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| Dave Shockley 434-242-1769 |
Charlottesville Area Real Estate
| Managing Broker Real Estate III - West Office, 500 Faulconer Dr Charlottesville, VA 22903 Mobile 434--242-1769 |
BUYING A HOME
- Buying a home is one of the most important investment
decisions you will ever make. It is best to choose a reputable
Realtor who is a member of the National Association of
Realtors (not all agents are). If you decide to go it alone,
however,you will be able to see (and maybe buy) homes that
are For Sale by Owner (FSBO). These homes are not usually
listed in the MLS (multiple Listing Service). Realtors can also
take you to view those homes however a commission made not
be paid to them by the seller if you choose to buy that home,
and most times the BUYER (you) will be asked to pay that
commission. Be sure to ask your Realtor!
Approximately 20/% of available homes are FSBO homes
(depending on area), while 80% are MLS homes. These will be
listed by an agent and you will need your own BUYER AGENT
to buy one of these. What is a Buyer Agent you may ask? Well,
remember the listing agent (the agent who lists the home for
sale)owes their allegiance to the SELLER while the BUYER
AGENT (your agent) owes allegiance to THE BUYER (you!).
Always have your own Buyer Agent to represent you and get
the best possible deal for you. The seller pays the commission
for the buyer agent in most circumstances so having this
protection costs you nothing. Occasionally the buyer may be
asked to pay the commission however this is very infrequent
and you will be told up front. Remember, the Buyer Agent
(your agent) works exclusively for you.
Once the decision to buy a home is made, take time to prepare
before setting out to buy a home.
Before you start:
- Get your finances in order, - this is so important and will
save a tremendous amount of time later on.
- Determine your budget. Don't spend yourself into being
"house poor."
- Get familiar with the different areas you are considering
and this will narrow your search.
- Take note of any items you don't want in a house as well
as the items you desire to have.
- Determine the desired location (schools, shops, work,
public transportation, etc) - Familiarise your self with the contract process
- When looking at different types of homes, it is always
good idea to write your ideas down and then complete
lists of advantages and disadvantages. This can often
makes the choice easier.
Types of Homes:
could include single family, town houses and condominiums.
Single Family Homes:
Advantages to a single family home could include - your space
is your own, resale value is generally the highest, it's possible
to extend if you need more room, and generally there are no
property management fees to include.
Disadvantages include - all maintenance and repair costs are
yours, you are responsible for the up-keep of landscaping, and
most single family homes are more expensive than either town
homes or condominiums.
Townhouses
can often be maintenance free and provide "middle ground"
between a single family home and a condo. Advantages may
include - may have more security than a single family home,
may have access to amenities such as a pool or clubhouse, and
they may have the exterior maintenance taken care of.
Disadvantages may include - being responsible for
homeowners fees, give up some privacy as compared to a
single family home, and your options for changing the exterior
paint color or putting up a fence may be limited.
Condos:
A condo is really "an apartment that you own," Your
ownership extends inwards from your exterior walls, floors
and ceilings. You are usually a "partner" with other owners in
the ownership of the exterior structure as well as common
areas.
Advantages may include - no individual responsibility for the
exterior maintain ace, access to amenities such as a pool etc,
condos do tend to be located nearer to shopping and town
centers, and condos can often be more affordable.
Disadvantages may include - being responsible for a monthly
condo fee, giving up more privacy than in a single family home,
only owning from the wall inwards, and when it is time to sell
it may take longer than a single home. I find it is always a good
idea to write down the advantages and disadvantages for each
of your choices. This helps you remember the homes and often
makes the choice easier and clearer.
And call a GOOD REALTOR!
OR TWO !! Thats Us!
As always if you have any questions or comments please feel
free to get in touch with us - anytime. We are here to help.
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