The BEST Real Estate Advice I Can Give You As A Buyer
Thinking about buying a home? Before you make any moves, here are the 7 BEST tips you need to know to save money, avoid headaches, and get the deal you deserve!
Tip #1: Get Pre-Approved for a Mortgage
One of the first things I always recommend to buyers is to get pre-approved for a mortgage before you start looking at home. It not only shows sellers that you’re serious, but it also helps you establish a realistic budget. This way, you won’t fall in love with a home that’s out of reach financially. Trust me, this step will save you time and disappointment! Also, you want to be pre-approved not just prequalified. Preapproval means you have submitted your documentation, and the lender has verified income and assets. This is a much stronger letter to provide when submitting an offer.
Tip #2: Don’t Skip the Savings Plan
Saving for a down payment isn’t just about hitting that magic 20% number. You also need to budget for closing costs, moving expenses, and even a cushion for any immediate repairs or upgrades after you move in. I always advise clients to create a savings plan that covers more than just the down payment. I am a big Dave Ramsey fan and an Endorsed Local provider for his program. He has several books and programs about how to pay off debt, save for a down payment and have an emergency fund. Being financially prepared means fewer surprises later.
Tip #3: Don’t Fall in Love with the First Home You See
It’s so easy to get excited about the first home you tour, but remember, it’s important to see multiple properties. Buying is emotional! I totally get how easy it is to fall in love with a house at first sight—whether it’s the perfect kitchen or that cozy backyard. But deciding based purely on emotions can lead to some real regrets later. Even if that first house feels perfect, touring a few others will give you a better idea of the market and help you feel more confident in your final decision. Keeping a clear head and not rushing will help you avoid buyer’s remorse.
Tip #4: Make a list of must-haves
It’s important to distinguish between your needs and wants. As much as we all dream of finding the perfect home, sometimes compromises must be made, especially when it comes to size or certain features. I have clients that are looking at million-dollar homes and they have to comprise. You would think in that price range they should be ablet to get everything they want but there is always compromises. I always tell my clients to focus on things that can’t be easily changed, like the neighborhood or floor plan, and be flexible on the cosmetic details like paint or fixtures. A lot of buyers look for homes that are remodeled and updated and you will pay top dollar for those homes. If you can overlook cosmetic items, you may be able to negotiate a better price on the home that needs some work. Flooring and painting can be handled after the close of escrow and you would be surprised at how inexpensive these items can be. A must-have list allows you to keep in mind what truly is important to you on the home you buy and what items you can compromise on.
Tip #5: Always Get a Home Inspection
Even if you think you’ve found your dream home, never skip the home inspection. A good inspector will help uncover any hidden issues that could cost you down the road. It’s a small price to pay upfront for peace of mind.
I see some scary things come up on home inspections like mold and structural concerns. I have a listing right now that has expansive soil, and the bids to handle it have come in over $100,0000. It is an estate sale, so my sellers were not aware of it. We only discovered it during the home inspection. It is very common to see plumbing items and roof tiles that are slipped or cracked.
Most Sellers will agree to complete some repairs or credit toward those items so having an inspection is essential for protecting your investment. It gives you the peace of mind that there are no major issues lurking in your new home, or it provides you with the information you need to negotiate repairs or even walk away if necessary.
Tip #6: Don’t Overextend Yourself Financially
It’s easy to get caught up in wanting the perfect home and stretch your budget to make it happen. But I always remind buyers to stick to what they can comfortably afford. You don’t want to become “house poor” and struggle with your monthly payments. Plan for the future—your mortgage should fit comfortably within your overall budget, leaving room for savings and unexpected expenses. The best way to do so back to our step 1 – which is get preapproved and know what price range fits best for your budget. I have some buyers ask me, “When is a good time to buy?” The priority really isn’t about timing the market. It is about making sure you can afford the payment and that the house is a wise investment for you long term.
Tip #7: Work with a Realtor You Trust
This might be the most important tip. Having a knowledgeable realtor by your side can make all the difference in navigating the home buying process.
A good Realtor will help you avoid common pitfalls. For instance, we know if a property is priced fairly, and we can help you navigate the whole process—from negotiating the best price to handling the paperwork. Many clients don’t understand that a Realtor can be a huge resource for new home construction. We can help you negotiate costs, incentives and the sale price!
There’s so much more to it, especially in Henderson. The market here is unique, and it’s constantly changing. Having a realtor who’s up to date on those changes can make all the difference.
I always strive to be a trusted advisor for my clients, ensuring they feel confident in their decisions. As someone who knows Henderson like the back of her hand— I can be a huge asset. We have access to listings that you might not find online, and we can give you insights into neighborhoods that you just can’t get from a website.
