying strategy: In previous columns, I've written about getting organized for your move by organizing a binder that holds your vital paperwork and any materials that you'll immediately need during the moving process.
Organizing your home-buying strategy works in a similar way.
You'll start by taking inventory of the home you currently live in.
Even if you keep digital files, also keep the binder handy as your agent will give you lots of paperwork and having it all in one place will be a big relief when it comes time to find a particular document.
Do this before you start to physically go out and look for homes.
Sure, seeing lots of different homes can be fun but seeing homes that you don't qualify for is a lesson in frustration for all.
Separate sections with tabs and label them things like: budget, favorites, neighborhood, comps.
The "Budget" section clearly has the defined price point that you are comfortable with.
Surprisingly, some buyers start their shopping without giving careful consideration to this and they wind up frustrated because they're not certain how much home they can afford.
Source: Realtytimes.com
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