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What Should I Consider Before Purchasing My Next Home?

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A home is the largest purchase many people make. Like any major decision, homeownership requires careful considerations:
Be clear about your purchasing reasons
  • Is your family changing?
  • Are you down-sizing?
  • Do you need to relocate for a new job?
  • Are you moving to a new location?
  • Do you want certain amenities or features?
Estimate the cost of selling your current home
Before pricing your home, calculate sales costs, including:

  • The cost of repairs needed to maintain your home’s value. If you have a leaky roof, or need electrical or plumbing work, your sales price is likely to be lower to cover those costs.
    • Consider hiring a home inspector to uncover any hidden problems.
  • Making cosmetic improvements to increase the ‘curb appeal’ of your home. Relatively lower cost items, such as painting or landscaping, can make your home more appealing to potential buyers.
  • The amount you will pay in real estate commission. Real estate agents receive a percentage of the home sale as a commission.
    • If you are considering selling your home yourself, estimate your time and costs for advertising, showing the house to prospective buyers and handling negotiations.
  • Other miscellaneous expenses.
    • Is there a prepayment penalty on your mortgage?
    • Will you incur the cost of temporary storage for your personal items while showing to potential buyers?
    • Have you planned for moving and some packing costs?
Estimate the sales price for your current home
  • If your home is priced realistically, you may be able to sell it faster.
  • Property appraisers set a price by comparing a home to recently sold, nearby properties similar in square-footage, room number, age, and features.
  • Your real estate agent will help you decide on a listing price by getting a list of comparable properties.
Consider purchasing a home that needs renovation
  • Homes needing renovation may be available below market value.
  • Our Purchase & RenovateSM Loan may enable you to buy and repair with one loan.
  • Consider that remodeling and repairs may require hiring a contractor, depending on the loan you choose.
  • The Wells Fargo’s Mortgage plus Home Equity Financing option combines a Wells Fargo first mortgage together with home equity financing. There may be tax benefits and reduced closing costs with this option. (Consult a tax advisor on the deductibility of interest.)

About driggersteam

We want to help you find the right home for your family in an honest and professional way. We love the opportunity to work with buyers and sellers. Whether first time home buyers or experienced home buyers, we are ready to help you! We have the experience needed to ensure a smooth and easy transaction. With highly trained negotiating skills, we can help you get the right price for your home. We are determined to work hard for our customers and clients. It is our pleasure to offer you an overview of the Warner Robins Georgia area real estate market. As REALTORS® who know the Warner Robins area inside and out, We have the ability to represent both home buyer and home seller equally, ensuring that both parties find just what they are looking for in their real estate transaction. Give us a call or email today! Call Anisa at (478) 256-1064 or Mick at (478) 256-0979.

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