When most potential buyers begin the process, they don’t think about all of the options they have to find their dream home. We want to change that, and we hope that this article will help. Be sure to check out the video as well for even more information!
- New Construction:New construction is just how it sounds. Buyers buy the home from a building company rather than from someone who has been living in the home. Sometimes there are options for customization, but you also typically have to sign in advance of the house being built to get that. When considering new construction, you can buy the home well in advance of the home actually being built, but you can also buy it after it has been completed if it is still available.
- Foreclosures:When home owners default on their mortgage, the court sells their home on the courthouse steps to get their money back. Usually these homes are some of the cheapest, which can be a great advantage, but it can also make it difficult to find out information about the house, and the purchase is always “as is,” which can be tough if the house is in bad shape. This option is better for people who are interested in fixer uppers or who are willing to take a little more of a risk to get a good price.
- Buy land and build: If you’re someone who really values location and land, you may want to purchase land and then build your dream house on top of it. The advantage of doing it this way is that you can personalize absolutely everything, but the con is that you may not know what building the house is fully going to cost until you’re done unless you stick to an extremely strict budget. If you have a little wiggle room in your budget and are looking for something incredibly specific, though, this might be the right option for you.
- Traditional Process:A large majority of people choose to participate in a traditional home buying process when they decide to buy. As for what that looks like, it basically just means that you as a homebuyer work with an agent to find available properties for sale by people looking to move out of their current homes. The main advantage to doing this is that it’s typically very easy to schedule showings of the home and get a real feel for what you’re buying, and when you submit an offer, you know exactly how much you’ll be paying. The only real disadvantage to this is that you’re pretty much going to get what you see, and if you’re a very picky buyer, you may not find what you want immediately and will have to wait. However, right now in the current Seller’s market, an another additional potential difficulty is that homes are selling extremely quickly, and there are often multiple offers that you will have to compete with on the best homes available, which can drive up the cost more than you might like.
- Investment/Flipper:This category is just want it sounds like, and this category is primarily for those people who aren’t worried about getting their hands dirty with home improvement projects. The main advantage to buying this kind of property is that they’re frequently sold for a great deal and can turn a great project. However, if you’ve never done handy work and aren’t knowledgeable about what a house could actually sell for with improvements, you’ll definitely need to do some research before purchasing in this category.
These tips have been brought to you by Maria Sims Group, a company dedicated to making sure that you’re in the best home for you. If you have any questions about our company or would like to ask about a personalized list of homes that would fit your needs, please reach out. Our homepage can be found at mariasimsgroup.com or you can call us at 404-805-0673.