So, you want to get into real estate. You want to spend some money to make sure that you’re getting what you need in order to be successful. How can you do that so that it makes sense? What options do you have if you want to buy a property in the cocoplum neighborhood that is going to help you to get some rental income as you go? Here are 12 secret tips from real estate agents at websites like Trulia and other locations.
Take care of the lawn. Many people won’t even consider a home that doesn’t have a well-kept lawn, so make sure that you are doing what you can to ensure that this isn’t a problem.
The furniture always changes. People will set up a home differently based on the season, so know what you’re looking at and for so that the optical changes don’t throw you off too much.
Watch out for Dual Agency. Many states disallow or have restrictions on what’s called “dual agency,” which is when the real estate agent who is selling your home is also the person that your buyer is going through to buy the home. It’s safer for everyone involved to have two separate agents (and if possible, two different agencies), so that the interests of both parties involved have their needs and desires taken care of without the possibility of bias.
Always have a list of what you want vs. what you need. This can include cost, what’s included in the home, location, whatever. Just make sure you make a clear difference between what you need and what you’re okay with not having.
Use the internet wisely. Most townhome complexes and real estate agencies have websites with their rentals available online, and most newspapers have their classified ads online too. Make sure you do a lot of research and go look before you make a decision.
Talk to agents ahead of time. If you have questions, talk to real estate agents. They know information like how much taxes may be and how safe certain areas of town are as well.
Take your time. Make sure to give yourself sufficient time so that you don’t have to end up “just settling” on the first home that you find. There can be some great deals if you give yourself enough time to find them.
Location affects value immensely. Ever hear the phrase “location, location, location?” It can be used for a lot of things, but when you’re talking about where your home is, it’s absolutely vital. Your neighbors, what neighborhood you live in, and what is around you.
Figure out if buying or building is better. Building policies and laws are extensive and strict. You have to adhere to codes and make sure that everything is in order before you can live in the home you are building. You may want to figure out if jumping through all of those hoops is worth it, or if you want to just buy a house that most likely already adheres to these regulations.
Utilize contractors when shopping around. Going to a personal contractor and getting a quote and a plan together can save you a lot of time, money, and headache in the future, and it’s a good comparison point.
Know who is responsible for paying for things. For example, if the electricity needs to be re-wired, you want to make sure that you know whether the seller or the buyer is the one that has to do it so that the house passes inspection.
Your home isn’t your only cost. The lender requires an inspection fee, state and local taxes have to be paid, and the guy who put together the paperwork that he just signed wants money too. Other costs could include credit reports, title insurance, and loan origination fees.