Tips for Buying a Home

Buying a Home on Lake Martin?

 

Let's talk about Priorities.  Before you instruct your REALTOR® to find exactly the right property, make sure you know what is important to you.

    • Location, Location, Location  (Some rules never change whether you're buying a lakehouse/second home or permanent residence)
  • Consider the importance of view, deep water, protected cove or "slough", steep or flat lot, beach, seawall, boat ramp and pier.
  • Do you want a cabin or a castle?  Someone has to clean it!
  • Maintenance can be an issue if you're a "weekender."
  • The property should "fit" your family.
  • Make sure you want to drive home to this "home" every time.
  • Make sure you're proud to have your friends, family, and co-workers over for dinner or a weekend.
  • No "deal" on earth is worth your embarrassment or excuses over why you're where you are.  Don't settle for less.
    • The Art of Compromise
  • Who really needs to compromise...   Everybody.
  • There is no perfect house; every house will need some change to be "just right" for you.
  • Remember your basic priorities, don't lose a great house over the details.
  • Cosmetics are just cosmetics.  Paint and carpet can make a whole new world!
    • Surroundings
  • Your peaceful enjoyment is important.
  • Look at neighboring homes.
  • Find out the time & distance to stores, schools, church, etc.
    • The Buck Stops Here
  • Have your financing in order before you shop.  Have your REALTOR® refer you to top lenders.
  • Ask your agent to prepare a market analysis on your target home — get a recommendation for fair market value.  If you negotiate toward that number you're in good shape.
  • Remember that the same house costs you more as interest rates increase.
    • Don't Mess Around
  • Have your REALTOR® assist you in becoming educated in the market — know the areas.
  • After you've compared several homes that fit, narrow the choices to the best.
  • DON'T lose the best choice by procrastinating — if it's the best one for you, it's probably the best one for a competing buyer.