Make Homeownership a Reality in 2015

Make Homeownership a Reality in 2015We've spoken to a handful of prospective homebuyers this year who are interested in becoming homeowners for the first time. Some have dipped into the market before without success, resolving to intensify their search in 2015. Some are venturing into the market anew in an effort to get out of their renter's trap, or to broaden their equity.

Whatever your case may be, there are 3 strong ways Zillow suggests you can make owning a home a reality in 2015.

Enlist a professional

Phase 1 of home shopping is what we like to call the "dream phase" - looking at online listings, researching mortgage options, running numbers, asking questions, identifying optimal neighborhoods or home features, and all-in-all getting excited about being a homeowner.

Jumping to Phase 2 - taking action on these dreams - is best done when you team up with a real estate professional. Agents serve as your knowledgable liaison in your homebuying process. Professional real estate agents are armed with a plethora of market knowledge and have completed countless successful transactions in the past in order to make your process as smooth as possible.

Use the experience of a real estate professional to your advantage.

Use a combination of feelings and data

A homebuying process can be overwhelming at times. There is a lot of information (and sometimes conflicting information at that) which can create confusion. There are both emotional and practical implications that first-time homebuyers are often unprepared to deal with.

Say you walk through a newly renovated designer kitchen and begin to imagine yourself living there. Reconciling these feeling with (potentially) conflicting data can be a challenge.

Working with an agent will help you develop a blend of market knowledge and personal instincts to help find the property which mutually satisfies both.

Abandon your "getting a deal" mentality

We're all used to bargain hunting. Real estate, however, does not lend or bend itself to bargain hunters.

Think about buying a car. Before you head to the dealer, you will likely research car prices online to understand the range of values. You will then attempt to find a car on the lower end of the value range, and if you can't find one, you won't purchase it. Will you wait another year to see where the prices are? It is unlikely. You will instead make a car purchase based on the best deal of the time.

Home buying follows the same trajectory - or, at least, it should. Buyers that take the time to learn the real estate market are able to have a realistic view of what properties they desire are worth. This mentality is far different than simply "getting a deal" on a property. The market is a competitive one, and buyers are well educated.  If there's a "shiny penny" hiding in a sea of lint, there's something more going on than meets the eye. 

Work with an agent to truly understand the market, and look to find a property on the low end of the price spectrum for your desires. You will then come out on top.

Looking to buy your first home? Don't hesitate to send us an email or give us a call! We'd love to help.

Real Group Real Estate

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