Welcome to part 1 a multi-blog discussion on “Your First Home” The Proven Path to Home Ownership by Gary Keller with Dave Jens & Jay Papasan. I will discuss key points from the book, if you would like to purchase it and follow along you will find an image below to help you find it faster. It can be found at your local bookstore or online. This is a great read for first-time buyers,
The decision to buy a home is a big one. A home is one of the biggest investments you will ever make. Owning a home offers security, tax advantages, value appreciation, and equity buildup.
No one will tell you buying a home is easy. There is however scores of professionals out there ready to help guide you through the process. In order to seek out these professionals look to people you know and trust and ask for referrals. Ask for referrals on home loan companies, real estate agents, home inspectors, appraisers, pest inspection companies, and attorneys. Your real estate agent can help with referrals too.
You dont have to know everything. You have decided to buy a home and suddenly everyone around you has opinions, advice, and horror stories….don’t let this stress you out. Instead, keep a list of questions and concerns and address them with your chosen professionals. Basic knowledge you should have would be knowledge of the home buying process, local market stats, and knowledge of what you are looking for in your home. The only one of those three you need to stress over is the last – your agent can give provide you with the first two.
I will close this session with a summary of “The 4 Fundamental Principles of The Real Estate Buying Process” (pg 16).
1. The rules of real estate are always local.
Local laws, local codes, local market stats, local agents who
know the local market.
2. The best deals are usually win-win.
Win-win or no deal is Keller Williams ”philosophy”.
3. Price and value are not the same.
Value is percieved – in the eye of the beholder.
I may find value in a pool and you may not be able to swim.
4. Choose with you heart and your head. Dont forget the last one.
I recommend a support team when buying a home, or to sleep on
it when unsure. Visit a home a few times, and at different times
of the day. Have your agent prepare a CMA for the home you are
interested in.
Next time…….Facts and Fears on Home Buying.
