Have you decided it’s time to buy a new Tampa home for sale? Congratulations! The next few months of your life may be somewhat of a whirlwind. Although things will be hectic, you have to make sure you don’t forget to do these things before buying a home:
Think about the resale.
Although you may be focused on the present, you have to think about the future in terms of your home’s resale value in order to make a smart decision. Chances are, this will not be the last home you ever live in, so you have to be confident you will be able to resell the home down the road and make your money back. Talk to your real estate agent about trends in the neighborhood. Is the area expected to increase or decrease in value? Get these questions answered before you sign any closing documents.
Not thinking about additional expenses.
Smart buyers carefully think about their finances before making an offer on a home. If you want to make a smart decision, do not skip this step of the process. Don’t forget to think about additional expenses associated with owning a home and closing on a home. Buyers will have to pay closing costs, which can be thousands of dollars, and additional monthly expenses they may not have had before. All of this needs to be considered when you decide how much you can afford to spend.
Ignoring any restrictions.
Although it’s rare, some homes come with restrictions that prohibit homeowners from certain activities. For example, if you buy a home in a historic district, you won’t be able to take on any major renovations since you have to preserve the home. Some parts of the city may restrict where homeowners and their guests can park, which can become a huge inconvenience if you have a lot of dinner parties. Talk to your agent before buying and make sure the home you have your eye on does not come with any of these annoying restrictions.
Reading the HOA agreement.
Every homebuyer who is moving into a community with a HOA needs to take the time to carefully review the community’s HOA agreement with their real estate agent. If you don’t, you may not realize you can’t bring your dog with you or repaint the outside of your home without HOA approval. Don’t get stuck living in a community that restricts you from doing the things you love. Instead, carefully read the fine print included on every HOA contract.
Look at the neighborhood.
Make sure you are falling in love with the whole neighborhood and not just the home. Look into the schools in the area and the crime rate to get an idea of what kind of lifestyle your kids will have when you move in. It can be hard to say no to a home you love, but you have to do it if the neighborhood is not up to par.
For more advice on real estate matters, talk to the pros. Contact our team of real estate experts at Coast 2 Coast Realty who have years of experience working with both buyers and sellers in the Tampa area.