1. Research the local area.
Do as much research as possible, then do some more. Knowing your surroundings is key when it comes to making an informed purchase. Take your time, speak to experts about price trends. Talk to real estate agents and your mortgage lender to get a feel of the area to understand how properties are valued.
2. Consider what you can afford
Speak to a lender! Mortgage brokers will give you advice on how to increase your purchasing power. Know what you can afford before starting your search and that will save you time and stress down the road. Keep in mind that knowing what NOT to do is just as important as knowing what to do. Seek out expert guidance.
3. View the property multiple times
Found your dream property? Great! Go check out the property in different weather conditions. Especially if it is close to water.
Call your real estate agent, get out on that rainy day, check out the property in adverse weather conditions to make sure you like what you see.
4. Get a real estate agent
Get an expert. Real estate agents can pull comparables, show market trends, and help guide you through the contracts. Real estate agents have tools at their disposal to help you navigate a multitude of situations.
5. Get to know the neighbors
Introduce yourself, be a helping hand, have a friendly face… the best thing you can be and have is a good neighbor. They will let you know the feel of the neighborhood, any challenges the neighborhood is facing and can be a great source of advice.