Becoming The Owner Of Your Dream Home

Everybody will have a different image in their head when picturing their dream home. Some will picture a huge mansion. Some will picture a simple detached 4 bedroom home. Others may have their eye on a quirky little apartment, or even a hobbit house! No two people’s idea of their dream home will be the same. You can become the owner of your dream home, but there are a number of different ways to go about it. Whether you’re buying your first home or this is somewhere you’re going to be moving to from another place, this post will give you lots of useful information.

Speak To Your Local Estate Agent

When on the hunt for your dream home, it’s a good idea to chat with your local estate agent beforehand. Some homes are sold before being even put up on the market, so you’ll find a much better selection here than you would if you were to search solely online. If you let it be known that you’re a serious buyer and you’re friendly with them, they might even be willing to give you a heads up when something in your price range and preference becomes available. They could even give you more inside information, such as how many people you’re up against.

Search Online

Searching online for your dream home is important too. You’ll find a bunch of different types of homes because of the different platforms you’re searching on. Make sure you’re using platforms that you like, and can easily compare different homes in your area with. You should ask yourself questions as you browse. Do these homes hang around for a while, or do people snatch the sellers hand off to own them? Bear in mind that asking prices are usually the seller being optimistic, so there’s room to haggle them down and get a better deal. Just be sure you’re not about to insult anybody!

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Before Making An Offer, Check Out The Neighborhood

Before you even think about putting in an offer for your supposed dream home, check out the neighborhood. This might be your dream home, but the neighborhood might be a nightmare. You just don’t know what’s going on at all hours of the day, what your neighbors are like, or what the other houses look like. It’s so important that you check this out before you have your heart set on a place. Not only should you check out the houses in the area, but the shops, restaurants, and other amenities too. Really explore so you can get an idea of what kind of area this is.

Research What’s Planned In That Area

Do your research on what’s planned in the area you’re thinking of buying. After all, you’d be devastated if the house and neighborhood were perfect for you in every way, only to realize there’s an eyesore being built right across from you. You don’t want to see that every time you look out of your window, do you?

Research The Risks

Are there any risks in the area? For example, some areas are more prone to flooding than others. You might think that this isn’t too serious, but you can find many people out there who deeply regret buying a property in an area with a flood risk. There are a number of free sites you can use to gauge how at risk your property is. Bear in mind that if you do buy, this is going to have a significant increase on your home insurance premiums.

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Ask The Right Questions To Sellers

When you’re thinking of buying a property, you really need to get as much information from the sellers as you can. You need to know as much as possible so you’re better equipped for buying the right property for you. Being armed with the right questions will help you to do this. Make sure you write down the answers. If you ask any serious questions, you might like to get the answer in writing from the seller, too. Here are some of the most important questions that you should ask:
  • Has anything bad ever happened here?
  • How long has the seller lived here?
  • How old is the boiler?
  • What renovations have been made to this property?
  • How long is the lease?
  • Are there any problems with the neighbours?
  • How many viewings has the property had?
  • How many offers has it had?

There are more you may like to ask, so make sure you go in armed with them so as not to forget.

Don’t Be Afraid To Take Pictures When Viewing

When viewing a property, don’t be afraid to take pictures. Looking at the pictures the seller has taken is all well and good, but they aren’t going to highlight things you may need to fix, repair, or redecorate. Taking pictures of things you like and don’t like will help you to better compare different properties later on, and make sure you don’t forget anything. If you fail to do this, it’s easy for all of the properties to blur as one in your head. It’s polite to ask the seller/estate agent first, but they should agree.

Be Aware Of Any Deal Breakers

There are some things that you should consider deal breakers, no matter how much you like the property in question. If a neighbours property isn’t up to scratch, for example, you need to remember that their problems can become your problems fast. You should also check for things like:
  • Damp ceilings
  • Chips and cracks
  • Missing tiles
  • Signal on your mobile
  • Working locks
  • Functioning plumbing

Speak To Your Potential Neighbours

There’s nothing wrong with speaking to your potential neighbors before going out and putting your money down on a property. You can see if they are friendly, or if they can give you any good advice on the neighborhood/property before you buy. They could help you to make a better decision.

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Are You Willing To Make Sacrifices?

In some cases, you may have your eye on your dream home, but be unable to afford what you need to pay. In cases such as this, you may need to make sacrifices. Perhaps you could downgrade your TV package. Maybe you could trade in your car for a more cost effective model. Where can you cut back to help you become the owner of your dream home? Of course you still want to be able to live a comfortable life, but making a few small changes could mean you live in the home of your dreams.

Be Smart With Your Real Estate Choices

If you don’t have a lot of money to your name right now, it’s still possible to become the owner of your dream home. However, you must take your time and be patient. It could be a case of buying a cheaper home for below market value, then adding value to it. When you sell that home at the right time, you should have even more money than you had to start with. If you continue to save money in the meantime too, you will be able to upgrade your property. Eventually, you should find yourself in your dream home. It may take years and years to get to where you want to be, but looking to the future when it comes to real estate is key.

Get Pre Approved

Getting preapproved for a home loan is the best way to go about hunting for your dream home. This way, sellers will see you as more serious buyers. Work on getting preapproved before you start house hunting so that sellers are inclined to take you more seriously. Speaking to places like SMBIA brokers before you begin your search will help you to make more progress.

Be Flexible

OK, so you may not be accepted for the offer on your dream home. This is why being flexible is so important. You have to remember that there are many other houses out there that you could happily live in. Staying detached from the outcome and believing there will be a better property for you out there is important.

You can become the owner of your dream home if you are smart. Saving up as much as you can and getting pre approved will help you before you search. When you begin searching, looking at homes in your budget will help you to be realistic, even if you plan on selling for more and upgrading later on. Getting advice from your local estate agent will help to keep you in the loop and up to date with the newest homes in your area before anybody else. Asking the right questions and being smart as you search will stop you from buying a property that isn’t all it’s cracked up to be. Becoming the owner of your dream home can take time, but it’s entirely possible! If you have any information you’d like to share, leave a comment below!