The Home Buyer's Guide
Buying a home is one of the biggest decisions you'll make in your life. Taking the home ownership plunge is a huge commitment, but Hooke, Hooke & Eckman aims to make it one of the most rewarding experiences of your life. We have built this guide to help you navigate the home buying process from start to finish with the help of your buyer's agent.
Decide If You Are Ready To Buy A Home
The decision to buy a home must be made by you, and you alone. However, your Hooke, Hooke & Eckman buyer's agent can help you in the decision making process because they have a wealth of information beyond your own personal factors. For example, your buyer's agent can discuss the local market conditions, financing costs and future housing needs.
There is also a myriad of personal factors to take into account when buying your home. You may think that you only need to budget for mortgage payments, buy in reality there are multiple costs to consider. These include: property taxes, home owners insurance, maintenance costs, homes owners association fees, closing costs, moving costs and fluctuations in interest rates.
Don't hesitate to contact an experienced agent at Hooke, Hooke & Eckman to get essential local market perspective and priceless knowledge about costs you can expect to face in your real estate transaction.
Find An Agent You Trust
An important aspect to any home-buying venture is finding the right agent. We know that honesty and trust in your Realtor is vital to a successful experience. Hooke, Hooke & Eckman agents are held to a strict set of company expectations that allow us to focus solely on your individual needs. We know how important market knowledge and experience is, and with over 60 years of real estate practice in the Carlisle area, we are ready to get our local know-how working for you.
Align Your Wants And Needs
One of the most important and challenging determinations you will make during the home buying process is choosing the price range you are willing and able to pay for your dream home. After that, there is a wealth of other preferences to consider.
Check out our list of considerations, designed to get your wheels turning to help you imagine the perfect home. Consider your priorities in order to help you strike the ideal balance between your wants and needs.
Get Pre-Qualified For Financing
The next step to successful home ownership is finding out how much you can afford. We will help you connect with local lenders that can provide you with financing options. Using a local lender can provide more personal access throughout the process, helping you turn that home of your dreams into reality.
Completing a mortgage application will provide you with the confirmation that your financing plans will work out as imagined. However, it is important to know that pre-approvals are contingent on the lender receiving all necessary documentation, and does not fully guarantee that you will get a mortgage.
Your pre-qualification remains an important step because your buyer's agent will use that pre-approval in their negotiations once you have found that perfect home.
Start Looking For Homes
Once you know how much you can afford or how much you are comfortable financing, it’s time to start the fun part – looking for homes! Hooke, Hooke & Eckman agents are ready to show you properties currently on the market and can save you time by providing updated listings throughout your search. In central Pennsylvania, new homes for sale hit the market every single day. Your buyers agent will be in regular contact with other real estate agents and sellers to ensure that you have access to all of the newest listings, as soon as possible. Your agent will also ensure that you only see the properties that meet your needs, saving you precious and valuable time.
We have worked hard to bring you a comprehensive website with the most advanced search tools on the market. Use this website as a resource to start your home search, get an idea of what is available, and learn about the local communities.
Make An Offer
Your Hooke, Hooke & Eckman buyers agent will prepare a Comparative Market Analysis (CMA) by examining recently sold properties, current and expired listings, and pending sales. This, along with your agent's comprehensive local knowledge and experience will give you specific insights that allow you to make the best offer possible. There are many different factors to consider:
- Supply and demand: Is the local market high-demand and low-supply? If so, you should be prepared to make an offer that competes with other buyers. Is the market low-demand and high-supply? If so, you may have room to save some money with a lower offer.
- Absorption rate: This metric can tell you whether you are working in a buyers market or a sellers market.
- Price of other, similar properties: One of the best ways to decide on what your offer will be is to look at the price of similar homes in the same area.
- Length of time on the market: A property that has been on the market for a long time may be wildly over-priced, or might have some basic problem that has no been disclosed to you.
- Property condition: Will the home need various repairs, or will you need to renovate it before it meets your needs? Don't overpay for a home that you will need to invest a lot of money into.
- Seller's motivation: Has the seller already purchased their new home and need to sell their current home fast? Take advantage of their need to close the deal. Does the seller have no motivation to sell? Understand that they are willing to way for the "right offer", so ensure that your offer is the right one.
Please examine our other resources for buyers. Check out our extensive glossary of real estate terms, designed to take the headache out of navigating the real estate market. If you'd like to discuss your home search, or if you have any questions about the local market, please call (717) 249-1844 or contact us online now.