Since buyers (mostly first-timers) seem to be driving the Ann Arbor real estate market these days-I decided to make up a “Buyer Dos and Don’t Checklist”. It’s very easy for buyers, especially property virgins purchasing their first home, to get really exited. Now I know, it’s hard, but it’s important that they temper that excitement with a bit of common sense, when it comes to buying their Ann Arbor property. Hopefully, this checklist will help all you first-time buyers out there.
Tip#1: Don’t buy the most expensive home in the neighborhood. It may make you feel good, (temporarily) but you won’t get as good of a return and you may have challenges with selling it in the future.
Tip#2: Don’t believe everything you read in the real estate print or on-line ads. Words and phrases like “cozy” “needs a little TLC” “Handyman Special” should alert you to keep your eyes wide open. Descriptions like “stunning” or “breathtaking” are kind of silly too. Hey, we’re describing a house here-not some super-model in the “Sports Illustrated Swim-Suit Edition!”
Tip#3: Don’t buy a house because you like the furniture and decor. It doesn’t stay! For sure, homes decorated well always show better than vacant homes or homes that have flea-market decor, but try to picture the home with your stuff. Also, focus on the floor-plan and if the home fits your lifestyle.
Tip#4: Do investigate you new potential neighborhood thoroughly. Drive through at different times of the day and night. Check it out on the weekend if possible. After you’ve moved in-is not the time to discover the fact that the schools aren’t that great, the commute to work is too long, or you can now smell that chicken farm that you never knew was there a 1/2 mile away-when the wind blows in a certain direction. Check your potential new neighborhood out thoroughly!
Tip#5: Don’t buy the first home you see. Now, there are always exceptions to this rule, but in most instances, buyers, especially first-timers, need to look at multiple homes before they’re ready to pull the trigger. Hey, if you still love the first one you can always (if it’s still available) go back and make an offer.
Tip#6: Do hire a professional inspector: This is a must do non-negotiable rule here. I can tell you horror stories of buyers that tried to save a few hundred bucks and it ended up costing them thousands! A good inspector is trained to look for items the buyer with an untrained eye would never see. You MUST have an inspection! I won’t let you buy without one!
Tip#7: Do buy a house based on your NEEDS over your wants. We all have our wants, but when it comes to purchasing a home, which the average person lives in for 7 years-it had better fill your needs. If you’re dazzled by the view of the lake(want), but the kitchen is on the small side and you entertain a lot and you require a large spacious kitchen,(need) you will not be happy with your purchase down the road.
Tip#8: Don’t buy the house from the listing agent. Dear readers; I hope you know I am going to be possibly “tarred and feathered” by my fellow agents for that statement. I don’t care! I feel very strongly that a buyer should be represented by their own agent, with an Exclusive Buyer Agency Agreement in place. It would be like an attorney representing both the defense and prosecution in a trial. It wouldn’t happen in court and it shouldn’t happen in a home buying situation either!
If you have any comments or feedback about this post please enter them below. We specialize in assisting First-Time Ann Arbor Home Buyers realize their dream of owning a home and we would love to help you as well. If you have any real estate questions or concerns please feel free to contact me at the Wickland Group associated with Keller Williams Realty of Ann Arbor. We’re dedicated to providing our customers with a 10+ experience whether they’re relocating into or out of the Ann Arbor area because… Your Move Matters To Us!
By Steve Wickland
