o one wants to contract a home buying as you can.
case of buyer's remorse. Naturally, your objective is not
You might not be familiar to overanalyze home buying until
with the term but you might be you are paralyzed by the
with the emotion. You know, it’s complexity of the transaction but
that nagging feeling you get to be well informed about all the
after you make any major purchase decisions you are likely to
that you've either paid too much encounter.
or received too little for your
investment. In most cases, there You already know that the
is no recourse for the buyer to purchase of a home is a
receive compensation once the tremendous investment, both
contract has been signed. monetarily and emotionally, so do
a little research and it will pay
If a homeowner wants to avoid off in big dividends and help you
buyer’s remorse, why are there so avoid the all consuming buyer’s
many people out there who suffer remorse.
from it? The answer usually stems The following are some things you
from the fact that most of these can do that will help your
home buyers engaged in a major transaction progress smoothly and
transaction without enough improve the odds that you will be
knowledge and information about an informed and satisfied
what the whole process. homeowner:
If you have heard it once, you’ve •Get help. Your home is likely to
heard it said a hundred times, represent one of the largest
the best way to make sure that investments in your life. In
you choose the right home is to order to make sure that the
properly prepare yourself by transaction goes smoothly it is
getting as much information about of vital importance that you
choose the right agent to discovering that it is out of
represent your interests. The your price range. Be sure to do
right agent for you will be your financial homework first.
someone whose experience, Assess your financial situation
knowledge and personality you can and then speak with a lender to
trust which will allow you to learn about the different
feel comfortable with the whole financing options available to
transaction. Usually a good you. When you find the right
indicator of a successful agent lender get the paperwork
is one who has at least five processed so that you will be
years of successful experience ready to buy when you find the
and is in the real estate right home.
business fulltime Try to find an
agent that is familiar and •Avoid other major purchases. In
knowledgeable about the order to determine the amount of
neighborhood and community that home you can afford a lender uses
you plan to move into. Don’t your debt-to-income ratio. This
make the mistake many home buyers ratio is the percentage of your
do by automatically selecting a pre-tax income that you spend on
family member or friend who is in debt. Your debt ratio will
the business, unless you know include: monthly housing costs,
without a doubt that they are a car payments, credit cards,
consummate professional. student loans, and any other
installment debt. If you take on
•Get pre-approved. Do you already more debt just before buying a
know how much home you can home, it will have a definite
afford? There is nothing more impact on the amount of the home
frustrating than spending the loan that the lender will
time looking for a home, finding finance. Delay all major
the perfect home, and then purchases until your home
purchase is finalized. renovation by bringing in a
licensed, professional home
•Ask Questions. No one knows the inspector to inspect the home
home better than the seller of before you buy. If any major
the property; however it is not problems are found, it will steer
always in the seller's best you away from a bad decision
interest to disclose all the and/or it will help you negotiate
information. If you can find out a better price at the negotiating
the seller's motivation for table.
selling you might be able to
negotiate a better deal on the Hopefully, the above items will
house. Try to find out the last get you started along your
time service was performed on the journey of obtaining the
roof, furnace, plumbing and water information you need to know to
heating. Asking the right get you into your desired home
questions now can end up saving and avoid developing "buyer's
you a lot of money in the long remorse".
run.
•Get a home inspection. The last type="text/javascript">
google_color_border =
"FFFFFF";
google_color_bg = "FFFFFF"; type="text/javascript"
google_color_link =
"0000FF"; src="http://pagead2.googlesyndica
tion.com/pagead/show_ads.js">
google_color_text =
"3E3F43";
About the Author:
Nef Cortez has been a licensed real estate broker and has held various positions in the real estate industry for 25+ years. If you would like to read more of Nef's pithy and timely advice (with the latest foreclosures) visit http://www.nefcortez.com
