That depends, of course, on your income and other financial obligations. Plug theminto aHome Affordability Calculatorfor a ballpark figure beforeyou start shopping. If you see houses you love outside your price range, it opens you up to disappointment. Meet witha lender to get pre-approved for a home loan(added bonus: pre-approval makes you much more attractiveto sellers).
Can I buy a home and sell my current one at the same time?
Yes, you can — but it's the real estate equivalent of walking a tightrope. This is one of the trickiest questions to answer. On the one hand, if you buy a home before you sell the one you're in, you're overextended financially. If you sellbeforeyou buy, you might need to rent awhile before findinga new place. But there are ways to do both at once, and one option is to inserta “home sale contingency" in your contract. This means you only agree to buy a home if you can sell the one you're in. The downside is sellers may not agree, especially if the market is hot with a lot of buyer competition.
How many homes should I see before making an offer?
While home shoppers these days can look at hundreds of homes online, they only hoof it to check out 10 homes on average, before they put in an offer. But keep in mind, this varies tremendously for each person. Some people find their home within hours of hunting, but for others, it takes months. If you want to streamline the process, it can help to really hone in on a particular neighborhood you're keen on. However, if you feel limited by your options, it may be time to expand to surrounding areas.
What do you think the seller will accept as a fair price?
As a rule of thumb, knocking 3% off the list price won't ruffle any feathers, but may not be the case in a busy market. You may have to be prepared to go in over asking price. If it's been sitting on the market for months, you could venture below that, but the bottom line is, you never know how low a seller will go, as they all have different motivations for selling. If the sellers are eager to move, you could luck out and score a deal.
Home Search Tools!
Smart Search Technology: “Smart Search” is the only real estate search in the industry designed to learn and interact with you as you search for homes. As you log on to www.TheCascadeTeam.com and begin saving listings, our exclusive “Smart Search” technology will begin learning what you are looking for and make suggestions for you based on Price, Beds & Baths, Location, Schools and more. Start a search in one area, and then find another area of interest? Smart Search will adjust for location and begin finding homes for you in your new search area. Smart Search is a fully intuitive search system guided by your preferences. It will scour the web for new listings that meet your criteria and let you know the moment something new matches what you’re looking for in a home.
Download the newly redesigned Cascade Team App today. It's beautiful, powerful and lightning fast. It's an easy and convenient way to look for a home.