I don’t think I need to go over why Columbus, OH is a great place to live (good schools, awesome restaurants and plenty of entertainment options just to name a few reasons). But what I would like to discuss is why right now is an even greater time to buy your own piece of Columbus real estate. Whether you’re a First Time Home Buyer, in need of downsizing or upgrading, the Columbus area has plenty of great properties in all price ranges. But with affordable housing options and low mortgage rates, you’re not the only one who is thinking about buying. The competition can be tough and you want to make sure that dream home is yours! With these tips and the help of your Exclusive Buyer’s Broker, you’ll be well on your way to making your real estate plans a reality.
Get Serious: Like I mentioned, you’re not the only needle in a haystack looking for that perfect buy. With that said, it’s time to get serious about your home search and make sure you’re taking the right steps to find the home that suits your wants, needs and lifestyle. Let’s start with making an offer. In this market, it’s okay to want a great deal – but don’t use that as an excuse to make a low-ball offer. If the price of the home is already within reasonable market value, the seller may not take your bid seriously, and there are other buyers out there that will offer close to (or even above) asking price. If you’re serious about finding the right home, your Columbus, OH Exclusive Buyer’s Agent will help you write a realistic offer that will keep you in the game and get you that home!
Study: Along the lines of determining the right offer price, you and your Columbus Buyer’s Agent will also need to study the comparable nearby sales. Limit the search to recent transactions and don’t look beyond six months. In the ever-changing real estate market, a sale that occurred more than six months ago isn’t considered “recent.” Keep in mind that price isn’t all that matters. Average days on the market will also play a role in how you make an offer.
Research Your Credit: This should actually be the first thing on the list. Any Exclusive buyer’s broker will advise you not to enter a real estate transaction of any kind until you have researched your own credit report. This will dodge the delay and headache of financial surprises as you get further into your purchase. In fact, it’s best to be preapproved before making an offer, or at the very least letting your bank determine the range in which you will qualify. So before you start seriously searching, you will know how much you can afford and be able to narrow down your options in that respect.
Negotiate: Five years ago, many home sales involved intense bidding wars where would-be home buyers often didn’t stand a chance unless they came in above asking price from the start. Today, most home sales don’t reach asking price, so having strong negotiation skills is key to getting the home you want at a price you believe is both fair and realistic. Study the house inside and out and point out anything that you think could have an effect on the price of the home. If the seller is motivated they will hear you out! If you aren’t comfortable with negotiating on your own, discuss your concerns with your Columbus, OH Buyer’s Agent and we’ll do the talking for you.
Consider All Options: Short-sales and foreclosures can sometimes take a bad rap in the real estate market, but they shouldn’t be eliminated from you search. Often times the best deals are found with short-sales and foreclosures, the only downside is that these types of sales take more time to close and may involve jumping through more financial hoops. My advice? Be prepared.
If you’re ready to search for your Columbus, OH home, I hope these tips have given you a leg up in the process. If you still have questions, feel free to contact me anytime. I look forward to being your go-to guide for all things Columbus, OH real estate!
Andrew Show
Buyer’s Resource Realty Services
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