8 Critical Things to Do Before Buying a Home

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Before you actually buy a home, there are a few things you need to take care of. More specifically, there are 8 critical things you need to do to ensure your home purchase goes smoothly:

1. Crunch your numbers: Know what you are financially capable of affording and get a pre-qualification or pre-approval from a lender before you start looking for homes to buy.

2. Know your credit score: When you talk with that lender, make sure you know where your credit score is and what you can do to bump it up a bit. The better your score is, the better rates and terms you will receive.

3. Get a down payment: There are a few lending programs out there that allow you to get a home with 0% down. However, the more you can put down on a home, the better rate you’re likely to get.

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Don’t stretch yourself to make payments.

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4. Get educated with a local home buying seminar: There is a lot of information out there you can learn about how to buy a home intelligently and how to stay objective throughout the process. Attending one of these seminars can really make the buying process simpler.

5. Interview real estate agents: Ask them questions like how many homes they’ve sold, how long they’ve been in the business, and if they do real estate full-time. You want someone who has a great track record and is easy to work with.

6. Ballpark closing costs with your lender: After you’ve figured out your down payment, figure out the total amount of money you’ll need at closing. Closing costs aren’t cheap, so you want to make sure you’re prepared beforehand.

7. Consider any future financial problems: Make sure you will be able to handle your payments if for some reason you suddenly lose your job or income.

8. Live below your means: Don’t stretch yourself to make payments. You want to be able to consistently make them, and having a lower payment will make things easier.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you!

Five Ways to Avoid Buying a Money Pit

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When you buy a home in Flathead Valley, you don’t want to end up getting trapped in a money pit. Here are five ways to avoid buying a home that will leave you with a headache and expensive repairs.

1. Get a thorough home inspection. Once you’ve found the perfect home, get a qualified home inspector to come in and take an in-depth walkthrough of your property. Talk with them at length about what is wrong with the home and what your options are.

2. Read the reports and disclosures. Take time to thoroughly examine the report you get from the inspector, and make sure you have all the necessary disclosures from the seller so you know everything you possibly can about the condition of the home.

3. Get multiple bids on repairs. If you end up coming to an agreement with the seller that you will make some of the repairs, make sure you get multiple bids on them. 

4. Don’t get too overconfident. Be skeptical when buying. Don’t let little things get you down about a home, but make sure you’re not buying something that will be more trouble than it’s worth, either.

5. Prioritize price reductions and credits over seller repairs. If a seller reduces the price or gives you credit for repairs and it doesn’t affect your financing, don’t worry so much about having them fix everything.

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Be skeptical when buying.

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These are all great tips to remember, but the most important one to keep in mind is that you need a great home inspector. If you have any questions for us or would like a recommendation for an inspector, give us a call or send us an email. We can’t wait to hear from you!

Avoid These Mistakes When Buying a Home in the Flathead Valley

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Looking to sell in the Flathead Valley? Get a free Home Price Evaluation

As a local real estate professional, I frequently see buyers make three common mistakes. These mistakes can easily be avoided if they’re identified ahead of time! Don’t make the same ones.

1. Not getting pre-qualified for a loan. Understanding what you can afford is huge in the buying process. Many people struggle with this especially. Work with a quality lender and know your target price range. 
2. Not getting a home inspection. This can be easily done before you even list. Time is crucial and it’s rewarding to address and resolve repairs as soon as possible. A private contractor can help you do this efficiently and quickly. Play it safe!
3. Not knowing your market. If you’re not familiar with the local market, hire a Realtor to help you. It’s important to understand what homes are selling for. That’s how you effectively, competitively price your home and earn top dollar. Examine the differences and know real estate in the surrounding area.

If you have any questions about this topic or anything else real estate related, reach out to me today! I’m happy to help serve your real estate needs in the Flathead Valley.

How to Handle a Multiple Offer Situation as a Home Buyer

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Looking to sell in the Flathead Valley? Get a free Home Price Evaluation

If you’re a home buyer in the Flathead Valley, you might find yourself in a multiple offer situation. Homes in the $300,000 and under range move quickly. It’s the most popular price range in our area. Buyers are outnumbering the amount of properties available. However, there are a few ways to make yourself stand out as a potential buyer.

Be a cash buyer or pre-qualified for a loan. Sellers want to know from the start you can successfully finance a home. Often, deals don’t work out because of financing. Bring a pre-qualification letter if you plan on getting a loan.

Minimize contingencies if possible. Make sure your dates and circumstances are reasonable to the sellers. If not, it could break the deal entirely.

Ensure the property is the home you want. Before you expend the energy, think about how committed you are to this home. It should be the one you want! Put your best foot forward and make the best offer you can. If it’s meant to be, it will be.

If you’re thinking about buying a home this year, send me an email or give me a call. Let’s talk about it!