Successfully negotiating the best deal on your Pittsburgh home purchase is your objective, right? You want to get the best deal; the most house for your money. By following these tips provided by The Jim Dolanch Team, you will be armed with all the Pittsburgh area real estate information you need for a successful home buying experience.
Tip #1: Do your research
Look through the Pennsylvania (MLS) Multiple Listing Service for all available Pittsburgh real estate listings and listings from the surrounding area, such as: Upper St. Clair, North Strabane, Peters Township, Mount Lebanon or Canonsburg and that's just a sampling of the many areas we service. Once you find several homes you're interested in, call your Pittsburgh real estate experts. Jim Dolanch and his team will set up a showing at your convenience. You could also give the Jim Dolanch Team the criteria you want in your home and let them search for you.
Tip #2: Get pre-qualified
Complete our pre-qualification form to find out how much you are eligible to borrow. As a rule of thumb, your mortgage should not surpass 33% of your gross income. This calculation will put you in the ballpark for the amount you can afford. We can even help you assess your financial situation.
Tip #3: Buy with an eye towards home improvement
The classic rule of buying the worst house in the neighborhood still applies. You can always customize the home to fit your needs while building equity at the same time.
Tip #4: Create a list of amenities
List the most important features that you want in a home. You may need to sacrifice some of your wants if an exceptional value presents itself though. But having a wants vs. needs list will make finding your ideal Pittsburgh home much easier.
Tip #5: Find the right type of loan
The type of mortgage you get depends on several factors
- How long will you be in the home?
- 15 years or 30 years mortgage?
- How much of a down payment can you afford?
A Realtor or loan officer will help you make the decision about which is the best loan type for you. Make sure you know all the closing costs as well as the terms and conditions of the loan.
Tip #6: Make sure the contract protects you
Be sure that the contract allows you to arrange financing, inspect the home and negotiate any problems you see.
Tip #7: Compare mortgage lenders for the best deal
With so many lenders competing for your loan, there are plenty of options. Be sure to compare apples to apples though (i.e., fixed rates to fixed rates not fixed rates to variable rates.)
Tip #8: Get the home inspected
Getting the home inspected prior to purchasing it is essential. A home is your biggest purchase so don't take it lightly.
Tip #9: A home warranty buys you peace of mind
Buying a home protection plan protects homeowners against the cost of unexpected repairs on major systems and appliances. Typically the warranty covers the repair of mechanical breakdowns for one year. It's different from a homeowner's insurance policy, which covers damage caused by mechanical failure.
I Still Have Questions!
Following these tips will help you when purchasing your new home. For more information, contact Jim Dolanch at (724) 941-8680. He can answer any questions you might have and help you find your next home.
Please contact your Pittsburgh real estate specialists for more information on how we can assist you in purchasing your next Pittsburgh home.