February 9, 2024
Who we are
Susie Chow is Tomo’s lead writer based in Atlanta, Georgia. We present our first-ever Tomo’s Guide to Home Buying, broken into five sections, as a tool for all homeowners. Susie is also a contributing writer for Eater Atlanta, and has written for global brands, Shangri-La Hotels & Resorts, Airbnb, Uber, and many more.
In This Section: Tomo’s House Hunting Checklist
- How to find a house. Needs vs. wants
- Assessing the market: setting realistic expectations
- Partnering with the right real estate agent
- What to look for when touring a house
The thrill of searching for a new home is an adventure filled with anticipation and excitement. It’s a journey where every property visit holds the promise of discovering the perfect place to build a future, create memories, and find comfort. In Part 3 of Tomo’s Guide to Home Buying, we’ll dive into some essential factors to consider and things to look for when buying a house that will make the experience more successful and stress free.
How to Find a House: Needs vs. Wants
Establishing your home criteria with a clear list of “wants” and “needs” is a strategic move that sets the tone for a more focused and successful search. It’s a practice that not only maintains equilibrium in your decision-making but also guards against the allure of non-essential features that could lead to regrettable choices (read: overpaying). This methodical approach is not just about checking boxes; it’s a reflection of your lifestyle priorities and a roadmap to finding a home that truly aligns with your life’s goals. It encourages buyers to look beyond the surface, considering the long-term implications of their choices on daily living and overall happiness.
Assessing the Market: Setting Realistic Expectations
Understanding the real estate market is key to pinpointing a home that meets your requirements, making it imperative to invest time in analyzing active listings and recent sales data in order to validate or adjust your search parameters. Use data to set realistic expectations. Understanding what homes are selling for and how fast they are selling in the areas in which you want to buy is important in order to ensure you’re investing your home-search time wisely. Recent sales prices in and around where you’re buying will help determine whether you can afford your desired location or need to consider other cities, towns or even neighborhoods. Understanding how fast properties are selling can help explain why homes are selling for certain prices, but also how quickly you’re going to need to act when you find a home you want to put an offer on.
Tomo’s Tip: If the homes you are looking at are too expensive, consider expanding your search even just a little. Sometimes, homes just a few streets away or the town over can be priced quite differently. Find listings here in neighborhoods you are considering.
Partnering with the Right Real Estate Agent
Finding a good, reputable, and experienced real estate agent is key. Cast your net wide by seeking recommendations from trusted family and friends. An experienced mortgage company like Tomo can also bring a wealth of guidance and recommendations regarding real estate agents. Remember, interviewing potential agents is a prudent step in the process in order to assess their expertise, communication style, and compatibility with your unique requirements; which can ultimately increase the likelihood of finding your dream home.
Tomo’s Tip: Look for local experience and expertise. Utilize recommendations from friends and do your research – read reviews. The most important being a real estate agent has the buyer’s best interests in mind. Partnering with the right real estate agent can make all the difference.
What to Look for When Touring a House
Congratulations on reaching the most fun part of the home buying process! Here are some important considerations to keep in mind when touring a house:
- Easy Changes: Don’t be put off by dated décor or outdated fixtures. These are relatively simple and inexpensive to update.
- Difficult Changes: Pay close attention to the overall layout, bedroom and bathroom locations, kitchen size, and dining spaces. These are costly and challenging to alter.
- Ambient Noise: Assess the noise levels and inquire about nearby noise sources like airports or major roads.
- Home Condition: Check for wall cracks, watermarks, and the condition of floors and major appliances. These can significantly impact your budget.
- Questions to Ask When Touring a House: Inquire about the age of the home, any necessary repairs, the condition of the roof, and the types of heating and cooling systems. Ask to see the current owner’s utility bills and about any HOA fees.
In the world of real estate, while we all follow the same path, everyone’s journey is unique. From defining your realistic wants and needs to knowing what to look for when touring a home — each step is crucial in making a well-informed and prudent decision. Home buying can be a complex and sometimes bumpy road, but remember, Tomo is here to guide you every step of the way.
What’s Next?
Part 4: Offers & Bidding on a House
- Tips for successful house bidding
- Crafting your offer letter
- What happens next?
- Bidding on a house. Key tips and considerations
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