The experience of purchasing a new home can be exciting, not to mention a little terrifying, for first time homebuyers. Because a house is such a huge investment, the process of buying a home starts long before the buyer sits down to sign the papers at closing. As a result, savvy new homebuyers take the time to prepare well in advance to ensure that they make the best decision and thus the best financial investment. For those looking to purchase a home in the South Florida area, here are some tips to get started on finding the home of your dreams.
Set Parameters
The first step for new homebuyers is setting parameters. Beginning the search can quickly be overwhelming, so before even walking into a property, take the time to decide what you are looking for in a home. Start by setting a price range, and make sure that it is reasonable: if you cannot afford anything over $250,000, don’t be tempted to look above that price point. Think about the number of bedrooms, the number of bathrooms, and the total square footage. Think about the garage size or the available parking, and consider whether you want one story or two. Take location and preferred neighborhoods into account as well. Those who have children might be looking for a family home in a cul-de-sac, for example. Consider also the extras, such as a swimming pool, a deck, or a waterfront backyard.
Do a Search
Once you have your parameters, you are ready to begin the search. Online real estate search engines offer potential homebuyers the convenience of shopping around before stepping into a home. In addition, these search engines are increasingly specific in narrowing a search, weeding out any inappropriate properties immediately. So, plug in your parameters, and see what comes up in the search. And don’t be afraid to think outside the box a little as you search. Price tends to be fairly inflexible, but you might find that the perfect home is a one-story, three-bedroom with a three-car garage and a large deck instead of the two-story, four-bedroom with the two-car garage and swimming pool that you had planned to find.
Contact the Professionals
In this case, the professionals can be invaluable to help in your search. Real estate agents tend to specialize in areas, so they often know the available properties in your preferred area very well. Additionally, larger real estate agencies have search engines that can forward items that fit into your search parameters to you when they show up as listings. Allow your agent to help you beyond your search as well. Agents are familiar with the entire home buying process and can thus offer useful advice in negotiating the deal, and they act as an intermediary between the buyer and the seller.
Look Closely
If you have the time, be sure to take it. Buying a home shouldn’t be a painful experience, and there is no need to feel pressured into making a choice before you’re ready. Look over your options carefully, and take the time to review them closely. First impressions can be powerful, especially when seeing a potential home. But, first impressions, while useful for creating an emotional sense about the property, are only one part of making a final decision. Don’t get swept up in the emotions and avoid making the wrong decision.
Make a Short List
Sometimes, the first choice does not work out, so be sure to have at least three choices to consider. Spend the time to review the various positive and negative aspects of each, and identify the weight that you place on these pros and cons. If you know that the number of bedrooms is more important than the size of the garage, make a note of this. If a swimming pool or a large yard is a must, identify this as a priority. Recognize which features are essential and which are preferred, and make a list of the homes you want to see. Create a ranking system so that you can see the homes at the top of your list first and then compare them as you go.
Richard Hector is the owner of Lucky 13 Home Investments, which is an independent real estate firm committed to providing outstanding service and value to the first time homebuyer. For the last 10 years we have been widely recognized in purchasing real estate in South Florida. Our purpose is to revitalize the communities we live in by buying vacant foreclosed homes and remodeling them for families eager to take advantage of today’s housing prices. For more information, visit www.lucky13homeinvestments.com.
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