Matthew Walsh's Blog
The decision to buy a home can bring all sorts of emotions. From stress to joy to fear, you need to be prepared for any situation to arise. From saving up enough money for a down payment to securing financing to hoping for a smooth closing, buying a home is a complex event. Just about the worst thing that can happen in the process is finding the home of your dreams and then having your offer rejected. If you do lose out on the house to another bidder, below, you’ll find a few reasons why.
The Home Is Above Your Means
If you go after a home that’s above a price that you can afford, it’s likely that your offer will be declined. Look at all of your numbers and find a reasonable price point with your real estate agent. Be sure that your agent won’t show you homes that are far above your budget. Don’t risk falling in love with a house that you can’t afford. If you start big, you may be disappointed at the type of home you actually can fit in with your budget.
A Better Offer Came In
In high competition markets or for a home that’s receiving a lot of attention, sellers may get multiple offers. All that attention is why it’s always best to keep your offer as close to the asking price as possible. Don’t assume that other buyers will bid low. Remember that sellers want to get the most return on their home, which means they are going to take the highest offer in most cases.
You also don’t want to get too carried away in asking for contingencies. If you ask too much of a seller’s, they won’t bother giving your offer serious consideration when other buyers have asked them to put less time and money into the home. Don’t ask for unnecessary repairs or over the top back costs.
You’re Not Approved For A Mortgage
The seller wants you to have a home loan pre-approved so that the process of selling their home will be that much smoother. Some seller may only consider bids by buyers who have been pre-approved for a loan. You should definitely be pre-approved before you even set out on your home search.
To get your offer accepted on a home you love, you need to do your homework. As a buyer, you want to keep the needs of the seller in mind. Although you want the best deal for yourself, you're more likely to get a property that you want if you compromise a bit.
Even higher-end homes need renovation after so many years. Fashions go out of style and things get worn out. If money is not an object and the sky is the limit, you can do beautiful things with a remodel. However, if you are remodeling because you are ready to sell your home, it’s better to keep colors neutral and update carpets and flooring with easy to clean materials that will match several styles and colors. It is easier to sell a home when people can picture their personal items in the house, and they match with the current updated color scheme.
Full Kitchen Update
If it’s been some time since you updated the kitchen, start your remodel project there. Both bamboo flooring and natural stone are popular products that will last and that clean easily. Choose neutral colors if you are selling your home or go bold with your favorite colors if you are updating everything for yourself.
Update the appliances to energy-saving appliances. For a larger kitchen or a kitchen that you will be enlarging, consider a French door fridge with a double freezer drawer and a gas stove with six or eight burners and a double oven. If you must go with electric, consider a stovetop and purchase a double oven that is built into the wall. Add an island that also functions as a bar.
When looking at new cabinets, you might consider upper cabinets that go all the way up to the ceiling. However, keep in mind that the top shelves are harder to reach, especially for people who aren't vertically gifted. Light-colored woods, such as maple, are in and dark-colored woods are out. For the bottom cabinets, choose a set with drawers. Some manufacturers are making cabinets without drawers, which leads to a ton of wasted space and no place to store smaller items. While they may look great, they aren’t the best use of space.
Full Bathroom Update
If your bathrooms are small and cramped, consider enlarging them. Use adjoining closet space or add on to the house so that you can redesign the layout for the bedrooms and bathrooms. If you’re adding on, consider combining two small bedrooms into one large bedroom, den or office space with its own bathroom.
Choose natural stone tiles for the showers. They last for a long time, and if you choose neutral colors or even browns, they’ll match many color schemes and stay in fashion longer. Update the toilets to water-saving, high-pressure flush toilets. Update the vanities to something decorative instead of the typical square vanity with a single sink and cabinet, especially if you are enlarging your bathroom.
Consider adding a stand-alone shower in the master bathroom and adding a jetted tub. Large 5-foot showers with two or even three shower heads are popular. When you choose flooring, go with a natural stone tile that will withstand the humidity better. Add an exhaust fan with heat built into the fan. These are perfect for the winter months when the bathrooms always feel cooler than the rest of the house.
5 Adam St, Easton, MA 02375
Ready to kick off your search for the perfect house? You may need to find an expert real estate agent first. By doing so, you can streamline the homebuying process and discover a house that meets or exceeds your expectations.
However, selecting a real estate agent can be tricky, especially for first-time homebuyers. And if you make the incorrect choice, the risk increases that you may encounter problems as you conduct your search for the ideal residence.
We're here to take the guesswork out of finding the right real estate agent to guide you along the homebuying journey.
Now, let's take a look at four questions that every homebuyer needs to ask a real estate agent.
1. What is your real estate experience?
Learn about a real estate agent's housing market experience – you'll be glad you did. With this information at your disposal, you can find out how a real estate professional has helped past homebuyers achieve their goals.
Also, ask a real estate agent about how he or she deals with homebuying challenges. This will enable you to find out whether a real estate agent can help homebuyers through tough times, or if a real estate professional struggles when he or she is faced with homebuying hurdles.
2. How do you communicate with clients?
As a homebuyer, it is essential to find a real estate agent who is readily available. This real estate professional will keep in touch with you at each stage of the homebuying journey and ensure you can make informed decisions along the way.
A real estate agent who prioritizes communication will keep you informed about open houses and new residences as they reach the housing market. As such, this real estate agent may help you accelerate the process of going from homebuyer to homeowner.
3. Can you provide client references?
Typically, an experienced real estate agent will be able to provide client references at any time. If you get in touch with these references, you can gain firsthand insights into what it might be like if you select a particular real estate agent.
If a real estate agent cannot provide client references, this is a surefire red flag. In this scenario, you may want to consider other real estate agents who have proven they know how to deal with potential roadblocks on the homebuying journey.
4. Why should I hire you?
When it comes to finding the right real estate agent, it is important to understand how a real estate professional stands out from the crowd. By asking a real estate agent why you should hire him or her, you're sure to receive a unique response that gives you a better idea about what this real estate professional is all about.
Spend some time reviewing multiple real estate agents in your city and town. And if you use the aforementioned questions, you can boost your chances of hiring a real estate agent who can help you discover your dream residence quickly and effortlessly.