Many first time home buyers are very prepared for the process. Some have no idea where to start. In between is where most fit. Virtually everyone that is beginning to think about buying their first home gets lots of advice from everywhere. Family, friends, work associates and more are happy to share their successes, disappointments and experiences to help you decide what’s best for you. The reality is much of this advice is good. The other reality is none of these people are you and experiences that happened years ago are less relevant in today’s world. The fundamentals will always apply . . . or will they? Everyone has heard location, location, location. That is still a great guide but really there are 3 key factors. Location, condition and price. It is the evaluation of these 3 factors once you’ve found the home that works that help us help you decide how to negotiate.
There are so many moving parts today that are somewhat oversimplified by the online world. Services such as Realtor.com, Zillow, Trulia and more are helpful but it is the deeper understanding of how a home sits in a market that determines value. Asking price is just that. It’s the 3 bears syndrome really. Sometimes the price is too high, sometimes too low and sometimes just right – but the more you know going into a negotiation, the more power you have in that negotiation.
The bottom line is – this is an exciting time. We find nothing more rewarding that helping a first time homebuyer realize the dream of home ownership and when done right… the closing is a very fun experience indeed.