There are tons of websites and apps that let you research properties for sale easier and faster than ever. Doing it on a computer is even becoming a thing of the past as people have become so used to using their phones. The apps have an amazing list of free services as well. One of the top examples of this is how you can search specific areas and get notifications for new listings as well as price drops.
Being able to stay up on the market is something that everyone should do whether you own, rent or are in the market for a property yourself. The mistake people make countless times is that they wait for conditions to be absolutely perfect for them. In reality, you need to start as early as possible because the longer you keep an eye on a specific area or even a property you love, the more you can learn about it and also see how the prices are going.
Best Places To Research When Buying A Home
With several apps to rely on, it’s really up to you which ones you prefer to use. Remember, while it’s great that they have an app, looking on a computer can help you with things like virtual tours and checking out important details about the home. There’s no sense in wasting your time looking at properties if you are going to see some simple flaw in person that makes you decide not to do it. That’s why you want to invest more time into your research so that you waste less of your time when you need to move quickly and check out your top selections.
In cases of where to get the best information on a house, you should always begin the research yourself. However, once you are at least interested in the property, the next step is to send it to your realtor. Yes, you may not be ready to buy right at this minute, but it’s always good to work with a realtor as early as possible. The more time you can spend with them focusing on what you are looking for, the easier it will be for them to help you find what you really want. Also, because they are involved in this process as well, they can utilize their resources and experience to get you more detailed information about the property.
What To Focus On
If you have never purchased a property before, or you are moving to a new area because of work, you may want to focus on researching specific things to help you narrow down your selection as you get started. You do not want to go through hundreds of properties just to only determine that you are interested in one or two. Instead, focus on what you need to determine or be aware of before you begin your research:
- Area: What area do you want to live in? You know the deal very well. Each little neighborhood has its own advantages and disadvantages depending on who you are and what you’re looking for. Are you single and constantly looking to hit the nightlife? Then why not look for something closer to the areas you plan on spending most of your time? If you are looking to start a family you may want to go for areas that are less active and noisy. Determining your area is one of the best ways to narrow your search down as you begin.
- Price: It’s important to quickly determine the price that you are interested in calling the max you are willing to go. While you will look for the best deal possible, if inventory is low or property offers more than expected, you need to know whether or not you can manage the cost with a loan and by putting down as much as you can. Wasting time on properties you cannot afford will just make you more selective of the ones you can and cause you to miss out on a great home you may actually be able to get.
- HOA: Everyone feels differently about having an HOA. Every area has its own types of homeowner associations and each one is run differently. Some feel that they keep things in order and minimize the issues a neighborhood can have. Others feel that they can be too controlling and cost too much. This is where you may want to research what people have to say about their specific HOA before you consider buying.
- Look: Once you have narrowed your search field down based on location, price, and so forth, the next step is to actually focus on the look of the property and the home. Do you actually like how the property looks? Is this somewhere you can call your home? Do you like the way the rooms are, the bathroom or the kitchen? Yes, you may have plans to renovate but that can take years, especially if you are saving up. Instead, focus on if this is a place you can comfortably live in for a year or two.
It’s never easy to determine if a home is right for you or not. Knowing what to look for can be very important. Make sure that you and your realtor are checking all the boxes to ensure that the property you are interested in buying is in the shape you expect it to be. No home is perfect but things you overlook now could end up requiring a lot of money and time to fix a year down the road.
Keeping Notes
Whenever you are researching an area, make sure you take notes. If prices are going down as they are starting to now, you want to keep track of how fast they are declining, specifically what areas are declining faster and why. The more information you can get on these areas and their pricing, the better prepared you will be to go after the home when it becomes available. Do not expect to have much time to make an offer and go after a property, especially if interest rates go down. That’s why it’s important that you are prepared to buy and work with a realtor immediately.
