by Sally Boone
(Los Angeles, California, USA)
The best way of obtaining the home of your dreams is by having one built to your specifications. This is a nice option, but it can cost quite a bit of money in the end with all of the materials and labor for the different professionals involved in the process.
You can still find the home of your dreams in the marketplace to buy without having to start from scratch and break ground on a new location. The first thing you’ll need to do is decide what you would like to have and what your needs are in a home.
When you go to look for homes, you’ll be looking for the house that has as many of these things as possible. You’ll also need to make sure that the real estate market in that area is in a buyer’s market mode if possible.
This is when the buyer has a higher chance of getting a home for a lower price. They can have more control of the deal, getting the necessary repairs included and carried out before the final closing of the deal.
Another way of increasing your chances of getting the home you want is by getting pre-approved (not just qualified) for a home loan to find out how high a lender is willing to go for the loan before you go out into the marketplace.
Make sure your credit is in good standing so that you can get the best deal. This way, if your dream home is found, you can offer a lower bid and work your way up to the price that the lender is willing to give you.
Make sure you check out several different homes to buy. Decide which ones would best meet what you’re looking for in your dream home. More than likely, you won’t find one that has it all – but you can find one that has most of what you want.
Some things you’ll be able to add at a later date. For instance, if you really want a home with a pool, but a house has everything but the pool, make sure that it has a roomy backyard so that you have the option of adding one later.
Consider checking outside of the prime area. There may be the perfect home that’s four miles from the local school instead of right next to it like you may have wanted. The perfect home could also be in a neighboring town as well, so think outside of the box for the prime location of the type of home you’re after.
Work with a real estate agent or co-op brokerage firm like we mentioned earlier and make sure they know exactly what you’re looking for. They’re trained to be on the lookout for all types of homes and can scour the marketplace to find ones that come close to what you want.
They also have lots of connections and can even bargain efficiently to get the best price for you. Take a Sunday afternoon and just drive around the area that you want to purchase your home in and look for some For Sale By Owner signs.
Check out how big the house looks, where it’s located and if it looks like the homeowner has taken care of the property. Contact the realestate agent the next day and inquire about the homes you saw, so that you can see the inside of the properties.