Home Buying Strategies


  • Determine your objectives, wants and needs, i.e., locations, budget, use of property, timing, etc.

  • Make sure you can obtain any financing you will require. (Determine your qualifications, your comfort factor on monthly payments, rates, source for deposit money, etc.) Do all of this BEFORE you find your home to increase your bargaining strength with your lender and also to reduce time-pressure and stress on you

  • Determine the kind of professional help you think you need to find and buy your property. For example, buyer agency or seller agency, attorney, appraiser, home inspector, lender, etc. Your knowledge of the area and property values are important factors in determining the help required.

  • If you are working with an agent, make sure you know whose side the agent is on. Know the office policies these agents must practice with. Dedicated or true buyer's agents NEVER represent sellers and buyers in the same transaction within their office. By holding to this high standard, all agents in these offices can work toward the best price and terms for buyers. They can focus on getting the most house for the money. Designated Agents can represent either a buyer or a seller. In offices that practice this way, your buyer's agent can have a close working relationship with the seller's agent. You must ask how the agent plans to insure that your phone, fax and e-mail communication is not being compromised inadvertently due to the structure and practices in these offices.

  • If you find a property that you like, you need to do research such as: find out as much as you can about the property, the community, the septic system, zoning, setbacks, water supply, etc. Buyer's agents do this work regularly and will give you lots of tips.

  • Walk the neighborhood and talk to residents on the street. You will be surprised at the useful information you will pick up. If you are shy, bring a gregarious friend along!

  • Prior to making any offer make sure you are familiar with other houses on the market that meet your needs and your budget objectives. Make sure you are also aware of the recent sales in the community and that you compare the house you want to purchase with these comparable sales. Your dedicated buyer's agent can give you this information without running into a conflict of interest with sellers represented in their office.