Written by Courtney Madden
In our current real estate market, it is natural to feel overwhelmed when embarking on the homebuying journey. There are many things to research and consider before you commit to purchasing a home. Our team of residential experts is here to be your partner and offer the best professional advice based on your Greenville real estate needs.
Align Your Finances and Expectations
Before you can get started on your real estate journey, there are a few things to plan ahead of time:
Choose a local lender.
First, you will need to find a qualified lender who is easily accessible and communicative. Given the current state of the real estate market, it is extremely important to have someone in your corner that you can rely on. Do your research and talk to a few different lenders before selecting one. You will want to find someone you can trust as they will be responsible for talking you through your loan options, finding a budget, and discussing the fees that you’ll need to anticipate.
Choose a realtor.
Look for a realtor who has experience, will listen to you, and knows the area you are looking to buy in. Your realtor must know your wants and needs upfront so they can set up a successful MLS search. Once you are in the system, you will be able to see properties that match your criteria.
Have a conversation with your realtor to discuss the harder things like: time frame, the non-negotiables, deal-breakers, and who will ultimately make the final decision. It is crucial that everyone is on the same page from the very beginning, as it is very likely you will need to make a quick decision and act fast when you find the right house!
Once you assembled the right team, have your finances in order, and set expectations, it is time to find the perfect Greenville home.
Consider Your Lifestyle, Timeline, and Budget
Take a step back and look at your future from a new perspective. When determining what you need out of your next home, take the following factors into consideration:
Take your likes and dislikes into consideration when deciding what features you want to have in your next home. Consider what areas of a home you plan on spending the most time in. If you enjoy being outdoors you may need to focus on the backyard whereas those who enjoy cooking may need to hone in on the kitchen. Determine what is most important to you and where you can compromise.
How long do you plan on being in this next house? If this is a short-term home, consider resale factors like school districts and floodplains. If you are investing in your “forever” home, you may want to consider opportunities for renovations, how many rooms you may need, and if it includes all the features you’ve always dreamt about.
No house is ever worth putting yourself in a bad financial position for. Before buying, take a thorough look at your finances and set up a realistic budget. In a competitive market, we recommend that you look at houses at or under your budget so don’t overspend in a bidding war.
Make a Smart Offer
You’ve found the perfect house, now it’s time to make an offer! Your realtor will make recommendations for each offer but here are a few market trends you may want to consider:
Make a cash offer.
By offering cash, you may secure a quicker close date and can eliminate a financing contingency.
Have a flexible timeline.
Many sellers in this market are concerned about purchasing immediately after they sell. Don’t back yourself into a corner where you are forced to pull out of an offer because it doesn’t line up with your strict timeline.
Work with trusted vendors.
Sellers and listing agents prefer to work with lenders and attorneys that are well-respected, experienced and are trusted within your market. Partnering with credible vendors will give everyone an added sense of confidence going into the process.
Buying a home can be a long, complicated process but our most valuable piece of advice is to remain patient. In our experience, the right houses always find the right people! Let our team help you make your home buying journey an enjoyable one. When you’re ready, contact our team of real estate experts.