Leave a Message

Thank you for your message. I will be in touch with you shortly.

4 Questions to Ask Before Buying a Home

Tara Knight September 6, 2024

Whether you’re a first-time homebuyer or a seasoned real estate investor, buying a home is an exciting process. However, there’s also a lot to consider when you decide to buy. So before you begin your search for the perfect property, here are four questions you should ask yourself.

What do I want?

Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs. Figuring out the town or neighborhood you want to live in is equally important. While a property might have all of the amenities you’re looking for, factors like crime rate and proximity to highways can impact the overall home-owning experience. A good idea is to list out and prioritize your needs (e.g. large backyard, great school system) before you begin your search.

What can I afford?

The rule of thumb is that you should never spend more than 30% of your monthly income on a mortgage payment. An alternate rule states that you can afford to buy a property that runs about two-and-a-half times your annual salary. For a more tailored look at what you can afford, use an online mortgage calculator to see what your monthly mortgage payments would be if you bought a home today.

Am I financially prepared?

A few months before you start searching for a home, review your credit history and make sure it is in good standing. Get copies of your credit report, ensure that it’s accurate, and fix any issues you discover. It’s likely that you’ll also want to get pre-approved for a home loan, which will put you in a better position to make a serious offer once you find the right property. Pre-approval from a lender is based on your credit history, debt, and income.

How do I make the best bid possible?

Do your research! Your opening bid should be based on the sales trends of similar homes in the area. So before making your opening bid, get online and review the selling prices of comparable properties. If these properties sold for less than the current asking price of the home you’re looking at, you can feel comfortable make a bid that’s slightly lower than what the seller is asking.


Recent Blog Posts

4 Questions to Ask Before Buying a Home

September 6, 2024

Buying a home is an exciting process. However, there’s also a lot to consider when you decide to buy.

The First-Time Buyer's Guide to Choosing the Perfect Property

August 20, 2024

To avoid that unfortunate scenario, first-time buyers will need to think carefully and weigh all of their options.

Tips for Selling Your House as Fast as Possible

August 6, 2024

We’ll guide you through everything you need to know about how to sell fast before you even have to talk to an agent.

How To Pick A Neighborhood

July 23, 2024

Once you’ve outlined the criteria you require in a home, start taking to agents about which neighborhoods meet your needs better than others.

12 (Affordable!) Decorative Items to Buy Before You Sell Your House

July 4, 2024

Assuming you’ve done the deep cleaning and decluttering, consider adding these items to your shopping list.

9 Types of Mortgage Loan to Consider

June 20, 2024

If you’ve never bought a home before, the sheer number of mortgage loan options can be overwhelming.

Market – A Quick Guide to Understanding the Housing Market

June 4, 2024

You hear it on the news all the time: “It’s a buyer’s market,” “It’s a seller’s market,” or “The housing market is on the rebound.”

Components to Add to Your 2020 Real Estate Business Plan

May 21, 2024

Even if your plan has been finalized for months, though, there might be some components you could add to make it even better.

23 Common Staging Mistakes Sellers Make

May 7, 2024

When you miss an opportunity to add plants or flowers, you’re missing out on the chance for your house to feel vibrant and alive. 

Work With Tara

Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact me today.