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Buying a new home is like starting life afresh. It is vital to your whole life- relationships,

work, family, and general lifestyle. To buy a new home without regrets, take note of these tips.

Have an idea of the market value of the house

It will be difficult to get a new home at a fair price if you don’t know its value. Do your homework on similar houses, especially those in the same neighborhood. Have an idea of what they cost before you approach the seller. The knowledge you have will help you during negotiations. Also, after inspecting the property, take notes of the likely renovations you would need to make. The need to make necessary upgrades would mean that the value of the house will drop. Build on that before you make the final offer.

Make a checklist

There is usually a reason for buying a new house. Create a list of things you desire in a new home and neighborhood before making a purchase. Let the checklist also include some of the things your previous home lacked that you need.  Next, you should rank the items on your list in order of importance.  The top 3 items are your “must-have” criteria, while the rest are your “nice to have” items.  Remember, no home is going to be perfect, so it is really important to prioritize characteristics that are most important to you. This checklist will help you avoid previous mistakes and give you the fresh start you need.

Due diligence or background check on the neighborhood

For some people, the neighborhood where a home is situated is more important than the house. The community is instrumental to the upbringing, security, and overall development of your family. Before purchasing a new home, you should research what commutes to work would be like, what amenities are available in the area, and, of course, investigate the area’s safety. Ask yourself if the area will be a good fit for your lifestyle, work, and family. Our Realtor partner in your new home town can point you in the right direction in conducting this research.

Get Our Ultimate Home Buying Guide!

Get Pre-Approved for New Mortgage

Getting pre-approved to buy a new home can put you at a competitive advantage relative to your home buying competition in your new hometown because it’s a clear sign to sellers that you are willing and able to complete a home purchase. Please note that a pre-approval and pre-qualification are NOT the same!  With a pre-approval, you have submitted your financial information to a mortgage lender. After their review, they have pre-approved you for a mortgage so long as the home is acceptable and your financial profile doesn’t decline.  With a pre-qualification, the lender is merely telling you that you should qualify for a mortgage based primarily on your income. It is not enough to be pre-qualified for a mortgage.  Our Realtor partner in your new hometown can put you in touch with local lenders that understand that market.

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Work with a Local Area Expert

There are a LOT of factors to consider when looking to purchase a home in a new city, and it can be overwhelming to figure it all out yourself.  We will put you in touch with one of our Realtor partners in your new home town that can guide you through the process and help answer all the questions you have.