Buying an investment property in California has different things to consider. With the pandemic on…
A “bucket list” isn’t just something for old people. Bucket lists start when we are young, and getting a dream house is typically on the top of the list for many. I mean, let’s be honest, every of us would want to live in a house that we are comfortable in. We want a house that embodies our dreams and aspirations. A house we’d be happy to spend the rest of our lives in.
Getting a dream home doesn’t need to be a far fetched story however. The first thing to remember is to set realistic expectations. There are other costs you don’t have with renting to consider: taxes, utilities, homeowner-association fees, maintenance, property tax increases. So first figure out your comfortable monthly payment including all of these things. A first steps for many people is to talk to a lender to get exactly how much they qualify for. Lender recommendations start with your chosen buyers agent.
What if you spot the house you have been dreaming of since you were younger while poking around on the internet? There are many secrets real estate agents will hesitate to tell you to about to get the house of your dreams, but these two are the most critical to know about in my experience. You will be surprised to learn that getting your dream home is easy if you are prepared.
Here are two of 10 secret tips that will net you your dream house in no time from HGTV:
Don’t Try to Time the Market
Don’t obsess with trying to time the market and figure out when is the best time to buy. Trying to anticipate the housing market is impossible. The best time to buy is when you find your perfect house and you can afford it. Real estate is cyclical, it goes up and it goes down and it goes back up again. So, if you try to wait for the perfect time, you’re probably going to miss out.
The Secret Science of Bidding
Your opening bid should be based on two things: what you can afford (because you don’t want to outbid yourself), and what you really believe the property is worth. Make your opening bid something that’s fair and reasonable and isn’t going to totally offend the seller. A lot of people think they should go lower the first time they make a bid. It all depends on what the market is doing at the time. You need to look at what other homes have gone for in that neighborhood and you want to get an average price per square foot. Sizing up a house on a price-per-square-foot basis is a great equalizer. Also, see if the neighbors have plans to put up a new addition or a basketball court or tennis court, something that might detract from the property’s value down the road.
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