There are some that contend that buying a home is your biggest asset while others say that a home is not an asset as it does not produce an income for you.
Regardless of what position you take, it is one of the most significant expenditures you can make and finding an agent who acts as a “steward” of your money is of vital importance.
There is more to buying a home than just viewing the home and making an offer. Consideration of the potential expenses incurred in repairs or remodeling add to the overall “investment” in the purchase of the home. Another consideration is how the home when finished compares to others with similar features on the market. If the purchase price plus the costs associated with the repair or remodel exceed existing homes in the area, it may be worth considering the purchase of another property.
Assessments, taxes, repair costs and characteristics of the neighborhood as well as the proximity to churches, hospitals, retail stores and restaurants are all key elements to consider.
For those new to the area, your agent should first give you a tour of the area to make sure the community holds all the interests most important to you, otherwise you may be disappointed that the community doesn’t measure up to the interest equal to those you have in your “new” home.
Don’t fall for “bogus” fees!!
More and more we are seeing Realtors or buyer’s agents passing along “administrative” fees to the buyer that can range in the hundreds of dollars. Unless the agent can prove to you that they are delivering a service that exceeds the standard fiduciary duties the brokerage owes you, you should not be subject to these costs. Many agents started to “pad” their commissions by including additional “service” or “administrative” fees when the market prices went into a decline. While one could possibly justify all the additional work that went into a short sale or bank owned property transaction, unless the additional fees are measureable or those from a lawyer being used in conjunction with the services of the buyer’s agent, these are not mandatory or required fees, and the buyer should either refuse to pay these additional fees or request a written explanation for the additional fees being charged.
As we tell our clients, “knowledge allows you to make informed and educated decisions.” The time you spend with us will not only give you an appreciation for the amenities found throughout the county and the neighborhood you are considering, but will give an in depth understanding of market trends and the potential resale value of your home…all key components when considering a purchase of a home.
A great buyer’s agent gives insight to the community, nuances of the neighborhood, a keen understanding of market trends and the design features or potential design improvements and remodeling suggestions that can help enhance the existing value and possible future resale of the home.
Keep in mind, a good Realtor works on your behalf regardless of the price of the home, placing your interests above the potential commissions earned.