For those of you who are in the homebuying process or know someone who is, there’s a lot that goes along with the experience. After all, for most people, this decision will likely be the biggest financial decision of their lives. At the same time, there are many factors to consider and balance against each other, from budgets to lifestyle. How do you know what’s most important during the buying process?
After decades in the real estate and investing world, I knew I had to put together an easy list that could help buyers navigate all these aspects. Of course, instead of just throwing tips at you, I also wanted to give you something that could help you find answers to your unique situation. While these 3 questions aren’t the entire picture, they certainly are a great starting place for any buyer, from Southwest Florida to San Francisco.
How much potential would you say this home has?
You could be talking about kitchen upgrades or backyard firepits, the simple fact is that one factor about a home matters to many buyers. And that’s the potential. After all, you’ll probably be enjoying your next home for years, if not decades to come. Because your real estate agent has seen numerous properties during their career, they can likely spot all the possibilities. And in most cases, at least with my Southwest Florida real estate team, they love to talk about the potential in a specific home.
What are the weak points of this property?
Still, you also want to ask your real estate agent what they’re seeing that may be an issue. Although they aren’t a home inspector, Realtors often get a feel for what may be a concern. And depending on your agent, they may even have vital rehab experience that can lend itself to understanding a property. You can also ask what your agent thinks may need to be repaired or replaced within the first 5 years to get a good idea.
How do the prices compare to other neighborhood homes?
You may have heard that when you’re selling a home, your agent will compare the price of similar other homes that have sold in your neighborhood. This gives them perspective into what might be right for pricing your property. But what if you’re buying instead of selling? They can still check for you! By doing so, you’re getting an inside look at how a property might stack up against one just down the street. When it comes time for negotiations, you may even get an edge by knowing which way the area is trending.
Are you thinking about buying a home in Southwest Florida? I’d be happy to answer all your questions!
Terry Records
Broker/Owner
Records Results Real Estate
Residential Sales and Property Management Service