Key Issues to Address Before You Buy a Home

by Kelly McLain Treacy 05/12/2019

If you intend to purchase a house soon, it helps to prepare for the home buying journey. In fact, if you identify potential issues before you start your quest to find your dream home, you could avoid them during your property search.

Now, let's take a look at three common issues that plague homebuyers, along with tips to address these problems.

1. Lack of Home Financing

In some instances, a homebuyer will check out residences and find one that matches their expectations. Next, this buyer will submit an offer to purchase a home that ultimately gets accepted. At this point, however, the buyer may discover that they lack the necessary financing to acquire this home.

Entering the housing market with financing in hand is ideal. If a buyer gets pre-approved for a mortgage, they will know precisely how much money is available for a home purchase. As a result, this buyer can map out their home search accordingly.

To get pre-approved for a mortgage, it helps to meet with a variety of banks and credit unions. These financial institutions can teach a homebuyer about his or her mortgage options. Plus, they can help you make an informed mortgage selection.

2. Tight Home-buying Timeline

If you have only a limited amount of time to move from your current address, you may rush to purchase a house. In this scenario, you risk making a rash home purchase – something that may prove to be problematic both now and in the future.

For buyers who face a tight home-buying timeline, there is no need to stress. If you make a list of home-buying tasks you need to accomplish, you can take a step-by-step approach to the property buying journey.

3. Unrealistic Home-buying Expectations

You may expect to buy your dream residence without delay. Yet the real estate market offers no guarantees. And in certain instances, it may take many weeks or months before a buyer finds a house that they want to purchase.

To establish realistic home-buying expectations, it usually is a good idea to work with a property buying expert. Lucky for you, real estate agents are available in cities and towns nationwide, and they can provide home-buying insights that you may struggle to obtain elsewhere.

A real estate agent is committed to a homebuyer's success. As such, he or she will work with a homebuyer and help them prepare for the housing market. A real estate agent will also set up home showings and provide feedback about available residences in a buyer's preferred cities and towns. And if a buyer finds a house that they want to purchase, a real estate agent will help this individual put together a competitive home-buying proposal, too.

When it comes to purchasing a home, you should plan for the best - and worst-case scenarios. If you consider the aforementioned home-buying issues before you begin your house search, you can boost the likelihood of enjoying a successful property buying experience.

About the Author
Author

Kelly McLain Treacy

Prior to launching a career in real estate, Kelly was a financial professional, starting at KPMG in Miami, where she earned her CPA as a forensic accountant. She excelled in her field working with various equity trading businesses at leading investment banking firms such as Lehman Brothers, JP Morgan, and Deutsche Bank, while living in NYC, Zurich, and London. She also spent time working in Tokyo and Sydney. 

With her vast experience, Kelly intimately understands the emotional and financial investment of selling or purchasing a home and will manage every detail of the process. She grew up in a family of real estate agents, general contractors, and property developers and has an appreciation for all aspects of the industry from start to finish. Combined with her determination, high integrity and strong work ethic, along with her professional skills highlighted below, she will go above and beyond your expectations to negotiate the best deal for you. 

Professional Skills:

Managing client relationships, negotiation skills, and diffusing difficult situations;

Easily adapts to different cultures and backgrounds;

High attention to detail and able to manage large amounts of financial data;

Efficiently and effectively multi-task in a fast paced, high pressure environment;

Determination and tenacity to finish whatever she starts, ensuring deliverables are completed and issues are resolved.

Personal Highlights:

Graduated from the University of Florida with a Masters in Accounting and BS in Business Administration (Management and Accounting);

Lives in Mill Valley with her family where they take full advantage of the beautiful open space and outdoor opportunities that Marin county offers;

She is an avid sports enthusiast participating in Ironman events, ultra-trail marathons, alpine climbing, paddle boarding, and yoga.

She is passionate about various causes that have impacted her life and giving back to her community:

American Foundation for Suicide Prevention

ALS

Financial Women of San Francisco

PTSA - Mill Valley Middle School