Introduction: How to Find Houses to Buy
Making the decision to find a house to buy is one of life’s most exciting adventures. But finding houses is anything but easy. Discovering how to find a house to buy that will become the home you and your family spend the majority of your time in should not be taken lightly.
One of the biggest mistakes that first-time house buyers make is falling in love with the first house that they see. For those who have been living in rented apartments, the appeal of finding houses that could become a true home often leads people to impulse buy. When trying to find a house for sale, the most important thing is to take your time, search multiple locations, and understand that finding a house to buy is one of the most important decisions you will make in life.
In this brief overview, we will give you a thorough list of things to consider when trying to find a house for sale. We will also look at why it is important to shop the market in order to find houses to buy and where you should be looking in order to find a house for sale that suits your needs.
We will also offer five important keys you need to consider when thinking about how to find a house to buy. Before making an investment of a lifetime, take some time to get prepared so that you can enjoy the place where you will be spending the majority of your time.
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Why It’s Important to Search the Market for Finding Houses
Imagine a college graduate searching for houses to buy. After finding one that seemingly fit all the items on the checklist, she invested all she had and took on a 30-year mortgage. But this college graduate wasn’t a skilled planner and didn’t shop around to find a house for sale.
After five years, her job asked her to relocate to another region, and she began to try to sell her home. What she didn’t know, however, was that her home was in a low equity part of town and the house was located in a flood plain which drastically reduced its value.
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Potential buyers who were trying to find a house to buy would only offer her half of her asking price. Eventually she was forced to sell at a loss and couldn’t use her equity in order to find a house in her new location.
It is important to take your time when trying to find houses for sale because market prices can and often do fluctuate rapidly. The change of value in a home can wipe out your savings if you don’t take into consideration the long-term value of a home when you are searching for houses to buy.
Furthermore, it is important to understand that when you are looking for houses to buy, there are usually a lot more options available than what you originally discover. A realtor may tell you that the housing market in a particular area is tight or competitive, but with a little patience and determination, you usually should be able to find houses for sale in pretty much any location.
Furthermore, researching comparable sales in the area where you are looking will help you get an idea of what the market price is while you are finding a house to buy. Remember that knowledge is power when it comes to finding houses, and you shouldn’t simply depend on the word of a real estate agent or a seller.
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Where to Look to Find a House for Sale
As recently as twenty years ago, most people would have simply called up a real estate agent when they began looking for houses to buy. Those free real estate magazines that were offered outside the doors of every grocery store were the most effective way to find houses for sale.
In today’s world, however, there are a number of online tools to help you in your struggle to find a house for sale. While real estate agencies can still be helpful, many sellers have gone back to the for-sale-by-owner strategy and use online real estate websites such as Trulia, Craigslist, and Zillow.
According to US NEWS, it is “now possible, with a click of a mouse, to find the sales price of the home next door, search for listings in a given school zone, and take virtual tours of homes you’re interested in,” all from the comfort of your living room.
With these new online tools, real estate agents are more negotiators and guides than the secret guru of old who held the mystery of houses for sale on the market.
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Websites like Trulia and Zillow sell ad space to real estate agents in the area where the houses for sale are listed, but if you are a savvy enough, you may be able to directly negotiate the sale with the individual seller.
Even though these new online tools are helpful, it is also important to not forsake the more traditional ways of finding a house to buy. Simply driving through the countryside, you may find that dream home at an affordable price simply marked by a tiny “for sale by owner” sign on the front lawn. Not everyone is on the Internet these days, so it is important to not limit your search for houses to buy to the internet alone.
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5 Keys to Finding a House to Buy
There is no magic potion when it comes to finding houses to buy. Some people may search for years and never find exactly what they are looking for, while others may stumble across a bargain the same day they begin to look for houses for sale.
There are, however, two rules that all potential home buyers need to be aware of: don’t get desperate and never drag your feet when you have found what you are looking for in a home.
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It can be frustrating when, after months of looking, you still can’t find a house for sale to your liking. Your current lease may be coming to an end, and it is understandable that desperation could set in. But desperation rarely leads to good choices. If you do move into a house you end up despising, the transaction costs alone of trying to resell it will be costly. And you may not even be able to sell it quickly.
On the other side of the coin, there are those of us who get so infatuated of finding the perfect house to buy that we drag our feet when a possible sale is on the horizon. Always make careful and well thought-out decisions when it comes to finding a house to buy, but too much procrastination can lead to losing out on the property. Imagine almost convincing yourself that you have found the perfect house for sale only to discover that someone else beat you to it.
There is no formula for how to find a house to buy, but by following the five tips below, you should be able to find a house to buy that meets most, if not all, of your dreams and expectations.
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Find a House You Can Afford
One of the biggest mistakes many people make while trying to find houses for sale is looking outside of their budget. Owning a home is an expensive venture. When your air conditioning unit suddenly fails in the heat of summer or a water pipe bursts and floods your basement, will you have the extra income to get the repairs done while not falling behind on your mortgage?
When you are looking to find a house for sale, it is important to understand your limits and not take on a debt load that will be punishing for years to come.
According to Investopedia.com, “once you’ve fallen in love with a particular home, it’s hard to go back. You start dreaming about how great your life would be if you had all the wonderful things it offered—the lovely, tree-lined streets, the jetted bathtub, the spacious kitchen with professional-grade appliances. However, if you can’t or won’t be able to afford that house, you’re just hurting yourself by imagining yourself in it.”
Find a House to Buy that You Imagine as Your Home
Finding a house to buy is not easy to do. It takes a lot of work to find a house that fits your lifestyle and your needs, and even more work to actually close on the house and put your name on the deed. For that reason, when you are looking for houses to buy, consider your house as a long-term investment rather than a short-term, temporary stop in life.
According to Trulia.com, “buying—and moving—to a new home takes a lot of time and effort, and can add up significantly in closing and moving costs, etc. Staying in place longer will help you avoid those added expenses.” If you aren’t ready to accept a long-term commitment, then maybe you aren’t ready for a home.
Find Houses for Sale that Allow for Change and Renovations
Your home will never be a finished product because one of the thrills of owning your own home is continually changing it to fit your dreams and aspirations. When you are searching for houses to buy, try to find a house that will allow you to make the changes that your continually evolving life will require.
Lifehacker.com advises that “an unfinished basement or an attic could be turned into an office, for example, instead of needing another bedroom; a den could become a nursery for a hypothetical child.”
Search for Houses for Sale in Neighborhoods You Love
When you purchase a home, you are also, in a sense, purchasing a community. Even if you have found a perfect house for sale, you can’t spend your entire life inside. While you are trying to find houses for sale, you also need to be doing your homework on the type of community where your home is found.
While searching for houses for sale, you also will need to check out the quality of the local schools, the friendliness of your neighbors, the environmental health of the region, and the crime rate.
Find a House for Sale that You Will Be Able to Sell if Needed
Though you may never want to sell the dream home that took you so much time to actually find, you also need to be prepared for the future. Things can change, and you may be forced into a move. When looking to find a house for sale, you should also consider whether or not your house will maintain its equity over the long run so that you can come out on top if you do decide to sell.
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Conclusion: How to Find a House to Buy That Will Become Your Dream Home
It takes a lot of work to find a house for sale and to eventually find a house to buy. But don’t fret about how to find a house to buy. With a little bit of patience, dedication, and research, you should be able to find a house that will become a home for your family.
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