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If you have any questions or need more detailed information, please feel free to contact me via phone at 301.613.7253 or fill out the form to let us know how we can help with your real estate needs.

Office Location 795 Rockville Pike,
Rockville, MD 20852
Phone: (301) 613-7253
Fax: (301) 424-9290

Preparing to Shop for a Home – Make Lists!

In certain markets, there could be a plethora of homes on the market.  Usually, this indicates a buyer’s market if the number of qualified buyers is less than the number of homes for sale.  Although this seems like an ideal situation, if you aren’t sure what you want, it could really make the process a lot longer than it needs to.

At first, don’t worry about what features may or may not be out of your price range if they seem reasonable.  If you are only pre-approved for a $200,000 loan though, don’t list a 5,000 square foot house in Washington DC as part of your needs.  This may be an unreasonable expectation.

Make sure you differentiate between your needs and your wants.  If you have a large family your needs would obviously include a larger home with more bedrooms.  However, if your desire is to live closer to the city and it is just you and a significant other, a smaller upscale home may do for you.  Try to think through your lifestyle and what conveniences you cannot live without.

Secondly, come up with a list of wants.  These are things that you desire, but are not deal killers if you don’t get them in your home.  This will better help you sort out the value of homes you are looking at and help you narrow your search a bit more.  These items can range from fireplace on the main level to extra storage space above the garage. 

Sometimes the lines between needs and wants can become blurry, but having a basic idea of these things will help you find your new home without as much searching and help to eliminate seeing homes that your really won’t be interested in.

More articles:

  • Investing in real estate
  • Why be pre-approved? (Prequalification vs. Pre-approved)
  • How does the settlement process work?
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