Judy Spencer Dona, CRS, GRI, BROKER's Blog
Finding a deal on a new home sometimes can be difficult. Fortunately, we're here to help you shop for your dream residence so you can discover a house that matches your budget perfectly.
Now, let's take a look at three tips to ensure you can pay the lowest-possible price for your dream residence.
1. Be Aggressive During Your Home Search
Much in the same way that the early bird catches the worm, a homebuyer who tracks the real estate market closely is better equipped than others to discover a deal. If a buyer monitors the housing market in his or her preferred cities and towns, this individual may be able to pounce at the opportunity to acquire a quality house at an affordable price.
Oftentimes, it helps to make a list of homebuying criteria. This list will help you narrow your home search and eliminate houses that fall outside your price range.
You also may want to get pre-approved for a mortgage. With a mortgage in hand, you'll know precisely how much you can spend on a home and may be able to navigate the homebuying journey more quickly than other buyers.
2. Evaluate a Home's Strengths and Weaknesses
Once you discover your dream house, you likely won't want to wait long to submit a competitive offer to purchase. Because the longer you wait, the more likely it becomes that a rival homebuyer could make a move to acquire this residence.
If you find a home that you may want to purchase, analyze its strengths and weaknesses. This will allow you to determine whether the residence is right for you. And if you believe this house is the ideal choice, you can weigh the residence's strengths and weaknesses as you craft an offer to purchase.
Furthermore, there is no need to submit a "lowball" offer to purchase your ideal residence. If you review a home's condition, the current state of the housing market and other real estate factors, you should no trouble submitting a "fair" offer to purchase.
3. Collaborate with a Real Estate Agent
A real estate agent is committed to helping a homebuyer discover a terrific home that corresponds to his or her budget. As such, a real estate agent will collaborate with a buyer and ensure this individual's homeownership dream can come true.
Typically, a real estate agent and a homebuyer will work together to develop a property buying strategy. When this plan is in place, a real estate agent and a buyer will explore the housing market and find a great home at a price that suits the buyer.
A real estate agent is ready to provide comprehensive guidance for homebuyers too. And if a buyer ever has questions during the property buying cycle, a real estate agent is ready to respond to these queries at any time.
Want to pay a low price for your dream house? Use the aforementioned tips, and you can seamlessly navigate the real estate market and find a top-notch and budget-friendly house.
A new house means a clean slate for redecorating. Which is fun and exciting but can become quickly frustrating if you struggle to match the furniture in front of you to the vision in your head.
If you find that this happens the good news is that you are probably a lot closer to creating a beautiful, well-designed room than you think. It’s usually subtle touches that designers keep up their sleeves that make all the difference for a stylish room.
The first thing to keep in mind is that all furniture should be arranged to fit onto your area rug. If this isn’t the case or you don’t have an area rug, this is a worthy investment when you’re able to do so. If you love you’re existing area rug that is too small you can always layer it over a larger rug. This will add dimension and a designer touch, look at you go.
Keep furniture away from the wall. This also makes the above tip much easier to achieve. That’s right you don’t need to find a rug that will span the entire room. Keeping the furniture in the center of the room makes it feel bigger and more spacious. You’ll never look at your friend’s and family’s rooms the same!
Match the size of the artwork you hang up to the size of the furniture you hang it over. Aim for the frame to be at least ⅔ of the size of what it is over and hang it mid-eye level. If you have a gallery wall design it to be so that it still covers a large enough amount of wall space. And smaller artwork can always be creatively reframed.
Take your family’s traffic patterns and activities into consideration when arranging. Blocking main routes with a piece of furniture is awkward and cumbersome. And designing a room that doesn’t accommodate your family’s lifestyle can create chaos and even discord. Make space for toys, video games and homework stations for example.
Take advantage of different levels of lighting. Combining overhead lighting with table and floor lamps create a well-lit comfortable room. It also allows for more control over the ambiance of the room whether it’s time to wind down at night or you’re having friends over for the game.
Add enough tables to the room. A large coffee table is an anchor to the room and allows for drinks to rest, snacks to be laid out and feet to be kicked up. You also want side tables in reach of all sitting positions, and as a place for those table lamps, we mentioned earlier.
And last but not least the secret detail few homeowners include is greenery. Lots of greenery throughout a room makes it feel pulled-together and “right”. It can be via potted plants, fresh-cut flowers or both! If you don’t have a green-thumb there are lots of low-maintenance plants that can survive the most destitute of conditions. Visit a local greenhouse to get an expert opinion on what will fit your level of experience and the lighting conditions of your room. Hint: it’s a good idea to know which direction your windows are facing i.e. North, NorthWest, West etc.
Buying a home is one of the biggest purchases that you’ll ever make in your lifetime. You’ll spend decades of your life making mortgage payments to pay off your home loan. Buying a home is more than just simply finding a place to live. It’s also a financial decision. Your home helps you to build equity, gives you tax deductions, and helps you to have some security in your financial future.
One of the biggest questions that you’ll have when you buy a home is “How much can I spend?” To answer this question, you’ll need to dig a little deeper.
Do You Have Money For A Down Payment?
The standard amount of money that you’ll need for a down payment is 20 percent of the purchase price of a home. If you don’t have the money for a full down payment, you’ll need to pay for private mortgage insurance (PMI). This could add up to be an extra cost of hundreds of dollars per month in additional insurance payments on top of your mortgage and every other kind of expense that goes along with buying a home. You’ll need to take the time to save up for a down payment if you’re a first time homebuyer. If you already own a home, the equity that you have in that home can help you with the down payment.
What Are Your Other Financial Responsibilities?
There’s more to buying a home than just the monthly mortgage payment. You’ll need to get insurance, pay taxes, and have some money set aside for repair and decorating costs. You’ll need to look at your monthly income to find out just how much you can afford on a home. You should take an honest look at your lifestyle and existing expenses in order to determine a comfortable monthly mortgage payment for you.
Know Your Credit Score
Your credit score will be a major factor in how much house you’ll be able to afford. Your lender will use your credit score and credit history to help determine what type of interest rate you’ll get and how much they’re willing to lend you in order to buy a home.
Understanding what you can afford for a home purchase is crucial before you even start shopping. It’s a good idea to meet with a lender to get pre-qualified. This is different than getting pre-approved. Your lender will give you a general idea of how much you can spend on a home without digging too deep into your finances. Getting pre-qualified is a great place to start when you’re looking at the numbers of being a homeowner.