Friday, September 25, 2015 / by Bill Berning*
Buying a home can be extremely stressful, especially if you are doing it for the first time. Understanding the home buying process can make things much easier.
Most home buyers find the process of buying a home to be stressful because there are so many variables that come in to play. In many cases, home buyers don’t really understand the process of buying a home until the process is well underway. By planning, taking time to learn the market and working with the right real estate agent, much of the stress of buying a home can be avoided.
Buying a home, whether you are a first-time buyer or a seasoned buyer, always comes with a wide range of emotions. Many homebuyers find the process to be stressful with too many things that need to be done in a short period of time. As you navigate the process of buying a home, you will need to contend with finding the right home, obtaining financing, negotiating and finally closing on the home.
Even at the end of the process, your work may not be finished because the home may be in need of repairs. If there are legal concerns, you may need to resolve these issues before you can close on the home. Fortunately, the process of buying a home can be made much less stressful if you have a thorough understanding of what is involved in the process. You should also make sure that you have the right team behind you that includes a reliable and trusted real estate agent.
Here are a few tips to help make the process of buying a home less stressful.
Be Clear About What You Are Looking For
Homebuyers often cause much of the added stress by not being clear about what they want. They often contact real estate agents with some idea of what they are looking for in homes but are not really ready to make any offers, even if the opportunities present themselves. Before you start looking for a real estate agent to work with, make sure that you are clear about your property needs.
“Many buyers set out for X but end up with Y after learning the market and seeing where their dollar goes.” says Brendon DeSimone, real estate expert and founder of DeSimone & Co. “By the time you are ready to start making offers and move in the direction of acquiring a home, you should be focused. If you find yourself moving around and not certain about the object of your search, it’s possible you just aren’t ready to buy. That’s OK. Take your time and learn the market.”
Figure Out Your Budget and Your Needs
Start by determining exactly how much home you can afford. You should also get pre-qualified for a mortgage. Next, you should start browsing some online home listings and learning about the various styles of homes available in your desired area to get a better idea of your needs.
In addition to narrowing down your potential options based on your budget, you should also consider the amenities that you want in a home. If your family is growing or you are planning to move in extended family members, you may also want to plan to ensure that your new home can accommodate changes in the size of your family. Remember that purchasing a home is a serious, long-term commitment, if you are not planning to buy it as a real estate investment. Therefore, take time to figure out what you want exactly before you even start on house hunting.
Work With the Right Real Estate Agent
Simply working with the right agent could alleviate much of the stress of buying a new home. As you search for the right real estate agent to work with you on buying a new property, you should ask yourself the following questions.
How will you communicate with me about potential properties of interest to me?
How many years of experience do you have?
Can you provide references that show that you have sold properties that are similar to what I’m looking for?
How much experience do you have with homes in this neighborhood/town/city?
Do you work full-time as a Realtor or do you have other jobs?
If the real estate agent meets your desired criteria, you will have a better chance of having a working relationship that benefits you and does not simply cause stress. In addition, you are more likely to find the home that you want faster.
“Ask your agent to inform you of the home buying process, step-by-step, so you'll know what to expect. Your real estate agent can be an invaluable resource for you at a time like this.” says Elizabeth Weintraub, Broker-Associate at Lyon Real Estate in Sacramento, California. “Experienced agents know how to predict possible problems and solve them before they mushroom into a gigantic headache.”
Working with the right real estate agent can make the process of buying a home less stressful. However, it is ultimately up to you to do the research and ask the right questions to ensure that you understand the process of buying a home. After that, you should be prepared to make time in your schedule to deal with all of the necessary steps of the process. If you make a commitment to the process, you can expect the process of buying a home to come with a lot less stress and worry.