Let me introduce you to Carl and Lisa. They have been married for three years, are expecting their first child, and lived in a one-bedroom apartment. It was time to buy a house!
Now let me share with you some key steps they took in their journey to homeownership, steps that ensured they got their dream home:
•· They made sure they were financially secure. For three years, Carl and Lisa have rented a one-bedroom apartment and lived below their means, saving for the day they would buy a house. The payoff: They had a healthy down-payment at closing, negotiated for closing costs from the seller, and had enough left over to purchase necessities such as appliances and furniture.
•· Their timing was perfect. With baby expected the end of June and their lease not up until May, they could comfortably close the end of March. The payoff: Having that goal in mind helped keep them on track for finding their home. Within just a few weeks, their home was found and we successfully closed the end of March, giving them the luxury of taking their time to move in-- a big stress relief!
•· They knew what they wanted. She knew she wanted a formal dining room; he knew he wanted a basement. We sat down together and talked about what they pictured in their "dream home." Her real dream: a Victorian style home with a front porch. They knew they would not likely get everything they wanted, but we kept these things in mind in our search. The payoff: They purchased a totally renovated Victorian-era farmhouse complete with a wraparound porch and they are in love with it.
•· They assembled their "dream team." Their mortgage representative was a recommended trusted friend with a reputable, local bank so their financing was secure. Prior to placing an offer, we went back for another look, this time with a few friends in tow. They brought their electrician friend, a friend who does insulation, and one who does flooring, all with varying degrees of construction knowledge. Once under contract, they hired an experienced licensed home inspector who was knowledgeable about older homes. The payoff: There were no big surprises at the home inspection and they knew exactly what they were buying.
•· They wrote a letter to the seller. If there is a chance a home has other offers, I encourage my buyers to write a letter to the seller when submitting an offer. Their letter introduced themselves to the seller, explained their situation, and shared their hopes and dreams for their new life in his home. The payoff: The letter helped my buyers keep focus as to what this house meant to them. The seller, having never received a letter like that before, was extremely touched. All negotiations after that went very smoothly. The seller agreed to make all repairs according to the home inspection, and at closing gave my buyers old pictures and history of the house, making this a very friendly transaction.
Carl and Lisa did not find a perfect home, but they found the home of their dreams. They are slowly moving in and making the new house their home. Lisa told me the other day that when there is a day she does not go to the new house, she feels a little sad! They are totally in love with it and looking forward to settling in soon, in plenty of time for baby's arrival.
