We would love to write the script for a show, “The Real House Hunters of Chittenden County.” This reality show could follow a group of buyers in their search for the perfect house. Alas, no one has called us (yet) to work on a pilot, so we’ll just regale you with a few house hunting tips to save you some drama.
Episode I – Heartbreak on Hilltop Drive
Joey Jones thought he was approved for a $450,000.00 loan … after we found the perfect house on Hilltop Drive he found out that he was only qualified for a $250,000.00 loan. It was heartbreaking to see Joey burst into tears.
Real LifeTip: Make sure you are pre-approved with a mortgage lender. This sounds so basic but if you don’t take this step it will lead to unnecessary stress once you start the house hunting process. We have met with buyers who are certain that they are qualified for a certain mortgage amount and start the house hunting process with an unrealistic price point.
Episode II – Snooze and Lose on Sleepy Hollow Way
Tiffany Thomas thought she had time to think about putting in an offer on her “almost” perfect dream house on Sleepy Hollow Way. She dismissed her alarm by mistake when she should have set it to snooze. Once she emerged from her long winter’s nap she called her Realtor to put in an offer. Alas, the house just went under contract with another buyer, apparently an early riser. Tiffany spends the next week in bed mourning the loss.
Real Life Tip: Don’t hesitate to put in an offer if you think you found the “almost” perfect house. While the market may seem slow-moving and sleepy to you, there are other buyers who are searching for a similar property.
Episode III – Too much to Fix on First Street
Martin McFly thought that the photos of house on First Street fit most of his “wish list.” Once inside the house, though, he couldn’t believe how much worse the house looked in “real life.” The paint, the appliances, and the flooring all needed to be addressed to suit his particular aesthetic. Six months later he still cannot find a location or floor plan that fits his needs. He can’t move forward with his search and spends his days pricing out appliances and flooring just in case he ever finds a comparable property to First Street that may need some updating.
Real Life Tip: No house will ever fit your wish list 100%. It is good to know the cost of any updates or changes that you may want to make to a property before you dismiss it as a “fixer-upper” or needing too much “work.” We have seen some beautiful transformations on many different budgets.
If you’re frustrated in your own house hunt, get in touch to see how we can help you find your Home Sweet Vermont!
It’s turning into a cruel summer for many buyers and sellers. Sellers and buyers are increasingly afraid that their house sale or purchase may be their next mistake.
Did you know that when you contact random real estate agents they are “not” working for you? While they may be friendly and accommodating, they do not have your best interest in mind. Until you sign a contract with a real estate brokerage firm you are an unrepresented buyer. While there is no requirement that you engage a professional to represent you in the purchase of a property you may get weary of not having “one” real estate agent as your fiduciary, someone to put your interests first. Here are three reasons to hire a Buyer’s Agent:
We all hear the news – inflation, fuel, food prices, and mortgage interest rates are rising or higher than before. All of these factors weigh on some buyers who are thinking about purchasing a property.
One person’s “clean” is another person’s “yuck.” In the realm of real estate there is an ambiguous phrase embedded deep in the purchase contract and it reads something like, “property to be broom clean and free of all occupants and belongings.” What about vacuuming the carpets?
Is the real estate market cooling off? No.
Grab a snack and a water and let’s go find a house! Yes, it’s almost that easy. We have relationships with local lenders and an extensive network of colleagues to assist you in your quest for a new abode. Here are some other tips to speed through your home search:
It’s easy to get mixed up when you’re bantering about real estate terms. Here’s a handy guide to follow:
Vermont is small, our population hovers around 620,000. Yes, that’s the whole state – men, women, children. We have never had a housing “boom” like other states. Demand for housing has outstripped our supply over the last few years. In certain price ranges there are perhaps 40 – 50 buyers looking at the same house.
The Weaver Team 