Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]Some Highlights Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
7 Super Habits Of Successful New Jersey Home Buyers
Whether or not you comb the self-help sections of bookstores, you’ve probably heard of Stephen R. Covey’s bestseller, “The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change”. (25 million copies and 1.5 million audiobooks sold....kind of a big deal!) Covey distilled 25 years of business, family and educational experience into a list of the top seven practices common to the most successful people in their fields. Here, we apply those seven habits to the New Jersey home buying process. Read on to edge out the competition and step closer to successfully purchasing your new home!
Habit #1 – Be Proactive
Get your bank loan pre-approved NOW! Why? This puts you in the driver’s seat for the entire home-buying process. You’ll know right from the start what you can and can’t afford, which then drives your house-hunting and decision-making processes.
Habit #2 – Begin With The End In Mind
Make a list of what you want and what you need BEFORE beginning your New Jersey new home search. This isn’t to say you can’t revise your list throughout your home buying process-- -oftentimes something a home buyer begins thinking of as a need turns out to actually be more of a want. Clearly envisioning your desired end goal helps you lead an effective search.
Habit #3 – Real Estate Reality Check
You’ve determined your budget and identified your new home wants and needs. Now you need a realistic idea of what’s available for you in the New Jersey real estate market. Go to teamnestbuilder.com to search our vast array of Morris and Sussex County homes for sale, filtering your search by price, needs, wants and location. Start visiting open houses and driving through desired neighborhoods. This reality check sets you up for a successful new home search by tempering your expectations.
Habit #4 – Think Win-Win: Aim High But Be Flexible
Many buyers have an idea in their head of “The One Home” that checks all their requirements AND comes in way under budget. In the end, the majority of these buyers find there’s no such thing. What you SHOULD search for is a home that gives you optimum long-term benefits and satisfaction for your investment-- a real “Win-Win” property. Win-Win thinking says, for example: “Ok, I wanted a house that was move-in ready, but here’s a decent house in a good area which will become a great house with some renovation, and I’ll still come in under budget.” Or, “I may end up spending a fraction more than I had originally planned, but this house checks all the boxes AND provides growing space.” Be flexible and you’ll find your Win-Win!
Habit #5 – Seek First To Understand, Then To Be Understood
According to Covey, when we try to bring a solution without first understanding the problem, we set ourselves up to be ineffective. And you don’t want that. Therefore, when it comes to solving your problem of needing a new home, you should understand the home-buying process. This is not to say YOU have to train to be a real estate agent (that’s what Team Nest Builder’s here for!) but buying a home is one of the biggest investments a person can make. Consequently, if you have a question about anything from paperwork to repayments to closing dates to mortgages, just ask Team Nest Builder!
Habit #6 – Synergize: Empower Yourself with the Right Team
There are those who have more experience than us in any given area. Rather than re- invent the wheel for ourselves, we can benefit from the learning and experience of others. Making use of an expert real estate team such as Team Nest Builder pays for itself in many important ways-- time-wise, financially and headache-wise, to name a few!
Habit #7 – Sharpen The Saw: Learn From Your Home-Buying Experience
Every first-time home buyer relates to the rush of making their first home purchase. Going through the process can involve ups and downs, but when you reach your goal, wow! No matter the process, you learn and grow from the entire experience. You come out on the other side with broader shoulders and more life experience. Soak up knowledge throughout this process, and your next home buying experience can exceed your first!
Get In The Habit
Additional Sources: Xavier De Buc, Bill Gassett, maxrealestateexposure.com
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