What If It Isn’t Perfect? Should You Buy That House?

As we watch prices rising in some areas, mortgage rates staying low and foreclosures being liquidated from the market it is a perfect environment for purchasing real estate. But what if you can’t find your dream home? Let’s take a look at a few things to consider if you are torn between buying now or waiting for the perfect property to come along.

The first thing to consider when you are thinking of entering the market is financing. It is crucially important to have your financial “ducks in a row” and a mortgage pre-approval in hand before starting to look at homes. In a previous article we explain in depth why this is so important but an additional reason is that you want to be able to make a move if you do find your dream home. As the market continues to improve houses are spending less time on the market and you will not want financing to be the only thing standing between you and your new home.

Next, make a list of your “must haves”, the things that will make a home perfect for you. From there narrow the list down. Explore why each item is a must have and decide if it is really just a want that can be worked around if the other terms outweigh not having that criteria met. Place the biggest concern on items that cannot be changed like location or in some cases square footage. When you are finished with this process you will have a list of “absolute must haves” and will be opening yourself to a wider range of possible homes to consider. Once you have found a home that meets the criteria you absolutely must have you will be able to determine if there are inexpensive ways to add the other items over time. When you visit homes remember things like furniture, appliances and decor can usually be changed inexpensively to better suit your tastes. Try to look beyond these things to the condition of the property, the potential future value and if it meets the criteria you have set on your list.

When you have found a property that is suitable for your current needs we will help you in determining the financial value of the purchase. When you combine your must haves with the financial value of a particular home you will many times find that it makes sense to move forward with an offer while rates are still low and prices have not completely recovered. Make a sound investment now and it will put you one step closer to owning a home that is perfect in every way in the future.

There are so many homes to choose from in the Smoky Mountain region at this time that we are confident once you are armed with your “absolute must have” list and your pre-approval letter you will have no trouble finding a home that is so close to perfect you will know it is time to purchase. Please take some time at our website to explore some of the many options available.

Here Are A Few Of My New Listings:

Smoky Mountain Charm Has produced right around $15,000 in gross rental income for each of the last two years! Three level chalet with a bedroom and bathroom on each floor for maximum privacy. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

 

Breathtaking Mountain Views Gorgeous home in Cobbly Nob with an equally gorgeous Smoky Mountain view. Enjoy a spacious floor plan, currently configured with three bedrooms, level parking, a four seasons room and a two car garage with an attached car port. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $298,500 Get more information >

 

Totally Updated & Great Views Almost $30,000 in rental income for 2010 & 2011! High quality construction and a great view combined with tasteful updates should put this one on your short list. Type: Single Family Home Location: Chalet Village Price: $229,900 Get more information >

 

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