10 Things I Wish My Realtor Would Have Told Me
Ah, home ownership—the dream we all chase. Owning your own home is freeing, but it certainly catapults you quickly into the adult world of bills, brokers, and banking. There are so many things to know before buying a home, and even if you have owned and sold homes in the past, there may be things that your realtor never revealed to you.
Here we attempt to share with you the tricks of the trade, and perhaps the secrets behind the scenes, revealing what may really be happening when you hire your realtor. Here are the top then things that you will wish your realtor would have told you:
1) Spend A Bit More Than You Planned
While this seems to defy logic, there is some merit to spending a wee bit more than you initially intended. Say your budget is $250,000 USD. Well, it really won’t break the bank to buy that dream house for $275,000. Why?
Well, for one— your monthly mortgage payments will really only be around $15-20 more per month (depending on interest rates). Perhaps just give up your daily high-end coffee? Plus, that dream house has everything you want; it has the granite countertops; the walk-in closets; the finished basement. These are the things you will eventually add to the less expensive house; thereby, spending that $275,000 in the long run. (Although, always be sure to stay within your means—see affordability calculator below)
2) Buy In A Growing Neighborhood
Maybe you are single and buying your first home. Most likely, this isn’t going to be the home you raise kids in. We still encourage you to buy in a growing family neighborhood where schools are established or are in the phase of being built.
This is the perfect investment scenario. A home where families are flocking and schools are growing is only going to go up in value. So buy that family home even if you don’t plan on staying in it for the long haul—your wallet will thank you in the end.