REAL ESTATE : Relocation Tips by Coldwell Banker
What Homebuyers Wish They Would Have Known P
The top five topics to discuss with your Realtor before you make a big move
ractice makes perfect. This saying has been around for a long time and holds true for many things in life, and purchasing a home is no different. With each real estate transaction you begin to discover more about your preferences, what to expect and what you might do differently the next time around. “By understanding what buyers wish they would have done differently with their recent home
purchase, real estate professionals can do a better job of guiding their clients to reach their desired results,” explains Jo Lay, Director of Relocation Services at Coldwell Banker Residential Brokerage. A recent survey* asked new homeowners what they would do differently if they could have a “do-over” with their home purchase – these were the top 5 things.
1. Have a better understanding of their mortgage and financing options. 90% said they believed they understood their options at the time of the purchase, but in hindsight they should have understood the entire process more thoroughly.
2. Reevaluate the size of their new home. Many in the survey suggested they would buy either a larger or smaller home if given the chance. Sometimes people don’t realize how much “stuff” they have until they move.
3. Purchase a home at a different price point. 39% of the homebuyers said they would likely purchase a home at a different price. Lay recommends working closely with a financial advisor and coming to the table prepared with a set budget.
4. Be more realistic about timing. About 40% of the homebuyers believed it would take less time than it did to go through the entire process, from looking at potential homes to going through the closing process.
5. Get clear about the costs of maintenance and moving. 80% believed their new home was move-in ready, but quickly realized that repairs or renovations were needed. “Work with your Realtor from the start to factor in renovation costs into the total budget,” says Lay.
Your Realtor is there to help you make the best decision possible, so don’t be afraid to address these topics.
*In an online survey conducted by Chase Bank from March 10-March 17, 2014, 807 home buyers were asked about their recent purchase.
Editor’s note: Jo Lay, Director of Relocation Services at Coldwell Banker Residential Brokerage. For informa- tion on Coldwell Banker’s unique relocation services call 800-688-4518. For information on Coldwell Banker’s flexible nationwide mortgage programs call 877-785-7578.
62 Windy City Guide ◆ October - December 2014
www.windycityguide.com
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