Always use a proven local real estate agent to represent you in your purchase. A top local agent provides extremely valuable advice and service at no cost to the buyer.
Don’t
• Ask everybody for his or her opinion
• Buy during hot markets (i.e. spring)
• Get involved in crazy multiple offers
• Buy a home with foundation problems
• Buy a home with “major unfixable negatives”
• Do significant remodeling while living there
• Over-analyze
• Think of your home as just an investment
• Expect perfection
Do
• Have your cash and loan approval in place
• Go online to educate yourself
• Go to open houses to educate yourself
• Buy properties that have been on the market for a long time
• Buy during the slow “seasons”: Typically just before Thanksgiving to just after New Year and the entire month of August (families are on vacation)
• “Go for it” if a home “comes close” to your needs
• Buy the best location you can afford
• Have thorough inspections
• Assume remodeling costs will be 1.5 times your best estimates
• Assume your remodeling time will be twice as long as scheduled
• Plan to own the house at least 3-5 years to net a profit from sale
These Do’s and Don’ts are great for smart home buying, but smartest of all is finding the right agent.