In my last article, 'Interest'ing Tips - Where To Start When Buying a Home in Lansdale, PA, I outlined how to determine how much house you can afford by getting pre-qualified for a loan, examined local tax assessments, and stressed looking for neighborhoods that are appealing to you.
The next part is what most people feel is “the fun part”! Finding the house you will call “home”.
There is really no perfect home on the market. What may be almost perfect for one buyer would not even be considered by another buyer. Even the million dollar homebuyers have to compromise and distinguish between their wants and needs. It’s best to follow this set of criteria:
Price Range – minimum to maximum
Geographic Area – search by township or borough or school district
Type of Home – single family, twin, townhome, condo, mobile home
Style of Home – Colonial, split level, ranch, contemporary
Number of Bedrooms/Bathrooms – always search for the minimum number acceptable to you
Needs vs. Wants – Decide if you must have a garage, basement, fireplace, pool, etc.
What size and age of home are also deciding factors.
Homeowner Associations – can you live with the restrictions?
It is better not to limit your search too much. If you limit your search with too many particulars you may pass on a home that might be ideal for you. If you can live with 1.5 bathrooms instead of 2, you may have more homes surface during your search and may otherwise work.
A Realtor can assist with a more detailed search using the Multiple Listing Service, also known as the MLS. The MLS is a search tool where Realtors enter their listings. Most people who are starting to look for a home begin their search online using websites like Realtor.com, Trulia, Zillow and various other sites. You should continue to search online even if you are working with a real estate agent because you may find something that didn’t come up in a MLS search. Your search criteria can be adjusted throughout the process to help find the right home. The MLS tends to be more “up to the minute” with new listings, price changes and status of a home like “for sale”, “pending sale” and sold” than the other sites I mentioned.
Once you find a home that you like and meets your needs, you’ll want to put in an offer. The offer can be written many different ways. Most of the time, you will want to include the option of doing a home inspection, a termite or wood destroying insect inspection and a test for radon. These are the most common inspections, but there are more like tests for mold, septic systems and stucco. An initial deposit of $1000.00, also called an earnest deposit, is typically submitted with the offer, followed later by a larger second deposit.
You will probably encounter negotiations on price, terms and/or conditions of the offer. To help determine what price to offer, you will want to examine the comparative home sales from the last 6 months in that neighborhood and the features should match as closely as possible. But once you and the seller agree, you are on your way to getting the home you want! No two offers on a home are alike. There are many ways to construct an offer. If you would like more information, feel free to contact me. Happy house hunting!
~Gina
Home Sweet Home? By our team member and guest blogger Gina Wherry originally appeared in the Montgomeryville-Lansdale Patch.
Contact Scott Loper, Associate Broker, Realtor®, RE/MAX Realty Group at 215-513-1333 for help buying or selling a home in Lansdale, Harleysville, Hatfield, Souderton, Skippack, Collegeville, North Wales and the surrounding areas of Montgomery County of Pennsylvania. To Search for Homes For Sale in Montgomery County Click Here.
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The Scott Loper Team
Scott Loper - Associate Broker
Lisa Loper - Sales Associate
Gina Wherry - Sales Associate
RE/MAX Realty Group
439 Main Street
Harleysville, PA 19438
Ph: 215-256-1200 x-213
Great post Gina! Its so very important for buyers to have realistic expectations when it comes to their home search.
Thanks Maggie. Gina wrote a great piece. Controlling expectations is key.
Lisa
I’d love to find a house at my minimum price, which happens to be $0. Never going to happen, is it? L