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4 Qualities to Look for When Buying a Home

Fri, 20 May 2022 18:17:31 GMT

Buying a house can be an exciting adventure into the next chapter of your life, but it’s often a confusing, overwhelming process. Some buyers feel paralyzed by the options available, especially in a hot housing market that requires fast decision-making. Staying focused on the most important elements of each property will help you sift through the options to find a home you’ll love for years to come.

What to Look for When Buying a House

1. Square Footage

The size of the home is one of the most important factors that determines your comfort in the long term. A house that’s too small will begin to feel cramped fairly quickly, so you might find yourself putting it back on the market in just a few years. Realistically figure out how much space you need, taking into account your hobbies, furniture, and whether you plan on adding to your family soon.

Along with the square footage, determine how many rooms you’ll want. Do you need a master suite or a half-bath in the shared living space. Figuring out what you need in advance will make your house hunting project easier.

2. Location

The ideal home an hour away from work or in a loud neighborhood will quickly lead to buyer’s remorse. While the house itself is important, the location can be even more vital to your happiness in the long term.

When touring neighborhoods, make the drive to your workplace a few times to gauge the traffic levels. Visiting the neighborhood at night on the weekend will also give you an idea of the noise levels and whether you’ll be comfortable there.

3. The Yard

While almost every aspect of the home can be altered in a renovation, you can’t really change the size of the yard. If you don’t spend much time outside or don’t have pets, a small space might fit your needs perfectly. However, if you love entertaining outdoors, have small children, or love dogs, holding out for a larger yard may be worthwhile.

4. Price

As important as these other elements may be, price is an overriding factor for many home buyers. Buying a house in your price range may involve making some sacrifices. For instance, you may have to give up some square footage or a big yard to live in your ideal neighborhood. Or you might choose to add a few minutes to your commute in exchange for a larger home.

If you’re planning to buy a house in the Chattanooga area, trust REthink Luxury to help you find the home of your dreams. They pride themselves on providing customized service to every client, and never rely on cookie-cutter solutions. Visit their website to browse properties for sale, get tips and advice on Facebook , or call (423) 653-0705 to discuss your dream home with a member of their team.

How to Buy a House When You’re Single

Tue, 12 Apr 2022 18:17:56 GMT

Buying a house can seem like a lofty goal for renters, especially if you’re single. However, with careful planning and making use of all available resources, you can accomplish your dream of being a homeowner on your own. Follow the advice below to take the first step towards your first home.

A Guide to Home Buying for Single People

How Can You Budget Realistically?

The biggest obstacle renters face is saving enough for a down payment. It can be challenging to put aside money when a good chunk of your paycheck goes towards rent and other living expenses, but if you have a stable job and steady income, smart budgeting is possible.

In all likelihood, you’ll need to make some sacrifices. If you were thinking of getting the latest smartphone or laptop, consider putting it off, if possible. Likewise, try to hold onto your current vehicle as long as you can. Other areas you can cut back on include concerts, sporting events, theater tickets, and streaming services.

Commit to setting aside a certain percentage of every paycheck. To do this effectively, you’ll need to know how much you should save. Most people rely on a mortgage to buy a house, so in this case, your savings will be going towards a down payment, closing costs, and emergencies.

What Are Some Obstacles You May Face?

Being a single buyer comes with unique hurdles, but every problem has a solution. Here are some issues you might face and how you can overcome them:

Down Payments:

Saving up for a down payment can seem unmanageable for a single income, but there are different programs you can look into. For example, a Federal Housing Administration (FHA) loan is ideal for single and low-income buyers. These offer lower down payment options and more lenient credit requirements.

Debts:

It can be difficult to get a mortgage on a single income when you have a significant amount of debt. Focus on paying off student loans, credit card debt, auto loans, and anything else you owe. The lower your debt-to-income ratio, the more trustworthy you are to lenders, which may mean a lower interest rate.

Approval:

Single home buyers sometimes have trouble getting approved for a loan. Having a co-signer may improve your chances of eligibility. It is important to note that this co-signer will also become responsible for the loan, meaning if you miss a payment, it will affect their credit in addition to yours. They must also take on the burden of the mortgage if you stop paying altogether. Because it is a significant risk, co-signers are typically close family members.

When you’re ready to buy a house for the first time, turn to REthink Luxury . Located in Chattanooga, TN, and serving the Hamilton County area, this real estate agency goes above and beyond to make the home buying process as stress-free as possible. Their experienced team will walk you through all of your options, find a listing that meets your needs and get you the best deal. Browse the current listing online or call (423) 653-0705 to discuss your vision with a real estate agent.

5 Factors to Keep in Mind While Viewing Homes

Thu, 17 Mar 2022 18:18:19 GMT

Before you buy a house , you’ll likely visit several options to find the one that best suits your needs. While every buyer's needs and wants will be different, certain factors are important for almost every home purchase. Here are some to remember as you start going on tours.

Important Considerations When Viewing Potential New Homes

1. Location

Before arriving at the house, pay attention to the neighborhood. Are there shops, schools, or parks within a convenient distance? Think about whether you want to be within walking distance of amenities or are okay with driving. Additionally, consider the potential commute to work and whether there are alternate routes in case of bad traffic or road closures. Some buyers also look at the availability of public transit. The neighborhood is something you cannot change, so be sure it works for your family's lifestyle.

2. Outdoor Space

Yard size is another factor that typically cannot change due to property lines, so spend some time outside and discuss whether the space is likely to work for your family. If you have kids or dogs, a large outdoor area that can be fenced off may be essential. However, if you prefer less maintenance, a smaller yard may be ideal. Think about the placement of trees on the property as well to ensure you're happy with the balance between safety and privacy.

3. Foundation and Exterior

A cracked foundation, leaky roof, or damaged siding can be expensive to fix, and these issues all lead to water damage and mold over time. Be wary of obvious cracks along the foundation, missing shingles, and visible mold along the roofline and around doors and windows. A home inspector can find subtle signs of damage and provide more details about the extent of the problem.

4. Layout

The layout of a home includes the number of rooms and how well the floorplan flows. Some families prefer open concept designs so people in different areas can still communicate. However, others prefer more separation, especially between the bedrooms and shared living spaces. It is sometimes possible to knock down or add walls, but these are large projects that require extensive engineering, so it’s beneficial to find a pre-existing layout that works for your needs.

5. Plumbing, Electrical, and HVAC Systems

The home’s essential systems make a major impact on its comfort, safety, and usability. All the equipment can be repaired or replaced by licensed professionals, but these upgrades tend to be costly. If you see leaky pipes or a worn-down furnace during the tour, factor these repair or replacement costs into your offer.

If you’re ready to buy a house, contact the professionals at REthink Luxury in Chattanooga, TN. The knowledgeable team focuses on creating a low-stress experience for buyers and building lasting relationships along the way. Visit the website to browse current listings, or call (423) 653-0705 and tell the team you’re ready to buy a house.

3 Tips for Staging a Home

Thu, 10 Feb 2022 18:19:07 GMT

When it’s time to sell a house , you want to make it as appealing as possible to a wide range of prospective buyers. That is why real estate agents recommend staging your home. This process involves cleaning, decorating, and arranging a property to highlight its best features. As you prepare to sell your house, keep the following staging tips in mind to attract higher serious offers and sell your home quickly and at maximum profit.

How to Prepare for Home Staging

1. Clean Your Home Thoroughly

Before a staging expert can get to work, your home must first be completely clean. Cleanliness signals to potential buyers that you’ve taken care of your property without distracting them from the home’s most appealing features. Clean stains and patches of discoloration on the walls, floors, and ceilings first. Then, wash the windows inside and out, wipe down all surfaces and countertops, and dust high shelves and furniture.

2. Declutter and Depersonalize

When a prospective buyer visits the home, they want to envision how they might arrange or decorate the space. Clutter, even if it consists of items you use every day, is a distraction and can give visitors the wrong impression about the size of the home.

Since your belongings will need to be packed anyway, remove any nonessential items. Paperwork, out-of-season clothing, toys, and games should all be packed first. You can also turn this into an opportunity to sell, discard, or donate items that aren't needed. As a result, the home will be more appealing and the move will be easier.

3. Schedule Repairs

Minor issues like scratches, water stains, scuffed floors, and leaky taps can make it harder to sell a house, as viewers will have to factor in the cost of scheduling repairs themselves if they make an offer.

Even if the cost of repairs is minimal, this can result in lower offers, so make a list of any issues that need to be addressed and have them repaired before staging the home. Making small repairs and touch-ups will demonstrate to buyers that you’ve taken maintenance seriously and reduce the likelihood of distracting them from the space and its features.

When you’re ready to sell a house, count on the home staging experts at REthink Luxury to bring out its best features for interested buyers. Located in Chattanooga, TN, and serving Hamilton County, the team at this real estate agency will use the latest marketing and decorating research to stage your home. Visit them online to learn more about this team or call (423) 653-0705 to schedule an appointment.

3 Benefits of Investing in Commercial Real Estate

Tue, 11 Jan 2022 18:19:29 GMT

Whether you want to establish a solid foundation for your business or enhance your current revenue, commercial real estate has a lot to offer. Owning a property can provide reliable income and great benefits for years to come. If you're currently weighing your investment options, here are a few reasons to focus on commercial properties.

Why Should You Consider Purchasing Commercial Real Estate?

1. Increased Cash Flow

If you're buying a commercial property to rent it to tenants, you can look forward to enhanced cash flow as the building owner.

As tenants submit rental payments, you'll have a steady source of income. You can also use these payments to invest in other types of real estate, which will expand your revenue even further.

2. Access to Equity

As you make mortgage payments, you'll continue to build equity on the property. The more equity you have, the more you can leverage it to improve your business.

For example, you can borrow against the equity to help open other locations if the business experiences rapid growth. Equity can also be used to make repairs or renovations to your current building, helping keep customers and clients happy.

3. Tax Breaks

Real estate owners also have access to many tax breaks , which reduce your financial obligation to the IRS. For example, you can deduct interest accrued on mortgage payments. You can also write off business-related expenses.

Any supplies you use during the course of the year can be written off when filing taxes. Thanks to depreciation, you might be able to write off the cost of furniture and similar items over the course of a few years.

If you want to reap the above benefits, the first step is finding worthwhile commercial real estate. In Chattanooga, TN, the agents at REthink Luxury use their considerable knowledge of the local market to help investors make decisions. Once you find the right property, they'll help you navigate the negotiation and closing processes for a seamless transition. Schedule a consultation today by calling (423) 653-0705 , or visit the website to see the current listings.

3 Home Upgrades to Make Before Selling

Fri, 05 Nov 2021 18:19:51 GMT

When you sell a house , it's normal to want to recoup as much as you've invested in the home as possible before moving on. What’s more, it’s important to make the home attractive to potential buyers to get a good offer quickly and settle on the best price. Fortunately, the right home improvements can enhance your home’s features, improving your chances of making a deal that satisfies all parties. Consider the following ideas to make the most of your home.

What Home Improvements Can Maximize Your House’s Sale Value?

1. Landscaping & Exterior Cleanup

A home’s exterior can form a favorable first impression and influence the willingness of potential buyers to make an offer. For example, reseeding patchy areas of the lawn, cutting grass, and trimming trees and shrubs will add a neat, inviting aspect to your property. Repainting fences and shutters can also demonstrate to visitors how well your property has been maintained. As a result, they may feel more confident in making a higher offer.

2. Painting

Adding a fresh coat of paint to your interior walls before selling a house is one of the easiest and most affordable ways to enhance a property's appeal. Neutral colors, such as light beiges, whites, blues, and greens will allow visitors to envision how they could add their own decorations. Consider scheduling a consultation with a design professional before you paint to ensure a careful balance between tone and lighting.

3. Lighting

Replace old overhead light fixtures with pendant lighting or chandeliers to update your interiors’ appearance and create an inviting atmosphere for serious buyers. Outdated lighting options frequently lead visitors to consider the cost of updating them, which may be reflected in their offers or may encourage them to consider houses with more modern lighting. Also, ensure that your curtains and blinds don’t impede or minimize natural lighting to ensure that viewings held at differing times of day result in the best possible impressions.

If you want to sell a house, turn to REthink Luxury in Chattanooga, TN. This real estate agency secures the best deals for buyers and sellers. These experienced realtors will use detailed, updated insights and research to help you determine the full value of your home and connect you with buyers ready to offer the best prices. Call (423) 710-6305 to discuss your upcoming sale, or reach out to them online to ask any questions.

The Dos & Don'ts of Buying Your First House

Wed, 29 Sep 2021 18:20:15 GMT

Being able to buy a house for the first time is a significant milestone for many people. However, it’s also a large investment, so working with an experienced agent is essential. If you’re buying your first home, the following guide highlights a few key steps to follow.

Do:

Get preapproved.

Securing a loan is one of the most challenging steps to take before you buy a house. Along with finding a lender, applying for a mortgage involves paperwork that could take days or weeks to gather. Getting preapproved allows you to take care of this step in advance, preventing unpleasant surprises that could derail the sale. Sellers may also take your offer more seriously if they know you’re already approved for a loan.

Know what you want.

When you’re house hunting, it’s easy to get overwhelmed by the available choices. Knowing what your first home must have will help narrow down the options and keep you from making compromises. Compile a list of necessary features, such as a large backyard or a deck, and go over the points with an agent so that they know what to include in the search.

Don’t:

Make decisions based on emotional reactions.

Sometimes a house may seem ideal, but try to avoid getting distracted by beautiful tiles or expert staging. The perfect home should have the square footage, number of bathrooms, and the location you need. While you should love a new home, try not to let emotions guide your decision to make an offer.

Underestimate closing costs.

The asking price of a home is an important factor during negotiations, but many buyers forget about the closing costs. These expenses, including fees for the attorney, title office, and inspections, can add thousands of dollars to the home's final price. An agent may recommend asking the seller to handle some of these expenses in exchange for a flexible closing date.

If you’re hoping to buy a house, let the agents at REthink Luxury in Chattanooga, TN, help. Their team serves prospective homeowners throughout Hamilton County. You can count on this accomplished real estate agency for long-term support. They'll also be happy to answer any questions about the buying process. Call (423) 710-6305 to discuss your needs.

How To Market A Luxury Home

Fri, 22 Jan 2021 18:17:06 GMT

When you’re selling a luxury property, the usual rules about how to market a home tend to go out the window.

For starters, not all sellers want the universe to know that their home is going on the market, so you might not have the option of advertising the home on a real estate portal or even listing it on the multiple listing service (MLS). And depending on whether or not the seller (or the home) is noteworthy locally or nationally, there could also be quite a few “interested buyers” who don’t have the means to purchase a home but who still want to come inside and look around .

But that doesn’t mean that marketing a luxury home is impossible — far from it! There are specific tactics and strategies that wouldn’t make sense for another type of property but that are perfect for luxury homes, and you can use some or all of them to secure a qualified buyer without compromising privacy.

Keep it in your pocket

When a home is for sale but it’s not listed on the multiple listing service (MLS), it’s known as a “pocket listing.” There are many reasons why a seller might want to leverage a pocket listing instead of using the reach and network of the MLS, and privacy is usually at the top of the list.

If the address or the person who lives there is relatively well-known, then it probably won’t be too long before the media or a fan picks up on the home for sale and turns it into a story.That can be a tactic that works to your advantage, of course, but you might want to save the step of listing on the MLS until after you’ve used the local luxury network to shop the home (and you have not received any viable offers).

The local community can be your best asset in the home sales process. If you tell your friends, colleagues, and members of any clubs or organizations where you’re a regular attendee that you’re putting your home up for sale, the likelihood of you finding a qualified buyer is heightened — and your acquaintances can tell anyone they know about the fact that your home is for sale. You might not be telling every buyer in the market that you’re putting a house on the market, but you’ll certainly be reaching a large portion of people who are financially qualified to take on that investment … and possibly interested in buying it.

If you think you could stand to expand that network, host a party. There’s no better way to show off your home than when it’s packed with admirers.

The luxury world is a stage

Even the best-maintained luxury home looks more lived-in than magazine-ready most of the time, so before you showcase yours, it’s smart to take care of any cosmetic issues that might have been lingering and possibly even consider moving yourself and your things to a different location so that it can be staged and presented at its very best.

That might be an extreme idea in your opinion, and there’s a lot you can do to make your home shine short of moving out and leaving it to professionals. Start with the basic curb appeal

Is your lawn manicured and maintained, and is your landscaping polished?

Do you need more gravel or flowers anywhere?

Do your trees and shrubs — and grass blades — look healthy?

Inside, get the place deep-cleaned to within an inch of its life. Steam the carpets and polish the wood floors. Then look at the balance of furniture in the room — is it arranged to showcase the place at its best, or for human convenience? You might want to remove a piece of furniture or two for every room so that you have plenty of space around each item. Allow for smooth and uninterrupted traffic flow through each room. Some experts recommend leaving space (including between furniture and walls) around each piece of furniture.

Examine your decor with a critical eye, too. It might not be enough to remove those family photos from the guest rooms — you may also want to think twice about showcasing any artwork or decorations that are tailored to specific tastes. The idea is to invite visitors to imagine themselves living in the home, and some people might not be able to do that around certain images, so if your own preferences tend toward the risque or out-there, think about going a little more moderate while you prepare to sell.

Build your (visual) asset bank

If your home doesn’t sell as a pocket listing and you do decide to put it on the MLS, then you’ll need some high-quality images to help entice a qualified buyer to your doorstep.

The people who can afford to buy your home won’t want to waste time visiting a property that doesn’t meet whatever standards they’ve set themselves, and in this era of digital opportunity, it’s a huge mistake to ignore images when you’re trying to sell a luxury property.

It’s not enough to “just” have pictures, either. You want the lighting, staging, and finish that comes with a professional photographer and all of the accompanying cameras, lights, and other tools. And if you really want to make a splash, you’ll need to go a step further and think about creating a video that really showcases what makes your property shine.

Tell a story about the special features

A luxury home wouldn’t be a luxury home without sweeping people away somehow. Whether that’s an architect who’s a household name, finishes fit for royalty, or a view that leaves you breathless, you need to know what makes your home fit for the “luxury” label and how you can convey its attraction to people who have never seen it.

Pick the thing or couple of things that always elicit a comment from the people who visit your house.

You probably know them if you begin to think about them — the beautifully landscaped pool area, perhaps, or the industrially equipped kitchen, or the horse stables, or the view from the master bedroom. Then make sure you make those features a central focus of your property marketing. Help potential buyers feel what it’s like to wake up and look out those windows, or take a dip in that pool after dark. Luxury is a feeling, and if you can spark that feeling in the people who are searching for a place to live, you’ll be working toward a sale in no time.

Pricing and incentives

It can be difficult to price a luxury home to sell because they are usually much rarer than entry-level or mid-level homes, and therefore they don’t exchange hands quite as frequently. That makes it tough to pull comparable sales when you’re wondering how much your home might fetch on this market.

Talking to a real estate professional who specializes in luxury sales is essential when you’re trying to nail down the right price for your home.

If you overprice it, it will linger on the market for much longer than it should while you consider reducing the price or pulling it off the market — agonizing for any seller. And it’s equally bad to price it so low that you’re leaving money on the closing table when the time comes to walk away.

Don’t use the l-word

Most buyers in the market for a luxury home aren’t going to Google “luxury homes for sale in my area.” They look for clues that indicate a property is high-end without saying it outright: “gated community,” “estate,” “extravagant,” “opulent,” or “grand,” for example. They might also look for clues in a listing, like whether it’s a waterfront property or the price per square foot.

A real estate professional can walk you through the different cues and clues that qualified buyers in your area are going to be using and help make sure that your marketing materials and listing is peppered with them.

5 People You Need In Your Homeowner Network

Fri, 22 Jan 2021 18:16:30 GMT

So you’re finally a homeowner – congratulations! This is an important step in anyone’s life, and it’s absolutely normal to feel somewhat (or wildly) unprepared for the realities of owning a place of your own. What if there’s an emergency, or what if something breaks? Do you know what to do?

Here’s the good news: Like so many things in life, it’s not what you know; it’s who you know. Some homeowners take years to get all of these names and numbers in their mental address books or their smartphones, but if you start trying to find these essential people in your homeowners’ network early, then you’ll have an easier time handling any problems.

1. An insurance agent

If you have a mortgage loan on your home, then you’re going to need homeowners’ insurance, which protects the asset being backed — otherwise known as “your house” — from risk. And to get the best deals on insurance and make sure you’re fully covered for everything that needs to be addressed, you’ll probably need to talk to an insurance agent about your options.

Most home insurance policies cover things like fire, for example, but they don’t automatically include coverage for other adverse events like a flood or an earthquake. Do you really need earthquake insurance? Well, your insurance agent can tell you!

You may also be eligible for discounts on other insurance policies when you become a homeowner, like your car insurance. In addition, you may want to increase your coverage for policies like car insurance; now that you’re a homeowner, you have a big asset that could become part of a claim if you get into a bad car accident, you’re at fault, and your insurance doesn’t fully cover the other party’s damages or injuries.

A good insurance agent can make sure you’re covered from all angles so that you can get on with the business of living your life .

2. A cleaner

Maybe you’re the type who really likes to clean — you find it relaxing or rewarding. Even so, you’ll still want to think about finding a cleaner who’s worth the cost in case you’re ever in a bind, such as if a health issue prevents you from cleaning and the mess is driving you bananas, or if you’ve got to leave town for an extended period of time and are thinking about turning your house into a vacation rental while you’re away.

“ Worth the cost ” can be a relative term! Try to find someone who has references so you can get a good idea of how thorough their cleaning is and how flexible they are with times. A really detail-oriented cleaner might charge more and have fewer time slots available every week or month, but like anything else, you get what you pay for, and it’s probably better to find someone who really knows how to deep clean instead of hiring a relatively cheap cleaner who isn’t actually going to evict all the dust bunnies .

3. A general contractor

As a homeowner, there are always going to be little things that need attention here and there, possibly as soon as you move in.

Chipped crown molding, holes in walls, broken windows, or doors that creak — whatever your issue, living with it might be fine for as long as you can stand it, but at some point, you’ll want your house to look as nice as it possibly can, even if that only happens right before you get ready to sell it.

Maybe you want to do some renovations or even add a room, a shed, a garage, a deck … if that’s the case, it’s even more important to find a reliable general contractor.

A reliable general contractor is one that shows up on time and who can accurately quote a project so that you can budget for it. Reliable contractors can explain timelines, the cost of different materials, offer options, and get the job done on time (or within a reasonable window).

4. A roofer

Depending on the type of shingles on your roof, you may not need to get them replaced at all while you live in the house, but you can bet that any buyers are going to ask when the roof was last replaced . Composition shingles usually last more than a decade but less than 20 years, wood shingles last somewhere between 20 and 25 years, and asphalt shingles can last anywhere from 15 to 30 years.

If you’re not sure how much longer your roof has, then talking to a roofer and making any necessary repairs before they’re needed — so a leaking roof doesn’t damage your house — is a good move.

5. A real estate agent

Of course, you aren’t ready to sell your house as soon as you move in — but keeping in touch with a local real estate agent is still a good plan.

Your agent is often the first to know not only who’s buying (and moving in) and who’s selling (and moving out), but also whether there are any new developments planned nearby, where the best restaurants and home improvement stores are located, if there’s a new hiking or biking trail planned, and much more.

When you are ready to sell, your real estate agent can help you decide what needs to be changed or fixed to make your home one of the most enticing in the neighborhood, can give you a good idea of when would be the best time of year to put your house on the market, how to price the place, and hold your hand from beginning to end. That’ll be easier to do if you’ve maintained a relationship with the same agent over time instead of scrambling to find one only when you’re trying to sell.

Plus, like your neighbors, a real estate agent can often help you fill in any gaps that are missing in your own personal homeowner network of helpers.

7 Tips For Buying A New Home

Fri, 22 Jan 2021 16:47:21 GMT

Buying a house - whether it’s your first or fifth - can be a bumpy process. Between the financing, the availability (or scarcity) of homes on the market in your price range that meet your needs, the offer process, the appraisal and the inspection, there’s a lot that can go wrong between deciding that you are in the market for a new home and turning the keys for the first time in your new front door.

But there’s a lot that buyers can do to make the process smoother. Here are ten tips.

1. Check your own credit

If you’re like most Americans, you’ll need a mortgage loan in order to purchase a house. The amount of money that a lender is willing to loan you will depend on several factors, including:

Your current income

The amount of down payment that you’re bringing to the table

Your credit

You might or might not have a lot of influence over your current income, and you might or might not have wiggle room to save up for a down payment, but one thing that you can almost always work on is your credit. Get copies of your credit report to ensure that everything on it is accurate; fix any errors, and consider talking to a credit expert who can tell you which payments to prioritize and how to improve your score.

2. Research sales price in your area

While you’re considering exactly what kind of home you want yet (and we’ll get to that), you’ll also want to think about how much that home might cost . This would be a good time to talk to an expert, like a real estate agent, about the sales prices in the area.

An agent can show you current active listings and is also a good resource to tap when you have other financial questions about homeowners’ insurance or other costs of homeownership, like common maintenance costs in the area.

3. Nail down the down payment

While you’re considering exactly what kind of home you want yet (and we’ll get to that), you’ll also want to think about how much that home might cost. This would be a good time to talk to an expert, like a real estate agent, about the sales prices in the area.

4. Consider all the costs

There’s more than PMI to think about when it comes to a mortgage loan - you will also be paying:

Property taxes

Homeowners’ insurance premiums on the house

Flood insurance, and often supplementary earthquake policies are worth considering (depending on the location)

You will likely need to pay closing costs, and you probably have furniture and items to move, so you’ll have to cover those expenses. And then there’s the wear and tear on the home and the cost to repair it, and the costs of utilities from month to month; a good local real estate agent can help you figure out what to expect.

5. Get to know your dealbreakers

Almost as important as knowing what you want in a home is knowing what you definitely don’t want. But don’t confuse a “dislike” with a true and genuine dealbreaker - a feature of the home that you can’t realistically fix.

If you haven’t tapped into the expertise of a real estate agent yet, now would be the time. An agent can help you understand what’s fixable and what’s not in the house you’re just not sure is a good fit.

6. Search accordingly

One tool that real estate agents have that the general public doesn’t is access to the local multiple listing service (MLS) , where homes are actually listed for sale. Once you understand your must-haves and your dealbreakers, your agent can set up a personalized alert anytime a home that meets your exact criteria is listed on the market.

7. Think competitive but reasonable

You probably want to avoid a bidding war (not great for your wallet!), so you’ll want to make an offer that the seller will consider competitive. At the same time, you don’t want to pay more when the seller would accept less; an experienced real estate agent can help you navigate the field of exactly what to pay and come up with an amount that’s a good deal for you and priced high enough to capture the seller’s attention.

Don’t forget that there are other concessions you can make to sweeten the deal beyond sales price - like giving the seller control over the closing timeline or offering to split the price of any necessary repairs discovered in the inspection. Your agent can walk you through popular options here, too.