Mortgage News Roundup - 4 Things You Shouldn't Overlook When Buying a Home

We hope you’re doing well and enjoying the cooler fall weather. In today’s blog, we’ll look at buying and selling a home in different markets, and four things you shouldn’t overlook when buying a home.

4 Things You Shouldn’t Overlook When Buying a Home

Check out the below list of common things buyers overlook so you don’t.

Environmental Factors

Visit your potential neighborhood at varying times in the day and week so you get a true feel of what it’s like to live there. Even if you think you have found a great neighborhood, you will want to see what it is like both on weekdays and weekends, mornings and evenings. If it’s near a school, you can expect a lot of people parking around your home on weekends for soccer and baseball, and occasionally in the evenings when there’s back to school night and other events.

Distance from Where You Need to Go

How close is the grocery store? Will it add an extra thirty minutes to your commute time? If you use public transportation, are there easy stops nearby?

Connectivity

Does your cell phone work where the house is? Despite every cellular company claiming that they’re the best in the nation, there are still dead zones out there. If one company doesn’t work, would you be open to switching service providers? Also, if you like high speed internet, find out who the provider is for that home. If you’re used to fiber, and you’re moving to a cable solution, you may notice the difference.

Extra Costs

Before you make a home purchase, it’s a good idea to do your research and find out how much closing costs will be, how far property taxes will set you back and how much homeowner’s insurance is.

How to Buy a Home in One Market While Selling in Another

Someone being transferred for work or making a major move for personal reasons may end up selling in one market and buying in another. It would be ideal to sell in a seller’s market and buy in a buyer’s market, but that’s not always the case.

Here are some tips for buyers and sellers in any market.

Know before you go

Today, markets vary by state, town, city and even block by block. But most people don’t realize this. So it’s important to start by researching the hyper-local market of the town or neighborhood that interests you. Find a reputable real estate agent that is an expert in the neighborhood.

How to sell in a buyers’ market

If you need to sell in a buyers’ market, put your best foot forward from the start. Make sure your home is priced to sell.

How to buy in a buyers’ market

Take your time to see as many homes as possible to get the lay of the land. Focus on the most motivated sellers, as this is where you may uncover the best values.

How to sell in a sellers’ market

If you have the luxury of receiving multiple offers, focus on the best buyer and the best terms and not so much on the bottom line. You want the buyer who is going to close.

How to buy in a sellers’ market

When competing with other buyers, have your inspections and do as much due diligence as you can before making an offer. An offer with swift, few or no contingencies and a good price will often get the house.