Too Scared To Buy A Home In Ascension Parish

There are 5 top fears that home buyers have when buying a home that can cripple them from even making a home purchase at all. I will cover some of the biggest fears that home buyers face and show you how to overcome those home purchasing fears so you won’t be too scared to buy a home. These are the top Five Home Buying Fears we will cover:

Fear Of Value Loss

If you saw the collapsing home values of 2007-2009 you saw many families and homes that go into foreclosure making homes in neighborhoods plummet as fast as they went up in value, in some areas it went lower than the boom and took years to recover, so the fear of losing value in your home is real.

So how do you combat this fear, When working with clients that have this fear I ask them to pick a home they like in their budget, this doesn’t have to be the exact home they are  purchasing just one can use as an example, and I make a full report showing them the properties value since the big housing crisis of 2007 where the home value dipped and what the home value is now, In our area of Baton Rouge it’s clear to see that anyone who bought a home during that time and was able to hold on to it since then has gained a significant amount of money and this hold true for many other areas around the country.

You can ask your real estate professional for reports like these on any home you are interested in so you know you are making a smart financial decision.

➡️The 5 Home Buying Fears Covered In The Video Time Stamps

➡️Fear Of Value Loss0:52

➡️Fear Of Buying a Money Suck2:51

➡️Fear of Buying When You Could Get a Better Deal5:01

➡️Fear Of Mortgages & Mortgage Payments- 6:28

➡️Fear of Buying Won’t Be As Safe As Renting- 7:52

Fear Of Buying a Money Suck

Some people see shows on HGTV of buying a great foreclosure or auction home and flipping into a home o6f their dreams but that’s after the investors sunk into a whole lot of money with unforeseen issues prior to purchasing the home. Getting a great deal on a home usually means you will be purchasing a fixer-upper in one-way shape or form. Whether it’s just some new paint and carpet or adding a new roof and fixing foundation issues.

If you are thinking of purchasing a home like this but are scared of the costs there are few things you must do prior to signing on the dotted line,

1. Make sure you have at least a 10 day inspection period so you will have enough time for the next two things I am going to tell you will need to do.

2. Hire an inspector to go through the home with a fine tooth comb have them review the report with you at the property so you can see for yourself the issues they found,

3. Find a couple of very good general contractors with lots of reviews and previous customers and have them meet you at the property to give you an estimate of the cost of repairs. ( Don’t go cheap with your contractor sometimes cheap contractors equals cheap looking work)

h4. once you have your bids in hand estimate an extra 10% for unforeseen issues or problems that might pop up.)

Fear of Buying When You Could Get a Better Deal-

This is one that has crippled some buyers. Years ago I worked with a couple who would go from house to house putting in purchase agreements well below asking price hoping that the sellers would take their offer.  8 months and 14 purchase offers later they got stuck in a situation that forced them to buy a brand new home they weren’t really happy with but since their rental lease was up and the landlord was unwilling to extend there lease they had to buy “something” all the other homes they had lowballed were long gone.

I know everyone wants a deal, this is a great time to really have deep conversations with your real estate agent about the homes comparable value to others in the neighborhood. If the market is super hot you are most likely not going to be getting a lowball offer accepted but if you are in a market that sellers are willing to negotiate that it doesn’t hurt to test the waters. When you make an offer that’s below market value write in the offer how you came up with the sales price for the house, explain in great detail why you feel its worth that amount and not what the asking price is. I have used this to get offers accepted by sellers in the past even including repair estimates from companies to support the offer.

Fear Of Mortgages & Mortgage Payments-

Everyone has heard horror stories of people getting in way over there head and bought home that made them “house poor” where the homeowners could purchase the house and not much more than make house payments, or you may have heard about a mortgage package that could have saved you on making a large down payment after they have already purchased a home. Before you have mortgage remorse be sure to meet with several mortgage lenders and discuss all the loan packages that will fit not only for your best interest rates but also your monthly budget as well, make sure you factor in regular maintenance costs of your future home also renewals on termite contracts, HOA fees and extensions to home warranties if you chose to.

Fear of Buying won’t be as safe as renting-

Every housing market is different when it comes to the cost of renting in comparison to owning. Buying wins hands down here in Ascension Parish. Currently, you can buy a 3 bedroom 2 bathroom, 1300 square ft home for about $180,000 that’s less than 10 years old.

Mortgage Monthly cost maximum loan Mortgage amount

180,000$ Interest rate (%) 4.5 ,Mortgage period 30 (years)

Monthly payments

$912, taxes 900 a year, and insurance is about 800 a year= estimated at $1054.00

Now for comparison you take that house you would pay $1350 a month in rent, never gain equity over the years and your rent always goes up as a mortgage payment always stays the same.

🔴If you’d like some more tips on buying your next home check out my buying a home playlist here. https://bit.ly/2sw5Pu1

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🏡To look for properties in the Baton Rouge and Ascension Parish area click here: https://goo.gl/Pfi9W9

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CONTACT INFO: kristina.smallhorn@exprealty.com,info@yourrealestatewhisperer.com eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817 225-246-1812,Office (225) 412-9982 ext# 149 Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License #0912122918

Home Buying Walk-Thru Checklist (With Free PDF)

The walk-thru stage of home buying, The final walkthrough isn’t just to check if the sellers have removed all items from the home or check the condition. When a buyer does a walk-thru of the home they are buying, prior to closing, they may see some things they were not expecting, So its good to be prepared. In this video: I will be showing the perfect walkthrough checklist so you don’t forget anything by the time the sellers have handed over the keys and cover those things most people don’t even think about when they walk around one last time. Below the video, I will have a checklist PDF that you can download for free to take with you the day you do your walk-thru.

Get Your Free Home Buyers Walk-Thru Checklist Here      

 

Looking For Another Useful Article: “What Are The Most Common Final Walk-Through Issues In Real Estate? 

Kristina Smallhorn (Your Real Estate Whisperer)

Cell 225-246-1812

EXP REALTY, LLC

2900 Westfork Dr.

Baton Rouge, LA 70827

225-412-9982 ext 149

Info@YourRealEstateWhisperer.com

yourrealestatewhisperer.com

kristina.smallhorn@exprealty.com

Kristina Is a Licensed Realtor® with The Greater Baton Rouge Board of Realtors@ in the State of Louisiana. License #0912122918

 

Home Buying Detective

It’s Take A Tip Tuesday! Do you know how to be a home buying detective? I have told you in previous videos that are ways for a home buyer to do their own due diligence when buying a home. But what does that really mean to you as a buyer buying a home in an area that you have had your eye on? In this video, I will be showing you how to be a home buying detective and find out all the things you need to know before you sign a purchase contract when buying a home.

🕵🏽‍♂️Look at the tax records online! This is a great way to know how much the sellers purchased the home for. In Ascension Parish, you can even see how much they financed the house for. How is this helpful to you? If you know that they want $250,000 for there home and they only purchased they home 3 years earlier for $180,000 you know they have wiggle room to negotiate for less than the asking price. Knowledge is POWER!

🕵🏽‍♂️Check the local sheriff’s website: A quick Google search and a few keystrokes away from knowing if there are any predators that live close by to the home you’re researching. Even if this isn’t a personal concern for you for many it is and one day you’ll want to sell the home you are thinking of buying and the next buyers may find this to be a very big issue causing your home to stay on the market for longer than you are expecting.

🕵🏽‍♂️Call your local homeowner’s insurance company and ask for a CLUE report? Whats a CLUE report? This is a report that can tell a potential buyer how many insurance claims were made on the property for the past 5 years, the dates those claims were made, The type of loss, how much was paid to settle the claim or if the claim was denied this information can be extremely helpful in discovering hidden problems, before you sign on the dotted line

🕵🏽‍♂️Ask The Sellers some Great Questions: I know that I have said in a past video what things a seller should keep tight-lipped about but no everyone is going to take my advice so ask them. “Why are you moving?” “What’s your bottom line?” “How quickly are you looking to move?” “How do you like your neighbors?” “Do you have any crimes or break-ins in the neighborhood” “Do you have receipts of all the repairs you have made in the past?”
Loose lips sink ships as one customer told me in the past. The home sellers answers could be a great way for you to feel out how stuck they are in their price and how quickly they are ready to fly the coupe.

🕵🏽‍♂️Go to the home at peak hours: To really investigate a neighborhood and your possible future neighbors go to the house during the times when people are leaving and coming home from work. Is there a bunch of cars parked on the road blocking the streets up? Also, drive around and check the yards, Are they maintained? You’re not buying just this house you are also buying the neighborhood as well.

🕵🏽‍♂️BONUS TIP!!! I have said it before but bears repeating again, Talk with the neighbors!! You will be surprised at the great tidbits of information they will give you about the home you are t

👀If you’d like to watch more videos 📹about buying a home🏡, here is a very useful playlist: https://bit.ly/2wkl3n3https://bit.ly/2wkl3n3

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🏡To search for homes in the Baton Rouge and Ascension Parish Area:
https://bit.ly/2OdQw1s

📨If you have any questions about buying and selling your home feel free to reach out to me at any time by email or any respectable time by phone📱. All my contact information is listed below.

#Realtor #homebuying #tips

My name is Kristina Smallhorn, Your Real Estate Whisperer and I tell you all this “Because YOU Matter”

 

Cell 225-246-1812
EXP Realty, LLC
2900 Westfork Dr.
Baton Rouge, LA 70827
225-412-9982 ext 149
info@YourRealEstateWhisperer.com, kristina.smallhorn@exprealty.com
yourrealestatewhisperer.com
#realtor #homebuying #tips
Kristina Is a Licensed Realtor® with The Greater Baton Rouge Board of Realtors@ in the State of Louisiana. License #0912122918