5 Tips on Buying a Second Home

sold houseThere are a lot of factors you have to take into consideration when you are buying a home. Buying a home can be an exciting process, but at the same time it can also be very nerve-wracking when you don’t know exactly what to expect. Here are 5 tips to help make the home buying process go more smoothly!

1. Decide if now is the right time to buy

The first step in the home buying process is to make sure it is right time for you to buy. It is very important to consider market conditions, personal finances and the affordability of the property. Make sure to really think through your plans before you jump right into it. Before you even start shopping, clean up our credit and save for a bigger down payment to avoid costly fees and qualify for a better mortgage.

2. Find a the Right Real Estate Agent

While most sellers list their home through an agent, those agents are for the seller, not you. You need to find an agent who you can trust and will give you quality advice when you need it. A buyer’s representative has the same access to homes for sale that a seller’s agent does, but their allegiance is supposed to be only to you.

3. Research the Area

Even if you’ve been visiting the same vacation spot for years, you need to get to know the area from a nontourist perspective if you plan to buy there. Visit during the place off-season and talk to locals to get their take on the area. This will make you more confident that this is the place you want to buy your second home.

4. Get a Home Inspection

The inspection will make you aware of what might be wrong with the house when you cannot see it. If there are major problems, you’ll be happy you spent the money for an inspection. If you do not find anything that will make you more confident in your purchase.

5. Understand What You’re Signing

YAY! Only a few more papers between you and your new home. You should request a draft copy of any documents so you can preview them before the actual closing date. This will allow you more time to make sense of what you’re signing. If you do not understand something, ask your team to explain further.

Buying a home is a big process, but doing research and involving the right people can make your home buying experience go smoothly. Highlands Cove Realty is here to help with the process when the time is right for you to buy a new home! Take advantage of these amazing winter perks and prices now. Median sale prices increased by 8.7% from 2016. Do not take a risk a wait any longer, or prices may increase even more in 2017.