Key Information to Provide a Realtor When Shopping for a Home

Working with a realtor as a first-time home buyer can be a great experience. Not only can a realtor Saugerties area help find one's "dream home," but for first-time buyers, a realtor often comes at no cost, since it's the home seller that usually pays the commission. Still, when working with a realtor for the first time, there's some basic information that home buyers should be prepared to provide. This will ensure that the house hunt goes as smoothly as possible.

A List of Must-Haves

Buyers should begin by providing the realtor with a list of must-haves. These are not "wants," but a list of features that the buyer needs to see in a house in order to even consider it for purchase. For many, must-haves will include a certain amount of square footage, a minimum number of bedrooms and bathrooms, and other features such as a finished basement or home office space. The smaller the must-have list, the more successful a realtor can typically be in finding viable options.

Budget Range

Of course, it's also important for a realtor to know one's specific budget when shopping for a home. Generally, it's best to get pre-approved for a mortgage before working with a realtor. When pre-approved, the bank will provide a maximum loan amount, which can then be shared with the realtor to give him or her a better idea of the budget. Of course, home buyers aren't required to look at homes at their maximum loan amount; they can choose to go lower.

Ideal Neighborhood

Most home buyers have some kind of idea of what type of neighborhood they'd like to find themselves in. Some, for example, will prefer a home that's part of a homeowner's association, whereas others want just the opposite. For buyers with children, it may also be important to find a home within a specific school district.

Type of Sales

Finally, a realtor will want to know what kinds of home sales the buyer will consider. These may include traditional bank loan sales, for-sale-by-owner options, short sales, and even foreclosures. The more sale types the buyer is open to, the more options they'll have during the search. However, it's important to note that short sales and foreclosures can take a lot longer to close, so they may not be ideal for those eager to move in as soon as possible.