Top 6 Home Buying Tips For 2016

The start of a new year is a time for change. What are your plans for 2016? If part of your plans include relocating to the Lake of the Ozarks or buying a new home in Mid-Missouri, I would be honored to help you with the process! This week, I want to share with you some of the top home buying tips for 2016. By incorporating these strategies into your home search, you will be well on your way towards setting yourself up for success!

1. Begin Your Loan Application Process ASAP
Believe it or not, you do not have to have a specific home in mind to begin applying for a mortgage loan. By getting prequalified or preapproved before you even begin touring the homes for sale at the Lake of the Ozarks, you can greatly simplify (and accelerate) the process.

2. Start Tracking Your Budget... Yesterday
Owning a home is incredibly rewarding, but it requires a great deal of financial responsibility. If you are thinking about buying a house at the Lake of the Ozarks, I strongly encourage you to begin keeping detailed track of your daily, monthly, or weekly budget. You'll need to know exactly how much room you have in your budget for a mortgage payment, desired upgrades, and any necessary repairs.

3. Always Think Resale
It doesn't matter if you are planning on living in your new home for three years or for thirty; you should always consider the resale value when you buy a house. Odds are that at some point, you or your heirs will sell the home, and you want to be confident that you can get a great return on investment when the time comes.

4. Consider The Extra Expenses
When you're buying a house, you will have to cover a lot more expenses than the asking price of your new home at the Lake of the Ozarks. You will also have to cover the home inspection, the appraisal, the closing costs, any association dues, your new utilities, and any desired (or necessary) upgrades and repairs. Make sure you leave room for all of these costs in your budget.

5. Remember That You're All On The Same Team
Some people think of buying real estate as a combative experience. The buyers want to pay the lowest possible price, the sellers want to get the highest possible price, and the lender's want to secure the highest possible interest rate. However, it's important to realize that everyone is on the same team. The buyers, the sellers, the real estate agents, and the lender all want the sale to go through. There's no reason to make it combative.

6. Hire A Real Estate Agent
Your real estate agent at the Lake of the Ozarks will be your guide, your representative, and your advocate throughout the entire process. Buying a home can be a complicated process, and having an agent to help you navigate the process can be a huge weight off of your shoulders. I would be honored to help you in any way I can!

Susan Spica, Professional Realtor

BerkShire Hathaway HomeServices
101 Crossings West, Ste. 202
Lake Ozark, MO 65049

Office: (573) 365-6868
Susan's Cell: (573) 280-0484
Gina's Cell: (573) 889-9477