Avoid Buyers Remorse When Buying Atlanta Real Estate

Posted by on Saturday, February 11th, 2012 at 10:54am.

The process to buy a home can be anything but short and sweet. It seems like there is an opportunity at every turn for something to go wrong with the volumes of paperwork to sign and documentation to review. When you get worn down, it can get confusing to figure out which steps are necessary to take and which ones can be avoided. Here are some important considerations to keep in mind that you’ll be thankful you made time for.

Choose your real estate agent wisely

Just because a friend of a friend recommended someone to be your agent doesn’t mean they will be a good fit personally or professionally. You should work with a real estate agent who is also a REALTOR, which is someone who has additional training and adheres to a national code of ethics. Your ideal agent should also have a proven track record of excellent service when working with both buyers and sellers; it’s essential to have an agent who is familiar with the lay of the land in order to help you assess fair market value of potential homes properly. In today’s environment it’s critical that you have an agent who is up to date with the latest technology, otherwise they could be missing out on finding you the home of your dreams.

The mortgage from heaven

A great mortgage is one that you can safely afford and is also the most economical overall. So how do you get one? You have to research and interview lenders and be specific about certain terms that you want in your loan. A 15 year fixed-rate mortgage is an ideal loan because you lock in your interest rate and save thousand of dollars in interest by paying it off in 15 years versus the traditional 30 years many opt to take. You can also lower your interest rate and save on private mortgage insurance by making a down payment of at least 20% of the purchase price.  Lastly, you can pay upfront fees known as points (equal to 1% of the loan amount) which can further lower your interest rate. If you have the extra capital and are able to pay points, they can save you in the long run.

Don’t skimp on the inspection

Determining whether or not your dream home has defects is absolutely vital. That being said, you need a quality professional to take a detailed look at your home so you don’t foot the bill for something the seller “forgot” to mention. It can be difficult to land a good inspector; a wise place to start would be with friends or family members that have prior experience with someone. If you don’t have any referrals you can try the internet or phone book and call to inquire about the level of experience. You want someone who is familiar with the type of home you’re buying, and ideally someone who does it full time. Also be careful of bringing in a contractor who offers to fix the defects they point out; they’re could be trying to drum up some extra business for themselves.

Remember that throughout the home buying process, you are in control. You are about to spend a lot of money, so put it where your mouth is when there is a problem or disagreement. It always pays to maintain professionalism, but don’t be shy about letting your opinion be known. To land your dream home you need good people and you need to do your due diligence in finding them. Following these quick tips may not get you into your home faster, but once you do get there, you’ll feel a lot more comfortable knowing you took time to do things right.

10 Responses to "Avoid Buyers Remorse When Buying Atlanta Real Estate"

Boulder Real Estate wrote: There are quite a few steps that buyers can take in today's market to help minimize the potential for buyer's remorse, and these are some good ones. I might also add 1) Know what you want, and 2) Be willing to compromise on some things. We all know there's no perfect house, and many time buyers today start out with a rigid set of expectations that basically add up to the "perfect" house. Knowing and sticking to the core characteristics of what they want/need in a new home, buyers can use all these tools to get a great house, a great price, and a great loan.

Posted on Saturday, February 11th, 2012 at 12:39pm.

Debbie Gartner wrote: So important not to skimp on the inspection anywhere. This is critical because you must know what you are getting and how you are going to handle it. It's not what you see, it's what you don't see and the home inspector does!!! I have heard of cases where people have asked for a second inspection opinion to clarify some things that they suspect but did not come out in the first one!

Posted on Wednesday, February 15th, 2012 at 9:38am.

Greg Herder wrote: Tina, you are right selecting the right agent is so important. Right now is the time to buy real estate in Atlanta. The market is picking up steam. http://www.agentsuccess.com/blog/?p=529

Posted on Wednesday, February 15th, 2012 at 11:18am.

Property Investment Australia wrote: Thank you for sharing a very useful information on us. Indeed a post worth reading for.

Posted on Thursday, February 16th, 2012 at 12:31pm.

David Abraham wrote: Nice informative blog, thanks for sharing.

Posted on Thursday, February 16th, 2012 at 12:49pm.

Zach Skidmore wrote: Tina, great blog. As a Realtor in Center City Philadelphia I can appreciate such a post! Thanks.

Posted on Monday, February 20th, 2012 at 2:44pm.

Coogee Real Estate wrote: Hi Tina, some important tips that all buyers should follow - cheers

Posted on Friday, March 9th, 2012 at 10:25pm.

Chris Adams wrote: You pointed ouut some great factors there Tina. I agree in selecting a good agent. That agent can make or break your dreams in a house. Having an agent that you can trust and understands what you wish for in a house can go a long way. Thanks for sharing your thoughts.

Posted on Thursday, April 19th, 2012 at 7:10pm.

Mike - the Indianapolis Real Estate Guy wrote: You're definitely right about skimping on the home inspection. To this I would add, don't skimp on the home inspector!

Posted on Thursday, May 3rd, 2012 at 4:51pm.

Vincent La Fiura wrote: Buyers remorse is a horrible feeling not only for the buyer but also for the realtor involved, thats why I believe having critical information available to the buyer at all times is important so that buyers are making an informed decision. Here in Toronto I deal with buyers that buy all different types of homes, the only type of buyers that I find to have buyers rtemorse are those buying buying power of sale homes in Toronto as these purchses come with risk. I like your site as it has great content for the user just like having content is important for a Toronto Real Estate website. Having great content is crucial for the visitor as it ads value not only to the agent but also for the user when searching for houses for sale in Toronto.

Posted on Saturday, May 5th, 2012 at 1:51pm.

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