Are You a Smart Property Buyer?

by Kathy Murphy 11/24/2019

Purchasing a home may prove to be an arduous process, particularly for those who fail to plan ahead for the property buying journey. Thankfully, there are many quick, easy ways to streamline the homebuying cycle.

Now, let's take a look at three tips to help you become a smart homebuyer.

1. Study the Real Estate Market

A smart homebuyer realizes the housing market fluctuates constantly. In fact, a real estate market that favors sellers today may favor buyers tomorrow, or vice-versa. But if a homebuyer reviews the housing sector closely, he or she can differentiate a buyer's market from a seller's market and plan accordingly.

Oftentimes, it helps to analyze the prices of recently sold houses in your preferred cities and towns. This will enable you to see whether houses are selling at or near their initial asking prices. It also will allow you to find out how long homes are available before they sell.

2. Obtain Home Financing

A smart homebuyer understands the importance of getting a mortgage before he or she pursues a residence. Thus, this buyer will meet with lenders and get pre-approved for home financing to further accelerate the homebuying journey.

Generally, it won't take long to get pre-approved for a mortgage. Banks and credit unions employ friendly, knowledgeable mortgage specialists who can help homebuyers quickly analyze various home financing options. These specialists can teach you about a broad array of mortgage options and help you weigh the pros and cons of different mortgages. Then, once you evaluate all of your mortgage options, you can select a mortgage and kick off the homebuying journey with a budget in hand.

3. Hire a Real Estate Agent

A smart homebuyer knows that working alone to find and purchase a house can be difficult. Therefore, this buyer will allocate time and resources to hire a real estate agent who can provide comprehensive assistance throughout the homebuying journey.

Typically, a real estate agent is a must-have for a homebuyer, regardless of the current housing market's conditions. A real estate agent understands the ins and outs of the housing sector and is happy to share his or her expertise with any homebuyer, at any time.

When it comes to navigating the homebuying journey, a real estate agent is ready to help you in any way possible. For instance, if you need help finding a residence in a particular city or town, a real estate agent will make it simple to narrow your house search. On the other hand, if you want to buy a new house as quickly as possible, a real estate agent will ensure you can discover your dream residence on your timeline. Best of all, a real estate agent will respond to any of your homebuying concerns and questions and help you make informed decisions at each stage of the homebuying cycle.

Enter the housing market as a smart homebuyer – use the aforementioned tips, and you can increase the likelihood of enjoying a successful homebuying journey.

About the Author

Kathy Murphy

Kathy Murphy, an experienced Realtor, loves her job and the people she meets. Kathy previously worked for General Motors for many years as a Global  HR Manager. One of her certifications and strengths was as a negotiator, so you definitely want her on your side during any transaction.  Kathy has her undergraduate in Business from Michigan State, as well as her MBA.

Kathy has won numerous awards in her role as a Realtor, notably a Pinnacle Quality Service Award every year she has been in the Real Estate industry. Thank you to her many clients that are responsible for this honor based on their feedback.  Kathy has also been named an HOUR Magazine Real Estate All Star.

Kathy excels at her people skills, quick communication, availability, and her knowledge of the market.  Kathy truly listens to her clients as she helps them think through and articulate  their wants and needs...and then she finds them their perfect home.

Give Kathy Murphy a call when you begin thinking about moving.  Kathy will provide advice on your current home which can save you hundreds on repairs you don't need to make when preparing your home for sale.

Downsizing?  My specialty!  First time home-buyer?  My passion! Moving on up? My dream!!