Searching for your next dream home can be fun and exciting. However, securing a place you love often involves multiple steps and stages. Whether you own one home or more, the homebuying process requires much attention to detail. What to do when no two experiences are the same? Investing in real estate requires time, patience, and expert knowledge.
Anyone keeping up with recent real estate trends understands most markets have experienced significant shifts in the last two years. Knowing the homebuying process will help you be prepared and informed to make a savvy decision as you search for your next ideal property.
Buying in Buford
Buford is an up-and-coming suburb of Atlanta, Ga. At roughly 40 miles from downtown Atlanta, many families are interested in this desirable area for its proximity to the city and its small-town atmosphere. Buford is a charming and family-friendly community with numerous area attractions such as Lake Lanier, the Mall of Georgia, and plenty of sporting venues and events.
Buford attracts affluent and discerning clientele who appreciate a relaxed and refined lifestyle with easy access to upscale amenities. This enticing community continues to grow, and the Buford real estate market remains competitive. Our trusted team of realtors at RE/MAX Tru is sharing this homebuying guide to help you prepare as you search for your dream home.
Review your finances
Today’s real estate market is fast-paced and ever-changing. Before you decide to look for a new home, understanding your finances and how they align with your real estate goals is paramount. Amid elevated home prices and rising mortgage rates, determining an appropriate price range for your investment is the first step.
If you are not planning to make an all-cash purchase, consider relevant financial factors like a down payment amount and estimated closing costs. Obtaining a mortgage preapproval is another critical step when preparing to buy your next property. Because the market can fluctuate unexpectedly, reviewing and preparing your finances will help you make keen and profitable decisions throughout your home search.
Choose a trusted agent
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In recent years, buyers are increasingly aware of the importance of working with a trusted and dedicated real estate agent. In 2021, 87% of buyers worked with a realtor to purchase their home, according to the National Association of Realtors. When you work with a dependable and accomplished buyer’s agent, your chances of landing your dream home increase.
Realtors are experts in the market and have detailed knowledge of current pricing trends, including access to resources and tools not available to the average buyer. Because of their extensive experience, they are well-equipped to help you find the perfect neighborhood and home aligned with your lifestyle and goals.
When you work with a realtor, you also gain access to their broad professional network. They will expedite the homebuying process by connecting you with appropriate contacts like inspectors and other service professionals. Additionally, they will manage the complex task of negotiating on your behalf to secure the best deal for your next property.
Find your ideal home
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According to the National Association of Realtors, 95% of homebuyers in 2021 used online tools when searching for their next property. Digital tools can be a solid starting point for familiarizing yourself with the types of available properties and their general price ranges.
As you evaluate available homes, know what features and amenities are essential for maintaining your high standard of living. If you enjoy entertaining, focus on properties with ample square footage and expansive outdoor seating areas. Buyers who appreciate high-end and unique home features should look for impressive finishes like Brazilian quartzite countertops or a luxurious private steam room.
In addition to stylish property features, consider narrowing your search based on the type of community and neighborhood you hope to join. Your realtor will help you evaluate factors such as local schools, access to healthcare, local attractions and amenities, and whether you expect to live in a gated community.
Make an offer
When you find the home you love and feel confident it meets your needs and expectations, the next step is to submit an offer. While it may seem simple, this part of the homebuying process is nuanced and will require the skill and expertise of an experienced realtor.
Although many markets nationwide are starting to cool, desirable areas like Buford are still relatively competitive. Bidding wars and over-list offers are less common than in the previous two years. Even so, demand continues to outpace inventory in this area. Crafting a strong offer and positioning yourself as a serious buyer is still imperative to landing your dream home.
After submitting a competitive offer, you will likely enter one or more rounds of negotiation before an offer is accepted. Negotiations can be stressful, but your realtor will guide you through this process and skillfully negotiate on your behalf. Follow their advice, and remember they are committed to helping you secure the home you love.
Conduct an inspection and appraisal
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After negotiations have concluded and your offer is accepted, you are one step closer to owning your next home. Before finalizing a closing date, you need to schedule a home inspection and appraisal. These steps are a necessary part of the process as they ensure your investment is solid and profitable.
Conducting an inspection will help you determine any potential issues with the home and whether they may require additional investment in your future. Home appraisals establish the market value of your property and guarantee the purchase price is fair.
Based on inspection and appraisal results, your realtor may need to adjust your bid on the property or negotiate for home improvements before close. During the recent market frenzy, some buyers waived these critical steps due to urgency and competition. However, savvy and informed buyers never skip these crucial procedures.
Set the closing date and prepare to move
The last step in the homebuying process is establishing a closing date and preparing the final paperwork and materials needed. Your agent will help you navigate the final phase of the process and follow up with you to ensure you are ready to move in and enjoy your new home.
Purchasing a home is a significant personal and financial decision. At times the homebuying process can be complex and tedious. A distinguished realtor will remove the guesswork, leverage their skills on your behalf, manage all the moving parts, and save you time and stress.
When you are ready to explore houses for sale in Buford, contact an agent at RE/MAX Tru. Our team has the skills and experience to provide the service you deserve and expect when investing in your next property.
*Header photo courtesy of Shutterstock
*Header photo courtesy of Shutterstock
