Buying a home, especially on a tight timeline due to relocation, requires a real estate agent. You can’t afford to go the DIY route. If you need to buy a home before the big move, hiring a top-notch agent should be your first step.
How do you find a good agent? We make it easy! With the Lucas Howard Group, you can quickly connect with top-performing agents in your local area who we endorse. Our agents are committed to serving you with excellence and helping you reach your financial goals.
Find a real estate agent who’s a market expert
Just like when you’re selling a home, you need to hire a real estate agent when you’re buying. Specifically, you should work with an agent who’s an expert in the housing market you’re moving to.
A top-notch agent will guide you through all the steps of the buying process—like getting preapproved for a mortgage, filling out paperwork, and closing—and the best part is you likely won’t have to pay them a dime! That’s because, in most cases, home sellers pay the commission for their agent and the buyer’s agent.
Chances are, you’re relocating to an area you don’t know very well. That’s why it’s so important to partner with a real estate agent you can trust and who’s an expert in that area. They’ll help you figure out which neighborhoods to look at and what kind of homes fit your budget.
The Lucas Howard Group makes it easy to find an agent who can do just that. The agents in our network are experienced high performers and experts in the local areas they serve. Connect with one today!
Figure out your housing budget
Before you start house hunting, make sure you get clear on your budget by figuring out how much house you can afford. If you’re getting a mortgage, stick to a 15-year fixed-rate loan with a monthly payment that’s no more than 25% of your take-home pay—including private mortgage insurance (PMI), property taxes, and insurance.
You should aim for a 20% down payment, as that would let you avoid PMI. But if you’re moving and buying your first home, putting 5–10% down is okay as long as you can stick to the 25% rule for monthly payments. For an easy way to estimate your monthly payment, use our free Mortgage Calculator.
Knowing your home budget will help you target your search to the neighborhoods and areas of town that fit your budget.
Focus on resale value
Most homeowners only stay in their houses for 10 years. So chances are you will be reselling at some point, and you’ll want the value of your home to increase before that happens.
How do you make sure you buy a home that’s likely to increase in value? Buy in the bottom price range of the neighborhood, choose a home with a good floor plan that’s attractive from the street, and research whether any developments are planned for the area. Your agent can help you figure all that out.
Leave a Reply