Traits of Successful House Hunters

Searching for the ideal home is an exciting adventure, but it can also be fraught with setbacks, delays, and disappointments. With a little preparation, however, you can avoid many of the potential pitfalls that could happen along the way.

One of the secrets of successful house hunters is to adopt a positive attitude, but temper it with a dose of realism.

Flexibility is also important, but it pays to be steadfast about your absolute requirements, also known as your “must have” list.

To help ensure a successful house hunting experience, here are a few of the key attitudes and qualities that are worth taking inventory of and cultivating.

Persistence: Although it does happen, it’s unlikely that the house of your dreams is going to show up at the beginning of your search. As seasoned house hunters know, it’s not unusual to have to look at dozens of houses for sale before finding just the right one. But even when you’ve reached that turning point, there still may be obstacles, hurdles, and challenges to deal with. The perfect example is a bidding war. What if you’re all ready to make an offer on the ideal house, but it turns out that one or more other buyers have their sights set on that same house? That can not only be stressful, but it can stretch your housing budget to its outer limits (and beyond)! On one hand, you have to be willing to walk away from a property that would leave you “house poor”, but on the other hand, you may want to consider pursuing a real estate deal that’s on the high end of your budget, but financially doable. Working with a knowledgeable real estate agent who’s a skilled negotiator can help give you an edge when you’re confronted with a so-called “bidding war.”

Optimism: If you view house hunting as a process which will eventually produce your desired outcome, then you’ll be a lot more motivated to go the distance, rather than lower your standards or give up entirely. A positive attitude will help you overcome setbacks, identify workable solutions, and recognize opportunities when they present themselves.

Organization: Whether you prefer the idiom “The devil is in the details” or “God is in the details,” the lesson is still the same: Small details can have a big impact. Staying goal-oriented and organized can help propel you forward and avoid frustrations. Knowing your credit score, establishing a realistic housing budget, and scheduling meetings with mortgage lenders will help you stay on course, be prepared, and steer clear of unnecessary delays. It also helps to take notes, create lists, and follow a daily or weekly action plan.

Buying a house is an important priority which can affect the quality of your life in many ways. By staying organized, focused, and positive about your search, your chances of success will be enhanced many times over.

Secure Winning Home Buying Agreements

Put your money to good use with these house buying secrets. First of the secrets to house buying deals could have a positive impact on your overall financial health. As a first step, avoid taking on large one-time or recurring expenses six to eight months before you purchase your home.

Clean up your credit

Review your credit reports with the top three credit bureaus, Experian, TransUnion and Equifax. Notice any inaccurate items on your report? Write the credit bureau that posted the items. Also, contact relevant vendors, altering both the bureau and vendor of the errors. Provide evidence that confirms that the postings are incorrect. Follow-up with bureaus and vendors, as needed until all erroneous items are removed from your credit reports.

Also, pay off any outstanding debts that aren’t on your credit reports. At the least, become current with all of your bills. Good credit scores could save you thousands over the life of a mortgage.

Size matters

Look for a house that’s large enough to meet your current and future needs. But, don’t buy a house that’s too big. For example, if you plan on having two children but are currently childless, look for house buying deals on a three bedroom home versus a four or five bedroom house.

Age could yield savings

If you or your partner has repair skills, be open to buying an older home. You may get the space that you need for a lower price, especially if an older house passes thorough inspections.

Check out the neighborhood

Research crime history, schools, community events, economic development and businesses in neighborhoods where you want to buy a house. No need in buying a house in a high crime neighborhood or in an area that has a poor school district. Money that you save with smart house negotiating bids could evaporate with one to two home invasions.

Steer clear of impulse house buying deals

Don’t let your emotions determine which house you buy. You may feel warm when you step into the expansive back yard or check out a stylish master bedroom and the spacious en suite, but that feeling won’t hold if you can’t afford to buy furniture after you close on the house. Instead, be honest when identifying how much house you can afford.

Include interest and repairs when you consider the total amount of money you can spend on a house. Leave enough money in your paycheck to pay all of your expenses and pay for entertainment. Don’t put the squeeze on yourself.

New furniture can wait

If you currently live in an apartment or another house, keep your furniture. Spruce your new house up with accessories like silk flowers, baskets and rugs. You can buy new furniture, a piece at a time, after you get accustomed to paying the new mortgage.