Dawna is a real pro! I am so glad she was on our team. For nearly four years she guided us through the volatility of the San Luis Obispo housing market, answering our questions from a far (we live in Montana) and flagging appropriate properties or developments along the way. When the timing was right and we found just what we were looking for, Dawna expertly guided us through the negotiations and inspections. This wasn't our first home buying experience, but we really appreciated how easy Dawna and her assistant made the whole process. We successfully closed in less than 30 days.
- Make an initial decision. Decide if it is more important to get the right property at a fair price or a good deal on a property that may not be as suitable for your situation.
- Learn about today’s market conditions and what sellers may be expecting. Ask your agent to pull comparable sales from the last three months in a radius of property address, with appropriate limits on sq. ft., size, and property features (ie. bedrooms/baths, views, etc.)
- Evaluate the resale potential. The best deals are those that work best for your personal situation, and can meet others’ needs if you ever want or need to sell or rent it out. (For example, a conventionally-sized 3-bedroom 2-bath home will have a larger pool of buyers than a 1-bedroom home)
- Determine long-term and short-term property costs. These may include expected necessary capital improvements like a new roof or driveway, property taxes, loan payments, insurance (include special coverage if applicable), reasonable maintenance and management expenses. Also determine tax benefits that can offset expenses.
- Is it reasonable? Some properties and deals are not buy-able for every buyer. If you think it’s a great price but you’re over extending yourself beyond your budget, or timing is not appropriate for your circumstances, or there are existing leases/easements on the property, then it may not be the right property for you. The right opportunity will be there when you are ready.