5 Tips for Buying A Home In A ‘Down Market’

Okay, I probably could’ve said the ‘R’ word in the title, but I prefer to be an optimist when it comes to matters of money and our economy, so for now I’ll just stick with ‘Down Market’.

At any rate, buying a house in this topsy-turvey marketplace can be a little scary, but in reality, it might actually be THE BEST time to buy your new dream house because of the low prices we’re seeing.

It is most definitely a buyer’s market right now, which ultimately means homes that are on the market are there because their owners are serious about getting them sold.  This means there are some great deals to be had.  At the same time, you don’t want to jump into buying a house without giving it some careful thought and consideration.

So to help make sure you make THE RIGHT decision when buying your next Rock Hill SC or Fort Mill SC home, here are 5 steps to take when beginning the buying process:

  1. Get your finances in order. This step is one that most people overlook because they figure they should find the house first, then worry about financing.  Wrong!  In most cases, you’re in a much stronger negotiating position when you can present an offer that’s backed up by a letter of approval from a lender.  Sellers will take you seriously and it tells them you’re serious about buying.  Plus, it helps your home search because you’ll know exactly how much you can afford.  This will save you LOTS of time because you won’t waste time looking at houses you either don’t like or can’t afford.
  2. Make a detailed list of requirements for your new home. Are you looking for a ranch style house? A 2-story victorian?  How many bedrooms and bathrooms does it need to have?  What about a garage?  Do you want a big back yard?  Making a list of things you want and then classifying them as either ‘Must Have’ or ‘Nice to Have’ will help make the house-hunting process go much, MUCH smoother.
  3. Start your research online. The Internet is DEFINITELY the preferred method for locating potential real estate and with a myriad of choices, it’s almost impossible to NOT find a house you like online.  Start searching through many of the real estate websites like Yahoo! Real Estate, Zillow, or you could also start right here at SharonSellsCarolina.com.  In any case, jump online and familiarize yourself with what’s available.
  4. Find the right real estate agent for you. Finding the right real estate agent can make the entire house buying process either an enjoyable experience, or one that makes you want to pull your hair out.  And while there isn’t the glut of real estate agents there was a few short months ago, you still have plenty of agents to choose from. Be sure to interview several agents to find the one that you feel best understands what you’re looking for AND that you feel you can work well with.  Real estate agents have different working styles so it’s important to connect with one that matches your working style.
  5. Have fun! Remember, you’re about the buy a home that you and your family could live in the for the next 5-50 years so enjoy it!  Yes, it can be a stressful process at times, but as long as you understand what you want, know what you can afford, and have a real estate agent takes on much of the hassles and burdens, it should be an enjoyable experience.

If you’re thinking about buying a home in the Rock Hill SC or Fort Mill SC area, I’d love an opportunity to help you find that perfect home!  Plus, my focus is on helping you enjoy the process so I work very hard to make sure you don’t feel any of the hassles that go along with finding that perfect house!

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