Buying a new home is, quite frankly, a complicated process. But it doesn?t have to be difficult. If you?re feeling daunted, you?re not alone: 32 percent of people in the market for new homes are first time home buyers. If you are looking to buy a luxury townhomes in an ideal location, there are a few basic steps to follow, once you?ve discussed your finances and budget with your bank.
The first is to search the real estate listings. While this has traditionally been done via newspaper classifieds and specialty real estate magazines, it is not surprising that a growing number of homebuyers conduct their search online. According to recent data, 92 percent of people looking for a new home start the process on the Internet. In that search for an ideal location, pictures are the first thing most people notice; in fact, 87 percent of buyers reported that photos were very useful, with 84 percent saying that the detailed information about the properties was very useful. However, it seems obvious that both are necessary. In any case, whatever properties you find on the internet have to be followed up with an in-person visit and extensive research.
The next thing to do is to find a real estate agent. No matter how much you find out online, nothing compares to the extensive local knowledge of an experienced real estate agent, especially when you are considering a new home community. Take the information you?ve gathered from your online research and share it with an agent who can help you process, analyze, weigh pros and cons, and actually get in to see the homes you?re interested in. In addition, when you give them a list of your needs, what you expect from an ideal location, and your budget, they will guide you to the new homes that best suit your combination of needs.
They can also help you decide whether you should buy a new or previously-owned home. There are a few things to weigh out. For example, recent data shows that at least 30 percent of buyers who purchase new homes are hoping to avoid renovations and the problems that older houses often present, like plumbing or wiring issues. Low maintenance living is high priority. On the other hand, 32 percent of buyers are willing to accept the potential renovations in favor of a better price on a previously-owned home. However, other considerations, such as location, may be of more importance to buyers, such as finding townhomes near your school district or place of employment.
Looking for an ideal location isn?t easy, but it can be made easier by combining online searches with the personal care of a real estate agent.