Daydreaming about owning your home and actually putting your money where your daydream is can be a challenge for buyers, especially first time buyers.
Watching HGTV and flipping shows makes the buying process look easy…. just a few renovations and affordable DIY projects and voila you have your dream house! In reality, buyers need to understand how a home that doesn’t currently come anywhere close to “dream” status could be whipped into shape and how a home they think is perfect now might end up feeling like a mistake in a few years.
According to Estelia Mesimer, RE/MAX Metro agent in St. Petersburg, Florida, in order for first-time buyers to avoid such an unfortunate scenario, they need to think carefully and weigh all of their options. With the experience and expertise of a Buyer’s Agent, you’ll be well-prepared to choose a house that feels like home today and for years to come. Here are a few key areas to focus on.
You need a home you can afford. There’s no sense in deciding that you must have four bedrooms when the most you could afford is two. Do some research of your area’s current housing market and think about the down payment size and your financial shape. Your real estate agent can refer you to a mortgage broker so you can get a realistic idea of what you might need to spend and what you can afford to spend on your new home.
Beds, Baths and Size
You know the size of your household and whether it’s likely to grow in the future. You also know how much space you’re likely to need based on your current living situation. For example, if you work from home, then your desire for a little more space and a home office might be non-negotiable. On the other hand, if you commute to an office every day, you may not need a home office at all. Figure out the minimum number of bedrooms and bathrooms you’ll need in any home you buy.
First-time buyers need to think beyond a school district when choosing a home. Ask yourself: how close is your home to major highways in the area? How close are you to work? Are there nearby shopping malls, parks, restaurants, and grocery stores? Remember – you’re buying a neighborhood just as much as you’re buying a home.
Once you have a handle on your basic requirements for a home, you can begin thinking about amenities/features… a garage to store your car and tools, a fenced in yard for children and pets or a deck for entertaining and lounging. Figure out which special features are “nice to have” and which that are “must haves”.
Is This House a Bargain? Here is where having a Buyer’s Agent on your side is so important.
When faced with the choice of a home that seems like a bargain but requires renovations and a home that is more costly but requires little if any work, which do you choose? This is when having an experienced Buyer’s Agent can make all the difference in understanding whether a home’s condition is really worth the savings. According to Estelia Mesimer- RE/MAX Metro agent in downtown St. Petersburg, FL, there could be good reason why the home is listed at a bargain price – such as the repairs being too expensive for anyone to reasonably fix. As someone who is familiar with homes in the area in various states of condition, a professional real estate agent is critical at this stage of the buying (and negotiating) process.
Bottom line: Buyers, especially first-time buyers, need an expert real estate professional to guide them through the purchase process and all the “legalese” that comes with it.
St. Petersburg Communities
If you’re interested in any of these of communities or live in one of them and are thinking of selling, call Estelia today!
Greater Pinellas Point
Historic Old Northeast
Historic Roser Park
Isla del Sol