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Focus on your 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.
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Where the rubber meets the road...
- 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.
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First Time Home Buyer Guide
