2019 Home Buyer’s Tips – Chris Wulff

By Chris Wulff

Budgeting for Homeownership

As likely the largest and most important purchase you’ll ever make, homeownership requires careful budgeting. This includes planning not only for a down payment and a monthly mortgage, but also property taxes, repairs, and other costs through the life of the home. You are going to have to hire at least one inspector and appraiser before during the transaction process, and you should prepare to pay 2 – 4% of your mortgage in closing costs. You should also expect the costs of insurance, potentially a homeowners’ association fee, and most definitely the monthly costs of utilities. Budgeting for regular maintenance and repairs is also crucial. Despite these costs, if making a “smart” purchase with the assistance of an outstanding real estate professional, homeownership is often the right financial investment.

Seek Professional Help When Buying A Home

Working with a real estate agent is essential to getting the best price on your home, but that’s perhaps not the only professional you’re going to want to have in your corner. If you are planning significant renovations, a contractor that you trust can help keep your renovation dreams alive. Even if you want the home as is, you are going to want an inspector and appraiser to provide you with an assessment of the true value and potential hazards of the home. Finally, to lead you through the paperwork, you will need a Real Estate Expert to guide and advise you along the way.

Evaluating Re-Sale Potential

When buying a home, that you don’t always think about the time that may come when you might need to sell it. Yet, a typical home buyer will probably stay put for a little over ten years, then move to greener pastures. What your once-new home will soon be worth at that time depends on its location, amenities, condition, among other things. Ideally, the home will be situated in a quiet, peaceful neighborhood, yet be near roads, schools, shopping, and other attractions. Indoors, the layout and arrangement are key. More bedrooms mean value, as well as additions and amenities desired on your geographic area, such as pools, enclosed porches or patios, etc.. High quality construction materials can keep it as good as new with just minimal maintenance while you have the home.


You may not be a true home flipper, nevertheless, you might be ready to commit a little TLC to a home. This could be a great money saving idea or an enormous undertaking. If electrical or foundation repairs are needed, then that’s likely better left for the professionals. Be realistic about the amount of time you can invest and when you want the redone areas of your home ready for usage. A home inspection can reveal fairly accurately how much you’ll have to have to change to make it your dream home, so plan on fixing all the issues the inspection unveils before embarking to a larger upgrade.

Buying In Winter

Take advantage of any open house showings and tours with careful home evaluations. As you walk through the homes, listen for the sound of the heating. If it turns on and off several times through your tour, the home is likely losing heat, indicating poor insulation or drafty doors and windows. You also can, and should, ask to determine recent bills to get a sense of how much it will cost to maintain a comfortable residence throughout the chilliest months. Drive through the neighborhood the day after bad weather to get a feeling of how fast the neighborhood roads are affected.

Purchasing In A Hot Market

In many areas, homes are only spending a matter of weeks on the market before being swooped up by an enthusiastic buyer. During these markets, it’s essential for you to act fast, but not hastily. Skip your low-ball offers completely, as these are likely to be dismissed in comparison to the other full priced offers. As much as you can, attempt to check through all of the cosmetic defects in a home to account with your offer. The best ally you can have during a hot market is a local Real Estate Specialist that I can keep an eye on MLS listings, allowing you to know about new properties you may well be interested in before they are posted on public sites.

How To Lose A Pre-Approval Offer

Damaging your credit worthiness is easier than most individuals can imagine. Before you apply for a home loan, you’ve hopefully worked on increasing your credit score, but do know that after you are pre-approved for a loan, a bank can still revoke their offer. This means such things as buying a car or furniture on credit can affect the mortgage you need to buy a home. Anything that increases the amount of monthly liabilities puts that your potential loan at jeopardy, including co-signing on someone else’s loan. Working with a mortgage broker is highly recommended prior to home shopping so that you plan accordingly.

Buying A Neighborhood

When you purchase a new home, you are buying a lot more than a plot of land and a house, you are also buying in to the community surrounding your home. Think about what you want in this environment. Do you want to be near local nightlife? Parks and family oriented places? How far are you willing to commute? Do you want your friends or family to be within close proximity? When you’ve found a probable home, talk to the neighbors to see what the area’s are really like. Lookup crime statistics online. Visit the neighborhood on different occasions, including throughout the morning and at rush hour. You may find neighbored has some faults. Do your own due-diligence!

Reducing Buyer’s Stress

Purchasing a home is an emotional experience, but it can be positive and enjoyable should you choose the right real estate agent that has your best interest in mind! Ready to let go of the worries? The best thing that you can do is to speak with an expert on what the home buying process entails so that you can put an affective plan in place. After all, your time should be spent focusing on your family and planning for your future. Contact me to start the process and get answers to those buying questions!

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