7 Key Tips To Help You Find Your Dream Home In The Real Estate Market
Finding a true dream home in Chester or Long Valley, New Jersey is always a challenge, but that challenge is even stronger when looking for a house in a very popular location. While getting that perfect home for an affordable price tends to be a huge challenge, following these seven major tips can take you a long way towards getting that home you’ve been dreaming of at a price you can actually afford. Watch this video first that talks about getting out of debt before buying a home:
Tip #1: Don’t Overlook Foreclosure Deals
Foreclosure deals are often some of the best deals in an area. A person who bought too much house for their income, or maybe a mass lay-off of good jobs can suddenly lead to an opening of houses in the area. Either way, a bank is looking at several great properties and the sooner they can unload them, the better off they will be.
Since the bank already took payments and losses, they’re interested in salvaging the situation quickly which means good deals abound.
Tip #2: Look For Properties Just Listed
Some people wait for the best possible deal they can get, but there are also many home owners who list a property who want to sell as quickly as possible. Offering immediately or having your real estate listed on the MLS right away can sometimes mean getting a much better price because they just want to be able to sell and go to the next chapter of their lives, so take advantage of that mentality!
Tip #3: Look For Properties That Have Been Listed “Forever”
Properties on the other side of the spectrum often lead to great deals, as well. If a great looking house has been listed for over a year, chances are the owners are willing to take a lower bid in order to move their house. This can lead to some really great potential dream homes, especially if you’re interested in country properties just out of town, which traditionally are a bit harder to move.
Tip #4: Ask For Properties Owned By Out Of State Owners
Look for property owners who live out of state. They might be renting out the old house or coming back for maintenance, but chances are they had to move and didn’t get any great bids. Offering to be that buyer they wanted in the first place could get you in the door of a great house – and possibly at a discount so they just don’t have to worry about it anymore.
Tip #5: Don’t Overlook The Neighborhood
Houses aren’t islands separate from everything else in the neighborhood. Make sure you look at the current state of the neighborhood or area before buying a house that might be nice in and of itself, but not in an area you really want to live in.
Beware of directional neighborhoods. This could be good neighborhoods that are slowly going downhill as a negative, or in the other direction you could find neighborhoods that used to be poor but are improving because of surroundings like rejuvenated downtown or expanding colleges.
Tip #6: Understand Your Maintenance Tolerance
This tip is especially important when looking at older properties. That old woodwork might look amazing, but old houses mean a lot of maintenance. You might be better off looking at something new and paying for renovations to capture more of the old look that you like.
As a general rule, older houses and country houses are going to require more upkeep and maintenance than newer homes.
Tip #7: Scout Rental Options Via Craigslist
Sometimes the best deal is from home owners who are not looking to necessarily sell yet, but aren’t against the idea if offered, either. A good way to find these individuals is looking at Craigslist house rental ads. These are usually property owners doing their best to make something out of a property they have.
Getting Your Dream Home
Real estate agents understand that it is never easy to get the perfect home, but by following these tips they can help you find the best dream home at a price likely to be a lot more affordable.