Whether this is your first big purchase, or your family is moving to a new location or you are looking for more space, buying a home has its share of ups and downs. It’s perfectly normal to feel anxious about whether or not you’ve found the right property. In fact, this “purchase anxiety” can even be found when buying home after home as a Real Estate Investor. The question is, is how can you calm your nerves, seal the deal and make the right decision?
Do The Math
You’ve probably already done this, but it’s okay to go over it a number of times to be sure. Factor in your household income and all the bills you expect to pay every month. Add everything up. It sounds like a stressful activity, but when you look at the numbers and realize that buying a home is actually doable, it can be a liberating feeling. When you know for sure you can make it as a homeowner without getting underwater, you will feel more confident. As an Investor, the numbers are also the key! If the numbers do not work then get out! It is as simple as that!
Meet The Neighbors
If you haven’t had the chance to knock on a couple of doors yet, you should spend some time saying hello to people in the neighborhood. The more you can get to talking with families that are just like yours, the more you will be able to picture yourself as a member of the community. If you have kids, find out if there are other kids the same age nearby. That will help to ease their anxiety about moving as well.
Ask Your Agent
Don’t feel like you are being overly cautious if you ask your real estate agent your lingering questions. Make sure you’re getting a good price for the area, and make sure you know about any issues with the condition of the property. You should be able to trust that they’re excited for your decision, not just for making the sale. Have your Agent provide the Comps, a CMA. A CMA is a professional report that real estate agents give to their clients which is generated by a computer program from your agent’s multiple listing service (MLS). This report and the MLS will give data which includes tax information, sold transactions, and in the area. Educate yourself on those properties around you. If any are on the market take a walk-thru. This will help you determine the value of the home you are looking at As Is, what you may or may not need to do to in upgrades to get additional value and equity in the home long term or even short term if you are an Investor. Educating yourself with these tools will help you plan your exit strategy and allow you to get more comfortable with the decision you are about to make.
Familiarize Yourself With The Neighborhood
Take a drive and figure out which stores you’re nearest to, the route you can take to get to work, and which other amenities you might take advantage of. Home buyers often underestimate how important living in a safe neighborhood with plenty of accessible businesses can be. The more you can imagine yourself living at your new address, the better you will feel.
Remember, never sign the papers on a new home unless you feel one hundred percent secure in your buying decision. If you need more answers, pick up the phone and call us here at Clean Green Real Estate today at 724-207-1129! We would be honored to help walk you thru the process. Our consulting services are free! We have a great Team of reliable Agents, Mortgage Lenders, Closing Companies…etc that we can refer you to. We look forward to serving you.