CityView Magazine

30 October 2023 Don't forget to … Our homebuyer's checklist helps you navigate one of the biggest decisions you'll ever make. B uying a home can be a stressful experience, particularly if it's your first time. It's not something you should jump into without thoroughly preparing yourself by setting goals, getting your personal finances in order, and thoroughly understanding the challenges and pitfalls that inevitably add a bump in the road. Key to your strategy is finding a real estate agent you trust, one who takes the time to understand your goals and present options that match them. e old adage is that the top three strategies are (1) location, (2) location, (3) location. Yes, the location of the property you buy is undoubtedly a top priority, but there are many other elements you should seriously consider as you set out on your real-estate journey. CityView asked a few Fayetteville real estate agents what they would advise anyone in the market for a house should think about before proceeding. "Ask yourself this question: Will this place make me smile to come home to six months from now?" advised Perry Olive, a broker at Atlas Real Estate Partners (perry.homewithatlas. com/). Matthew Barrett, broker associate at Coldwell Banker Advantage (CallMattB.com), had some practical advice: "Make sure the roof and heating and air are in good condition." Here is a Top 10 checklist for things to consider when you decide the time is right to become a homeowner or buy a new one. 4. Speak the language: Understand what "closing costs," "down payment" and "earnest money" mean. And then there is "due diligence." Real estate transactions have a language all their own, and for first- time homebuyers, it can be confusing. If you don't understand phrases such as these, ask your agent to explain them. 5. Cost controls: Buyers should own their house, not the other way around. Factor the monthly payment into your family budget and consider how it will affect your spending. "A buyer's life does not need to change one bit with the purchase of a new home," says Olive. 6. ink about the long term: "Buy a home that will not present challenges when it comes time for you to sell," says Barrett. e size and condition of the kitchen will be an important factor in any resale. A primary bedroom should be large enough to hold a king-size bed and other furniture. 7. Address the basics: One room that everybody needs every day is a bathroom, with ready and convenient access. Consider how many people will be living with you and decide how many bathrooms are needed to accommodate everyone. 8. What's on your priority list? Barrett says adequate storage has become more important for buyers and privacy fencing is more appealing than ever. Other factors may include backyard space, parking and utility services, to name a few. 9. Analyze your financial situation: Check your credit score and work toward improving it, if needed. Tally those credit-card bills and consider payoff options. You don't want to stretch yourself too thin, so decide on a price point and stick to it. 10. Try not to settle: e market is always changing, and there will always be something new to meet your needs. "Finding the right home these days takes time and lots of patience," says Olive, who cites a current shortage of homes on the market. 1. Location: Yes, that is always a prime concern. If you have children in school, learn about school districts and the private- school options nearby that will give you confidence that your educational goals for your kids can be met. Also consider access to grocery stores and other retail services; the work and school commute; and traffic, safety and utility issues that will be important aer you make your move. 2. Keeping up appearances: "e neighborhood and how the neighbors maintain their yards will tell a potential buyer a lot about the area," says Olive. If the property is maintained by a homeowners association or has restrictive covenants in place, make sure you are comfortable with the terms so you are not surprised when those factors come into play. 3. Scout the competition: Talk to your agent about the interest in the homes you are considering. ere is more demand at some price points than others. A pre- approved loan can be helpful to narrow your price range and ensure owners that you are serious about buying a home. FEATURE

• Cover