THINKING ABOUT BUYING?
You can’t afford to miss an opportunity
When it’s a seller’s market and houses are being sold sight unseen, it’s tough. Without having someone who will notify you right away and keep you in the loop, you will miss out and start to question things.
A good realtor will communicate new or potential listings immediately,work with you during negotiation, and guide you throughout the process to ensure you seize that opportunity.
Take this use case
Two buyers in the Philly Suburb area were looking for a condo for almost a year that met all of their needs. They had honed in on their location, preferred building and features. Unfortunately, they were in a really tough market. Their realtor knew this and notified them right away when a property came on the market that same day.
Even though they were on vacation, they dropped what they were doing, saw the house and worked with the realtor to make an offer right away. Since the sellers were motivated to sell, they took their first offer.
Get the Facts
Debunking Common Myths
Myth #1: You must put down a 20% down payment
A 20% down payment is by no means a requirement for buying a home. While a larger down payment can offer advantages such as avoiding monthly private mortgage insurance (PMI) and potentially securing slightly better interest rates, there are other financing options available that require a lower down payment. A reliable mortgage partner would help walk you through your options.
Myth #2: You shouldn’t bother getting a home inspection
Skipping a home inspection is a common misconception, often fueled by others with the desire to save time or money. However, a home inspection is a crucial step in the home-buying process and it should not be skipped. It provides an expert assessment of the property’s condition, helping you make an informed decision. A professional home inspector can identify potential issues that may change your opinion on the house or help with negotiation at the closing table.
Myth #3: You don’t need a realtor to buy a house
This is actually true in Pennsylvania. You do not need a realtor, but there are a handful of reasons why most do opt in including the guidance, knowledge, and peace of mind.
THINKING ABOUT BUYING?
Have Questions About Buying?
CHECK OUT OUR FAQ’S FOR BUYING REAL ESTATE IN PENNSYLVANIA
Can a home depreciate in value?
Yes, in certain circumstances, a home can depreciate in value. While real estate is often considered a long-term investment that tends to appreciate over time, there are factors that can cause a property to lose value including economic downturn, poor maintenance, outdated features, or neighborhood changes. Regular maintenance, renovations, and strategic improvements can help mitigate depreciation and enhance a property’s value over time.
Is an older home as good as a newer home?
Choosing between an older home versus a newer home depends on various factors, and different individuals may have different preferences based on their needs and priorities. Older homes may have more character, are in established neighborhoods, and might be built on larger lots with more stable construction. On the other hand, newer homes may be more energy efficient, have technological amenities, and are built to comply with current regulations.
Ultimately, the choice between an older home and a newer home depends on your preferences, budget, and priorities. It’s important to conduct thorough inspections and consider factors such as location, condition, and potential renovation costs when evaluating older homes. Similarly, when considering a newer home, take into account the builder’s reputation, warranty, and the long-term value of modern features.
How long does the home buying process take?
The duration of the home-buying process can vary widely based on several factors, including local market conditions and individual circumstances. On average, the home-buying process typically takes around 4 to 6 weeks from the time an offer is accepted to the closing date. However, this timeline can be shorter or longer depending on the time it takes to find a house that will meet your needs.
