3 Tips to Buying a Home in 2013

The real estate market is constantly changing. Over the past few years we have see a lot of ups and downs here in Northeast Ohio…

  • An abundance of Short Sales and Foreclosure

  • Investors coming out of the woodwork to flip homes to sell or rent

  • Depreciation of home values in some areas

  • First-Time Home Buyer Tax Credit Incentives

  • Great deals for Buyers

  • Low Interest Rates

  • and more…

 

This year we are seeing a completely different real estate market. The inventory is a little lower, home prices are a little higher, and interest rates are changing. It looks like we are headed into a more stable market.

So what do you need to do to be ready to buy a home in 2013? Here are 3 easy tips…

1. Find a Lender

Having an experienced, reliable lender is one of the key factors to a smooth and successful home buying experience. Here are a few things to look for in a lender…

  • Help you choose the right loan for you

  • Educate you on what your options are

  • Help to prepare you for what you need to do and know along the way

  • Communication is key!

2. Find a Real Estate Agent

Some buyers do research and ask around to find their real estate agent, some do not and just start working with the first agent that comes along. You might get lucky, but the better option would be to find an experienced real estate agent. Don’t be afraid to interview several agents before choosing one that is right for you. Afterall, this is one of the biggest purchases you will ever make! Here are a few things to look out for in a real estate agent…

  • Know the area

  • Testimonials

  • Communication

  • Buy incentive and options

  • Prepare you for what to expect along the way

3. Educate Yourself

It is important to do a little research and educate yourself before diving into the housing market this year. So start “googling”, interviewing lenders and real estate agents and get the info you need up front before settling down. Here are a few tips…

  • Where do you want to live?

  • What down payment do you need?

  • What are the costs involved in buying a home?

  • Make a list of things you HAVE to have, WANT, and DO NOT WANT in your next home.

  • Who is involved in the final decision? Get them on board.

  • Interview Lenders

  • Interview Real Estate Agents

  • Check your credit score

There are a lot of questions you might have about the home buying process. Make sure to ask the professionals and choose people who will support you along the way.

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