Patrick Russo, Realtor®'s Blog
As a homebuyer, you may want to consider the seller's perspective before you submit an offer to purchase your dream house. That way, you can boost the likelihood of receiving an instant "Yes" to your homebuying proposal.
Now, let's take a look at three tips to help you analyze the seller's perspective.
1. Review the Prices of Comparable Homes
Once you find your dream home, you may want to take a look at the prices of comparable residences in the same city or town. This housing market data can help you narrow the price range for houses in a particular area.
With insights into the prices of houses that are similar to your dream home, you can put together a data-driven offer to purchase. Perhaps best of all, you can avoid the risk of submitting a "lowball" homebuying proposal that misses the mark with a home seller.
2. Assess the Housing Market
The current state of the housing market may have far-flung effects on how much you should offer to pay for a residence.
For instance, in a buyer's market, there is an abundance of available houses and a shortage of buyers. This often means buyers can browse dozens of outstanding houses and won't necessarily face steep competition to acquire the right residence at the right price.
On the other hand, a seller's market favors sellers. It generally features an abundance of buyers and a shortage of top-notch residences. Therefore, if you're searching for a home in a seller's market, you may need to submit a competitive offer to purchase to secure your dream house.
Review the housing market closely so you can differentiate a buyer's market from a seller's market. If you find houses are selling quickly at or above sellers' initial asking prices, you likely are operating in a seller's market. Or, if you find houses linger on the real estate market for many weeks or months and sell at or below sellers' initial asking prices, you may be working in a buyer's market.
3. Collaborate with a Real Estate Agent
A real estate agent is a homebuying expert who can provide you with housing market insights that you may struggle to obtain elsewhere. Plus, he or she can help you evaluate the seller's perspective so you can submit a competitive offer to purchase the home of your choice.
Let's not forget about the assistance that a real estate agent provides throughout the property buying journey, either. A real estate agent can help you hone your home search and find your ideal residence in no time at all. Furthermore, if you have concerns or questions at any point during the homebuying journey, a real estate agent is ready to address them.
Want to purchase your dream house at a price that matches your budget? Consider the seller's perspective – you'll be glad you did. If you review the seller's perspective, you can craft a competitive homebuying proposal and move closer to acquiring your ideal house at a budget-friendly price.
Life in the cityIf you grew up in a small town, odds are you always dreamed of someday living in the city. The busy streets, the tall buildings, and public transportation that you can take anywhere all make city life feel like one giant amusement park if you grew up in the country. However, there's a lot more to city life than just the bustling atmosphere.
- Amenities. One of the main benefits of living in the city is easy access to most of the necessities of life. Depending on your location in the city you might be surrounded by hospitals, schools and grocery stores.
- Entertainment. You'll never run out of things to do or new places to explore living in a big city.
- Community and culture. In most large cities you'll find great diversity of cultures and values. If you're looking for a place you can identify with, odds are you'll find a community you can fit into within the city.
- Cost of living. This varies between cities and states, but generally the cost of living goes up in the big cities with higher rent prices, more expensive groceries and dining options.
- Traffic. You have to love being around other people if you live in a big city. Whether you're on the train or at the crosswalk, you'll always be within arms length of a group of strangers.
- Privacy and sovereignty. If you like your alone time and the freedom to do what you want with the space you have, country life might be for you.
- Peace and quiet. If you hate traffic jams and don't mind driving long distances to reach amenities, small town living could be a good fit.
- Nature and space. Out in the country there's plenty of room to roam and to experience the local flora and fauna.
Suburban lifeLife in the suburbs is meant to have the best features of the city and the country. Hopefully your town has a couple grocery stores and easy access to the highway to reach the nearest city. It will also have access to recreation parks. One downfall of suburban life is that you need to make the extra effort if you want to build the sense of community provided in the city or the connection to nature that comes with living out in the country. However, if you are the type to actively seek these out, suburban life could be the happy medium your life needs.
The home inspection may seem like a standard thing that you need to go through in the process of buying a home. Really, you’re paying for the home inspection, and it’s a huge opportunity for you. As a home buyer, you should look at the home inspection as an educational event for homeowners. You’ll learn a lot about the history of the property that you’ll be living in. From water that may have been present in the basement to a leaky roof, you’ll get to know your new home and how everything works.
When you hire your home inspector, he or she may seem like they are talking to experts. For this reason, it’s a good idea to ask questions during the inspection so that you can clarify what the inspector is talking bout.
Is This Problem Urgent?
It’s a good idea to see how soon any problems in the house need to be fixed. If the roof needs to be replaced within 3-6 months and your finances are tight, it’s something that you’ll want to know about. While home inspectors will reserve their opinions about a property overall, professionally, they can tell you how big of an issue certain things are. You may need to hire a certified professional who specializes in a certain area like plumbing or electricity for further evaluation in many cases. For your own knowledge, it’s a good idea to know what needs to be done around the property and when.
You’re never going to remember where everything is in the house on the first pass. It’s a good idea to carry a notepad with you when you’re going through the home. Make notes of any major issues, where they are, and how to fix them. This way, even after the inspection report is sent, you’ll have something to refer back to.
Is This At The End Of Its Lifespan?
Your home inspector will take a look at all of the moving parts of the home that you’re about to purchase. This includes the appliances. Is the dishwasher on its last leg? Will you need a new refrigerator very soon? Is that creak in the floor more than just a problem with a floorboard? If you find out what to expect from both the major and minor issues in the home, you’ll have a better idea of what to expect from the property overall.
Home inspectors give you an overview of the condition of a home. Inspectors will tell you that there is no home that comes completely clean when it comes to an inspection. Even a brand new home that was just built will have some issues. While it may not be the most fun to find out that your new home needs a new roof, at least you and your realtor will know what needs to be brought to the negotiation table if you decide to go through with the purchase of the home.
Deciding to put up a fence on your property may seem like a simple decision, but there are a lot of things to consider before hiring a contractor to get it done.
One question to ponder is whether your neighbors might be offended or annoyed by the sudden appearance of a fence near the edge of their property. The answer to that question would partly depend on your relationship with your neighbor, the size of your lot, and whether the fence is tasteful or an eyesore. The problem with that standard is that "tasteful" is in the eyes of the beholder!
Tall fences can and sometimes do have a way of changing the look and feel of your immediate neighborhood, so the installation of a fence could potentially cause resentment from other property owners. The decision to put up a fence on your property is a personal one, but there's also a lot of value in maintaining friendly neighbor relations. (It can be a delicate balance!)
One Step at a Time
In some places, local ordinances or Homeowner Association rules may impose restrictions on fences and other structures. Many towns and municipalities require that you (or your contractor) obtain a building permit before putting up a fence, so a quick phone call or email to the appropriate local official can shed light on requirements, restrictions, and other assorted rigmarole!
Since the cost of installing a fence can easily run into the thousands, it always pays to get a few estimates and proposals from reputable fence companies. Other decisions include choosing the best height and composition of the fence. Fencing materials range from metal and chain link to vinyl and wood. Composite fencing materials are also an option.
Your choice will depend on a lot of factors, including cost, durability, maintenance aspects, and appearance. Online information, free brochures, and meetings with contractors can help you learn more and make an informed decision.
Once you've moved beyond the potential issues of installing a fence on your property, there are several distinct advantages to fencing in your back yard.
- Enhanced privacy: While "privacy" can mean different things to different people, a tall fence offers an immediate solution to a variety of privacy-related problems.
- Pet containment: If you don't always have the time or energy to take your dog(s) for a walk in the neighborhood, it's a major convenience to be able to let them out in a contained area to relieve themselves and get a little fresh air. It can also be a good way to keep them safe and out of trouble!
- Wildlife barrier: Although there are often gaps at the bottom of fences that prevent fences from being completely wildlife-proof, a properly installed fence can drastically reduce the chances of wildlife sneaking their way into your back yard. Whether you want to protect your vegetable garden or pets from wild animals, a solid fence can be the barrier that you need.
- Increased security: While fences are not always an impervious barrier to burglars, trespassers, and other intruders, it does provide some protection from those potential threats.