Your Real Estate Buying Strategy | Real Estate Industry Blog

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Buying a home can be a bit stressful but it is also very exciting.? Whether you?re a first time homebuyer or a move up buyer. The key to reducing your stress and successfully finding that ?perfect home? one that matches your wants, needs, and budget is to have a home buying strategy.? This home buying strategy will keep you focused and in line with your objective. It can also function like a marketing strategy does for a business. It contains the important, prioritized tasks, outlines your objectives, your must haves, your financial budget, your move in timeframe, location, and much more.

This may sound like a lot of work but if you take the time to put together a home buying strategy and then share it with your Collin County real estate agent, you will find out that the goals you have set will bring you closer to finding exactly what you are looking for and usually in a shorter period of time. Creating your home buying strategy:

To get your home buying strategy organized; you start by taking notice of the home you currently live in. This gives you the opportunity to note both the pros and cons. Make sure you write it all down. Then write down your ?must haves?, ?love-to-haves? and ?absolutely not?s?. Write your list on notebook paper and place it in a three-ring binder and share it with your Realtor. In today?s digital era there are many useful tools and apps that can help you with house hunting. Whether you are searching for Tarrant County Real Estate or Denton County real estate creative and social websites are wonderful for saving website links and photos to various sites that you organize in categories. Even if you keep digital files, also keep the paper binder handy as your Realtor will give you a lot of paperwork and having it all in one place will make it easy to find a particular document.

Talk with a mortgage lender. Do this before you start to go out and look for homes. Seeing lots of different homes can be interesting and fun but seeing homes that you don?t qualify for is a lesson is frustrating and a waste of time for everyone. Be realistic and be informed by getting the information you need from a mortgage lender who can get you pre-qualified.

Make categories in your binder. Separate sections with tabs and label them things like: favorites, budget, neighborhood, comps. This is where you can place all the notes you take during house hunting. The budget section will clearly have the price point that you are comfortable with. Amazingly, some home buyers start their search without giving consideration to this and they wind up frustrated because they?re not certain how much home they can afford to buy. This budget section should also include other expenses that go with owning a home such as amounts for household repairs and maintenance.

Take a camera, video recorder or your smart phone to capture your own photos that you can print out and put in the favorites section of your binder. For the community section, make sure to take a few photos of parks or other areas in the community that make this neighborhood and location a good potential match. There are apps that can do this on your computer but both the use of a physical binder and digital tools to be the most effective. In the comps section, you will place the comps that you receive from your Realtor. Sometimes buyers will toss this information away thinking they?ll remember the details. However, it?s best to keep any comps you receive to review it again later when you?re making your ultimate choice.

Having all the paperwork and your apps at your finger tips will provide you with a solid and effective home buying strategy that allows you to focus on finding the home you?re looking for rather than searching for papers and photos you?ve misplaced. Also, later when you may be referencing the photos and notes that you?ve taken will help tip the scale and help you choose the home that?s best for you.

Source: http://www.wannanetwork.com/2012/09/16/your-real-estate-buying-strategy/

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