You've found a home you love and are ready to make an offer. Before you present the offer to the seller, our real estate agents suggest doing a few things to ensure the home is right for you.
- Explore the Home's Total Expenses
Perhaps you've taken the time to get pre-approved for your mortgage and think you have an idea of your budget's ideal mortgage payment. However, there are other costs associated with a home that you need to consider.
Property taxes can add hundreds of dollars to your monthly mortgage payment. Homeowner's insurance for the home and any HOA (homeowners' association) fees required for the property can dramatically increase your monthly expenses for the property.
Utilities, like electricity, gas, internet, and TV, are another cost that can put a dent in your budget.
- Check Out the Area at Different Times of the Day
Try to visit the home at various times of the day to confirm that it's a good fit for your household.
Perhaps you envision a neighbor with a community atmosphere, where families go for walks and spend the evenings enjoying their outside spaces. If the neighborhood is a ghost town when you visit on the weekends or evenings, the neighborhood's atmosphere may not suit your ideal lifestyle.
Plan on commuting to your job? Consider driving the route from the property to your workplace so that you have a more accurate idea of your commute time. Traffic during busy periods can instantly turn a short commute into an hours-long ordeal.
- Learn More About the Local Real Estate Market
You need to understand the local real estate market to make an appropriate offer on the property. This includes items like the selling prices for comparable properties, whether the area is favoring buyers and sellers, and how long the home has been on the market.
All these details influence the terms of your proposed offer. Your real estate agent showing you Lewisburg homes for sale is an excellent resource for understanding your local real estate market and providing guidance for your home offer.
- Confirm That Any Improvements Were Done Legally
Home renovations are a terrific way to increase the value of a property, but it's important to confirm that the previous and current homeowners acquired the needed permits for the project.
Check with your city's local building department to see if any permits have been issued for the home.
- Get More Info About the Home's Major Systems
Ask questions to help you learn when the home's major systems, like the roof, plumbing, HVAC system, and electrical network, were last updated.
If the home is due or past due for costly repairs or replacements, factor these costs in when deciding how much to offer for the property.
Following a few simple tips will ensure that you're prepared to make an offer on a home. Ready to begin your home search? Contact us to get started!