Buying A Home In Wyoming
Find Your Dream Home
Buying your new home is a serious venture and selecting your real estate professional is one of the most important decisions that you'll make. After all, a home is often both the largest and the most emotional investment that most people will face in their lifetime. It is helpful to do your homework, research the market and work the numbers but you don't have to know everything; your Allure Wyoming Real Estate agent is ready to help you through every step of the process.
Below are some pointers that you might find useful in the home buying process.
PRIORITIZE YOUR NEEDS:
In a market like Jackson Hole to Star Valley where inventory is often limited, it's crucial to know what is most important to you. This is the job of your Allure Wyoming agent, to help you clarify what your dream purchase looks like. Knowing what features are needed can help narrow down your home options and make the decision easier when it comes to making an offer. Start by creating a checklist of those needs and the reasons why those features are important to you and your family. Use this checklist as a guide and consider taking it with you when you go to look at houses. After seeing several houses in one day, these lists can help you to remember what you've seen and liked, or not liked.
UNDERSTAND THE MARKET:
Real estate markets change drastically and frequently. It's important to know whether it's a buyer's market or a seller's market. It's important to know which neighborhoods have excess or limited inventory. It's important to know the accurate valuations of different sized properties. The list goes on. Unless you make real estate your profession, this can seem daunting; this is where a Allure agent adds significant value. We are constantly analyzing the market trends to ensure our clients are getting the best value possible.
While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after homes that are out of your price range. With pre-approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home that you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. This can make all the difference in a competitive bidding situation. Click here to use our mortgage calculator to help estimate the loan amount, number of payments and your monthly payment for your desired home.
CHOOSING YOUR REAL ESTATE AGENT:
Choosing the right real estate agent is important; after all, you might spend the next six months working together. You want someone with the best credentials, who is trustworthy and who genuinely understands what you are looking for in a home. But how do you choose? Ultimately, you can expect your agent to guide and assist you through this home-buying adventure. He or she will help you avoid potential pitfalls, and in the end, hand you the keys to your new home. A great real estate agent will: Educate you about the current conditions of the market. Analyze what you want and what you need in your next home. Coordinate the work of other needed professionals throughout the process. Guide you to homes that fit your criteria and budget. Negotiate on your behalf to get you the best possible deal. Check and double-check paperwork and deadlines. Inform and discuss with you, and suggest solutions to solve any problems that may arise. We have qualified real estate professionals at Allure Wyoming Real Estate Brokerage who would be honored to help you in this decision. Please view our agent page or come visit us in person to find the right fit for you!
Now for the fun part: house hunting! One of our real estate professionals can arrange showings and attend open houses that are in your target area and price range. When comparing homes, make sure to look at all aspects of the properties. How old are the homes? Have they been renovated? What are the neighborhoods like? What is included in the price of each? What are the utility costs of each? How long have each of the homes been on the market?
MAKING AN OFFER:
Once you find "the one", the next step is to make an offer on the property. Typically, this is a very difficult and trying time since both parties have different goals. Some things to consider when deciding on the best price point are: List price: Start with the price point that the home is listed at. This will give you a base when looking at the home's value. Market analysis: Your agent will give you an idea of comparable home values in the neighborhood to help you decide if the price point is on par. Improvements: Your agent can give you a list of improvements made to the home to help you determine the market value. Your Allure Wyoming agent can give you information on other properties in the neighborhood to ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process.
PERFORM DUE DILIGENCE:
Your Allure Wyoming agent (with the help of a licensed home inspector) will help you identify challenges with your home and improvements that can be made; this will aid you in knowing exactly what you're getting into prior to completing the purchase. Knowing what work has and has not been done to your home is important information to have in the buying process. Your Allure Wyoming agent can help make these discussions go more smoothly. Very often a problem appears to be big but can be fixed with very little effort and not a huge budget.
You're now in the "home" stretch! Allure Wyoming has a Transaction Management team to ensure the purchasing process goes smoothly and to protect our client's best interests. You'll sign all of the appropriate paperwork, transfer funds to the seller and get the keys to your new home.