The current market is a great time to invest in real estate. Whether you're looking for a long-term home or a short-term investment, Oakstrand Realty is here to help you get the most out of your purchase and avoid any potential nightmares. Here are some tips to keep in mind when buying your dream property.
When it comes to mortgages, it's important to find the right fit for you. If you plan to stay in the home for a long time, a fixed rate mortgage is the best option. On the other hand, if you're looking to move in a few years, a low-rate adjustable mortgage can help you save money in the long run.
Keep track of everything in writing. Document the home tour dates, buyer and seller feedback, and your objectives. This will help you keep a clear idea of what you want, what you have done, and what you plan to do in the future.
If you're looking for a more affordable area to live, consider moving to a new location. Different parts of the country have different costs of living, so you may be able to get more for your money in a different area.
Network with other real estate investors. This will give you access to their experiences and help you avoid mistakes they have made. Additionally, having a network of connections can alert you to investment opportunities you may not be aware of.
Ask your realtor for information on sales from their brokerage or themselves over the last year. This will give you an idea of their experience and strengths in the real estate market.
Find out if your real estate agent is an agent or a realtor. A realtor has had more education than a real estate agent, though an agent may have more experience. Both can help you find a home, but you may prefer one over the other.
If you're looking to purchase a brand-new house, consider searching in the fall season. Builders often mark down prices beginning in September, so you can get the most out of your purchase.
Take a handy man course to learn basic home maintenance skills. This can save you big money in contractor fees and help you keep up with repairs and renovations in the future.
Finally, meet with a lender prior to looking at homes. Ask about the available loan options so you can get an idea of how much cash out of pocket you will need for closing costs, down payments, and other fees.
At Oakstrand Realty, we are here to help you find the perfect home. Follow these tips and you'll be well on your way to getting the home of your dreams.