You’ve found it—the perfect home! It’s got curb appeal to die for, the layout of your dreams, and design updates you would have handpicked yourself. And the best part? The asking price is in your range! All you want to do is call your agent and get an offer in front of the sellers—stat.
Not so fast…
The excitement of finding a house you love can sometimes overshadow reason. But even in a competitive market like the one we’re in now, you can’t afford to let certain considerations slide. Below are a few important factors you’ll want to address before making an offer.
(Don’t worry; you can still move quickly once you’ve determined that this is indeed the house for you.)
5 things to do before you make an offer
Consider the commute. How far are you willing to drive to work each day? Are there any mass transit options available? Is traffic a nightmare? As any good agent will tell you, location is a critical factor in choosing your new home. Make sure you’ve thought about it from every angle. (Hint: Nestfully offers key local details for each listing; check them out as you vet any potential new home.)
Work out your budget. Play around with the numbers and make sure that you’re not getting in over your head. Compare your estimated expenses for the new home with what you’re paying now. Is it still feasible? Don’t forget to factor in things like utilities, property taxes, and insurance costs.
Check out the neighborhood. Look into recently sold comparable homes in the area to see what they sold for and how long they were on the market. To get a better sense of the area and make sure it feels like a good fit, take a walk, talk to neighbors, and observe the overall setting.
Consider getting a pre-offer inspection. Many buyers are tempted to skip the home inspection when they’re afraid they might lose out to the competition. Resist the temptation. Having an inspection done before you make an offer can give you the upper hand in negotiations. But even if you include the inspection contingency along with your offer, don’t forgo this step altogether.
Tour it again. A second look can reveal things you didn’t notice the first time. This is a big commitment, so schedule a second walk-through to see if the home holds up to your first impression.
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