Ignite FB Tracking PixelHow to Use Your Past Homebuying Experience to Your Advantage - Kevin Reid

How to Use Your Past Homebuying Experience to Your Advantage

by Kevin Reid 11/19/2018

Are you an experienced homebuyer? If so, you may be better equipped than others to enjoy a quick, worry-free homebuying experience.

Ultimately, a veteran homebuyer can learn a lot from his or her past experiences, including:

1. How to Avoid Paying Too Much for a House

The housing market offers many opportunities for veteran and first-time homebuyers alike. However, a first-time homebuyer may struggle to pounce at an opportunity to acquire a top-notch house at a budget-friendly price. On the other hand, an experienced homebuyer likely knows what it takes to acquire a house at a price that matches or surpasses his or her expectations.

As an experienced homebuyer, it generally helps to think about how you narrowed your price range when you most recently searched for a home. This experience may guide you as you look to establish a price range for an upcoming house search.

Furthermore, a veteran homebuyer may know exactly what types of housing market data to examine before entering the real estate market. By evaluating the prices of recently sold houses and available residences in cities and towns where you'd like to live, you can use assorted real estate market data to accelerate your home search.

2. How to Get Home Financing

If you struggled to get a mortgage for your first home, there is no need to deal with home financing problems once again. Instead, a veteran homebuyer can allocate the necessary time and resources to get pre-approved for a mortgage and enter the housing market with a budget in hand.

To receive pre-approval for a mortgage, it usually is a good idea to meet with various banks and credit unions. These financial institutions can educate you about myriad mortgage options and help you select the ideal mortgage based on your homebuying needs.

3. How to Differentiate a Buyer's Market from a Seller's Market

Regardless of whether you previously bought a house in a buyer's or seller's market, you can use your past homebuying experience to help you assess the current state of the housing sector. Then, you can map out your homebuying journey accordingly.

If you notice houses are selling quickly at prices above their initial asking figures, you may be preparing to enter a seller's market. In this scenario, you may need to act quickly to acquire a great house.

Comparatively, if you find that homes are lingering on the housing market for many weeks or months, a buyer's market may be in place. In a buyer's market, you may be able to purchase a stellar house at a discounted price due to the sheer volume of houses that are available.

Before you launch a home search, it is important to note that even a veteran homebuyer may need help at times. If you hire a real estate agent, you can receive expert support throughout the homebuying journey. In fact, this housing market professional will make it easy for you to discover a superb house in no time at all.

About the Author

Author
Kevin Reid

Thank you for visiting my website. I have created it to be informative, interactive and helpful to both buyers and sellers alike.

I am a Broker/Owner of Capurro & Reid Real Estate, LLC. I have been active/licensed by the State of Nevada for the past 32 years, and a broker for the past 18 years. I am a lifelong native of the Reno-Sparks area, and I have the local experience and knowledge to assist you in your real estate needs.

If you own real estate that you're thinking of selling, I would be happy to provide you with a Free Market Analysis. Send me an email, and I will gladly provide you with current market statistics, and a market analysis of your property.

Whether you are buying or selling, hire professional like myself, who wants to earn your business. I am an e-Pro Certified Internet Professional, a designation recognized by the National Association of Realtors. I believe that technology as it relates to real estate, and how to manage it, is a crucial element in today's market.

In addition, if you have any general questions about buying or selling real estate in Reno/Sparks Nevada, please contact me, as I am more than willing to help. I invite you to contact me. I am happy to assist you with these very important transactions.

Sincerely,

Kevin Reid
Capurro & Reid Real Estate, LLC
9645 Gateway Drive, Suite "A"
Reno, Nevada  89521
[email protected]
775-850-5000 Office
775-722-0121 Mobile
866-394-1772 fax