4 Tips To Be an Educated Buyer
4 TIPS ON HOW TO BE AN EDUCATED BUYER IN KNOXVILLE
Buying a home is not only one of the most important purchases in a person’s life but it is also a substantial one. Before having your Knoxville Relator negotiate the purchase of your future home, it may be helpful to follow these four tips on how to be an educated buyer in Knoxville.
1. GET PRE-APPROVED
One of the first steps when starting the home buying process is to get pre-approved. Before you start looking for a house in Knoxville you will need to determine your buying power, and decide what you can afford. You should be in contact with a mortgage lender in order to find what price range is best for you.
Further, you should consult with your local lender to determine how much you will need for a down payment and what potential closing costs will be. You and your Knoxville realtor should come to an agreement about the price range you are comfortable with prior to starting your search. Although it may be tempting to look at a home a little outside of your price range it is better to consult with your Knoxville real estate agent and stick to your initial decision.
2. PRIORITIZE YOUR MUST-HAVES and DEAL BREAKERS
Before jumping in to the home buying process it is important to create a list of important must-haves and deal breakers that may guide you throughout your home search process.
There are many items that go behind buying a home in addition to the price that may influence your decision such as local schools, proximity to the nearest highway, or local amenities.
You will want to make your own personal list of items in regard the location of your house as well as the specific attributes of the house. Some of these attributes may be the number of bedrooms or bathrooms, a two car garage, or basement. After making these lists you should decide the level of importance that each item holds and share the list with your realator. Be aware that realistically, it is going to be impossible to find a home that checks every one of the items on your list.
2. DO YOUR HOMEWORK
During the home buying process it is smart to visit the area of the potential home during several different times of the day.
If you are interested in a specific location you may want to ask around about the location, visit in the morning and afternoon to get an idea about traffic, and ask your Knoxville relator about the resale value of the area. If you are a parent, it may be useful to visit the neighborhood after school hours to see how many children are playing outside or walking home from the bus.
4. BE READY TO BUY
After looking at homes and falling in love with “the one” it is finally time to write an offer. When writing an offer you should have no contingencies and have your finances in line.
A seller will be more willing to negotiate if they do not have to wait for you to sell your home. A good idea would be to already have your home on the market and under contract before you begin to look for your new dream home.