First-Time Home Buyers Beware
What is the best way to find a starter home? Here are five tips from experts and local buyers on things you should do if you are looking for a Louisville-area home.
Get Your Own Realtor
“Buyers do not pay a fee to be represented in the purchase of a home. Everyone deserves an agent who will work in your best interests. The agent on the sign in the yard has been hired to work for the seller.”
–Susannah Stevenson, WR Realtors
Find Out How Much You Can Spend Each Month
“The best way to find a starter home is to work with a lender or financial advisor to determine what you can afford and how much you are willing to pay on a monthly basis to live there. You do not want to spend beyond your comfort level or have to give up other things that make you happy. It is best to be open to many areas and neighborhoods, but also make a list of your non-negotiable items so that you do not waste time looking at homes that are not suitable for your lifestyle.”
–Laura Rice, Kentucky Select Properties
Make a Good Offer Or Someone Else Will Get It
“A licensed realtor is knowledgeable of the current market conditions and will guide you in making a solid offer on your new home.”
— Ann Broderick, Semonin Realtors
“Negotiate firm. It’s a seller’s market because the inventory is limited, but you can still be successful at the negotiation and get into some pretty good houses. Still, it’s very much a market where your realtor has to be networked and be on top of it, maybe even get you in to see the house before it goes on the market. I was the first to see the house I ended up buying. It had just hit the market and there were several more showings that day, but I was the first to make an offer, and I got it.”
— Christopher Funk, recent buyer
In this seller’s market, it is good to be thinking about the future, but also to act quickly. These realtors give some advice in this issue of Today’s Woman.