Diana Adair - REALTOR® - Amherst Real Estate, Hadley Real Estate, Belchertown Real Estate


You know that you want to buy a house, but you also don't want to break your day-to-day budget to acquire a residence. As such, you're in the market for inexpensive housing – something that can be tough to find in any real estate sector, at any time.

Buying a house can be difficult, especially if you're operating on a tight budget. Fortunately, we're here to help you take the guesswork out of finding an inexpensive house that matches or exceeds your expectations.

Let's take a look at three tips to help you streamline your search for an affordable residence.

1. Evaluate How Long a Home Has Been Available

When it comes to finding an affordable house, it pays to check out how long a residence has been available. By doing so, you may be able to discover a bargain, even in a highly competitive real estate market.

If a home that has been available for many weeks or months, a seller may be more motivated than ever before to accept an offer that falls below his or her initial expectations. Thus, if you submit an offer below a seller's initial asking price, the seller may accept your proposal in the hopes of getting rid of his or her residence quickly.

Of course, you should always ensure that a home offer is competitive based on a house's age and condition, along with the current state of the real estate market. Because if you submit a "lowball" proposal, a seller likely will respond with an immediate "No" to your offer.

2. Look at Fixer-Uppers

A fixer-upper is unlikely to have everything that you want in your dream house. On the other hand, a fixer-upper likely is more cost-effective in comparison to a new house.

If you're on the lookout for affordable housing, you should consider fixer-uppers. These houses may require some work, but buyers who are willing to allocate the necessary time and resources to perform myriad home repairs can transform these properties into dream homes.

3. Collaborate with a Real Estate Agent

For homebuyers who want to acquire a house without spending too much, it usually helps to hire a real estate agent. In fact, by working with a real estate agent, a homebuyer can streamline the process of acquiring an affordable residence.

A real estate agent first will meet with a homebuyer and learn about his or her homebuying goals. Then, this housing market professional can tailor a home search to complement a buyer's budget.

Let's not forget about the support that a real estate agent provides throughout the homebuying journey, either. A real estate agent will set up home showings, negotiate with a seller's agent on your behalf and do whatever it takes to help you purchase an inexpensive house.

Ready to find a cost-effective house? Use the aforementioned tips, and you can accelerate the process of discovering an affordable home that you can enjoy for years to come.


Although being a first-time buyer can seem overwhelming, there was one advantage to the entire process: You didn’t need to sell another property. If you would like to move out of the home that you’re currently living in and are in the process of buying a new place, your life is about the get complicated! Hold tight to your realtor and get ready for quite the ride. 


Since it’s often unrealistic to pay two mortgages at once, there’s a certain way that you must complete the transactions so as not to cause a huge financial headache when moving from one place to another. Unfortunately, you’re going to have to deal with buying a new home and selling your current one simultaneously in most cases.    


The good news is that it can be done! Read on for tips to find out how you can make the process go as smoothly as possible. 


First, you’ll want to understand the housing market that you’re in. You’ll know what strategies you need to employ if you understand the type of market that you’re dealing with. If the two homes are in completely different areas, this research will be even more important to you. 


Buying


While you’re searching for a new home and selling your current one, you’ll want to leave your options open. That means not locking yourself down to just one home. Of course, you’ll only put in one offer at a time, but knowing what’s out there for you to buy is important in case the purchase falls through on the first prospective home. This way you won’t have much chance of being “stranded” once your old home sells. 


Selling


You want your home to be sold in a timely manner. This means that your old home should be well-priced and ready to sell. Work with your realtor on staging, pricing, and holding open houses. The more effort that is put into marketing your home, the better chance you’ll have of selling it. Extra time on the market means that you’ll have a bigger headache when it comes to buying your new home. Selling quickly is not a bad thing so long as you have some other place to live. You can also put a contingency in the sale stating that you need to find suitable housing before you can move. Realtors can do a lot when their sellers are cooperative and proactive.           


Should You Buy First?


If you sell your home first, you’ll have an easier time getting a mortgage on a new home. The problem here is that you’ll need to find some sort of temporary housing before you even head out on the house hunt.


If you buy a home fist, your buying power may be less than if you sold your current home. Your debt-to-income ratio will be higher, giving you less money to spend on a new home.


While buying and selling a home simultaneously can be complicated, if you strategize correctly, you’ll be able to go through the entire process with ease.   

 



Shopping for a new home is difficult and time-consuming. With all of the homes listed for sale, it’s tempting to want to visit all of them. However, if you’re juggling house-hunting with your work and personal life, then you likely won’t have time to set aside many hours to visit several homes.

 This is where you can use technology to your advantage. With free, modern tools online you can find out plenty about a house and the neighborhood it’s in without ever having to go and visit it. Better yet, you can do so in just a few minutes right from home.

 In this article, we’re going to teach you how to become a real estate investigator from the comfort of your own couch, helping you save time while hunting for the perfect home for you. 

 Know what you’re looking for

While it’s okay to browse homes for pleasure, when it comes to getting serious about buying a home you’ll want to keep your search as specific as possible. Think about what you or your family need in a house and neighborhood, rather than focusing on idealized versions of those things.

A good way to do this is to sit down and make a list of your budget and the five most important things you’re looking for in a home. These could be things like distance to work, being in a certain school district, or having a certain number of bedrooms. Once you have these details in mind you can begin your search.

Search tools

There are a number of search tools for locating homes near you. The key to searching, however, isn’t the tool you use but how you search. Refer to your list for things like room numbers, square footage, and location.

If you don’t come up with as many hits as you’d like, try setting up email or text alerts so you can be made aware of the new results for your area.

Once you have a list of about ten properties, you’re ready to start researching them further to see which sellers you want to contact to view the home.

Researching a potential home

Many people are surprised at the number of things you can learn about a home just from a Google search. However, Google will be an indispensable tool in your search for the perfect home.

Let’s start our search on Google Maps. Type in the address for the house you’re researching and see if there are any photos of the home that aren’t on the listing page. Next, enter the satellite view of the home to get an idea of the layout of the home and property.

While you’re in Google Maps, it’s a good idea to browse the local area for businesses, hospitals, schools, parks, and other services that might affect your decision. Then, set a driving route between the house and your place of work to find out how long it would take you to get to work if you moved there.

Once you’re done in Google Maps, head back to the Google search page and browse the results for the address. This could show you information on previous owners, prices, and crime statistics. All of this will be useful information in your search.

Repeat this search method for the rest of your homes on your list and you’ll be narrowing down potential homes to visit in no time.


Moving into a new home can be overwhelming. Once you have gone through the long process of buying a home, when the keys are your hand, your mind could be swirling with tons of ideas for what you should do in your new space. There are a few important things that you need to complete before you get into painting those walls or buying a new sofa. Read on for tips.


Look At Your Things


In the excitement of moving, you may forget about all of the stuff that you actually moved into the home. If you hired movers, check your boxes. Make sure that nothing is broken or damaged from the move. If there is anything wrong, you can file a complaint with your moving company.


Turn The Utilities On


The utilities need to be turned over to you from the previous owner. In many cases, you’ll need to contact the local utility companies in order to get the bills switched to your name and the services started. This is important for you to have a completely functioning household. Cable and Internet is a choice provider that you’ll also need to set up ahead of time before your move.


Unpack Your Stuff


Rome wasn’t built in a day but you need certain things like clothes and coffee makers as soon as you move into a space. Find the boxes that have the most important things in them like sheets, blankets, clothing, and important appliances. Work your way out. You don’t want your new home to stay a complete disaster zone forever. 


Organize Your Stuff


Moving into a new home gives you a new opportunity to get organized. Get everything in order the first time. This will keep you from needing to clean up constantly at a later date. When you start off with good organization you’ll be a lot happier in your new home. 


Think Security


Make sure that your new home is secure for your family. Think of everything from accidents to crime. Install an alarm system. Change the locks. Inspect the property for any hazards. All of these activities can help to make your new home a more secure place to live. 


Learn About Your New Surroundings


When you move into a new neighborhood, you should take the time to get to know the area. This includes meeting your neighbors and taking a stroll around your neighborhood to see the area more closely. Discover the highlights of the area like restaurants, shops, and other activities. Enjoy the new place that you call home to the fullest!


Ready to buy a home? You'll likely need a mortgage to ensure you can afford your dream residence. Lucky for you, many banks and credit unions are happy to help you discover a mortgage that suits you perfectly.

Ultimately, meeting with a mortgage lender may seem stressful at first. But this meeting can serve as a valuable learning opportunity, one that allows you to select a mortgage that is easy to understand and matches your budget.

When you meet with a mortgage lender, here are three of the questions to ask so you can gain the insights you need to make an informed decision:

1. What mortgage options are available?

Most lenders offer a broad range of mortgage options. By doing so, these lenders can help you choose a mortgage that meets or exceeds your expectations.

Fixed-rate mortgages represent some of the most popular options for homebuyers, and perhaps it is easy to understand why. These mortgages lock-in an interest rate for a set period of time and ensure your mortgage payments will stay the same throughout the duration of your mortgage.

Meanwhile, adjustable-rate mortgages may prove to be great choices for many homebuyers as well. These mortgages may feature a lower initial interest rate that rises after several years. However, with an adjustable-rate mortgage, you'll know when your mortgage's interest rate will increase and can plan accordingly.

2. Do I need to get pre-approved for a mortgage?

Pre-approval for a mortgage usually is an excellent idea, and for good reason.

If you get pre-approved for a mortgage, you may be able to enter the homebuying market with a budget in mind. That way, you can pursue houses that fall within a set price range and avoid the risk of overspending on a home.

On the other hand, you don't need to be pre-approved for a mortgage to submit an offer on a home. But with a mortgage in hand, you may be able to gain an advantage over the competition, one that might even lead a home seller to select your offer over others.

3. How long will a mortgage last?

Many mortgages last 15- or 30-years – it all depends on the type of mortgage that you select.

A lender can explain the length associated with various mortgage options and highlight the pros and cons associated with these mortgages.

Moreover, you should ask a lender if there are any prepayment penalties if you pay off your mortgage early. This may help you determine whether a particular mortgage is right for you.

When it comes to finding a lender, don't forget to meet with several banks and credit unions. This will allow you to discover a lender that offers a mortgage with a low interest rate. Plus, it enables you to find a lender that makes you feel comfortable.

If you need assistance in your search for the right lender, be sure to reach out to a real estate agent. This housing market professional can provide details about local lenders and ensure you can accelerate your push to acquire your dream residence.




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