Zeroing in on a Property? Don’t Major in the Minor Things

Zeroing in on a Property? Don’t Major in the Minor Things

Quite simply, there may not be a more joyful experience than settling in a house you can call your own. That certainly is a worthy goal for most couples in America. And yet, things may not be as they used to be. Where baby-boomers are bent on saving up to buy a house as quickly as possible, millions of millennials are waiting it out. Instead of settling down, many young generation internet natives enjoy their time. Not prioritizing marriages, millennials are also not in a hurry to get those house keys.

Still, if you’re on the hunt for a home to settle, and want to own it over the years, make sure you don’t commit blunders along the way. While the internet has indeed made buying a lot easier, there’s a good chance you could be shooting yourself in the foot. The key to a good buy is knowing what to look for in a property when considering it. If you don’t know the essentials, you could be missing the forest for the trees.

Missing the Bigger Picture

Right from the get-go, know that every house has its little imperfections, no matter how stunning it is. While all these may catch your eye and make you squirm, putting your focus on minor details can be counterproductive. It might jeopardize your deal.

Simply put, don’t get hung up when you see these little imperfections. You won’t even have to mention it to the real estate agent. By now, you should know these things can efficiently be dealt with.

A good example is an interior paint. While we all have our artistic side, not all will share the same tastes with you. And chances are, the seller may have their preferences as to how the property should look.

Avoid making it into an issue. Of course, you won’t have to start flipping houses. Although there is a good business in flipping homes, doing a major renovation is another thing entirely. That is something that you should not be blind to.

What are the examples of minor things that you should not major on when zeroing in on a property?

Top of the list, of course, is the paint job. Don’t mind it, as it can quickly be resolved. Next is the furnishings. The sofa and whatever-unsightly-furniture you find can be an eyesore, but it can also be irrelevant. You can easily change them.

Sometimes, you will find outstanding houses with bad front yards. It doesn’t look very good. The garden is not well-maintained; the landscaping is off. Word of advice: take a deep breath and move on.

The front yard is one thing you can renovate over time. Don’t mind it. Instead, use it as a bargaining chip. An ugly front yard can be placed on the negotiating table. You can ask the seller to lower some price points. But don’t push it. You might lose the sale.

Things You Should Focus On

First stop: know how big is your purse. Ultimately, the price will set the tune for the options in your buy. Don’t break your heart by setting your sights on something that is beyond your current financial situation.

In this sense, you might want to seek the help of a reliable mortgage broker. Take note that the expertise of an experienced loan professional cannot be overemphasized. This is especially true when you’re a first-time homebuyer.

As substantial as taking out a loan for real estate is, the process can be messy. A mortgage broker will ensure you get a deal that fits your needs and within your budget instantly.

Next is you should put a priority on location. If things don’t go well and you find yourself unable to get your desired location, make sure you get a place that fits your specific lifestyle.

Think of your daily commute. Is the location accessible to public transportation? Is it near a downtown? Downtown area properties have better resale value. How about the community? Is your site close to a restaurant or grocery shop? Consider spending time hanging in the area to check things out. How about school? How far are you from a grade school? If you plan to have kids, a school nearby is a treasure trove. Then look into the house itself. Are the kitchen and the bathrooms functional? Is the house expandable, and is there a room for guests?

Identify structural weaknesses in the property. Renovation costs can certainly add up. One thing you should not do, though, is let little details get in the way. Focusing on the major is a must. But putting minor things as major ones must be avoided.

When you do that, you’d be glad you do. Your attention is focused where it should be. In the end, you’d be settling down on a property you love in no time.