Picket Fence Real Estate  Diane Coyne - owner/broker
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Top Four Home Buyer Tips

Get your own buyer’s agent- IT’S FREE!!!!!!

Sellers pay the whole agent commission. As a buyer, if you do not use your own agent, the listing agent, who is already representing the seller, will likely become your agent. Doesn’t this sound like a conflict of interest to you? It should be, but it’s legal. Picket Fence Real Estate will not represent both the buyer and seller in the same transaction. Protect your interests and find an agent. It won’t cost you anything and could save you a fortune.

Figure out how much you can really afford.

Lenders will tell you how much they are able to lend you. That does not mean you can really afford that much. Lenders do not have to take into consideration any expenses you have beyond legal obligations (car payments, child support, student loans, etc.). This doesn’t include things like gym memberships, health insurance or childcare. Technically, you could stop paying for these any time. But is that realistic?

Do keep in mind you will probably be getting a bigger tax refund once you own a home. If you can itemize, other deductions may be available to you. Check with an accountant about this.

Definitely get a home inspection before you buy.

Home inspections typically run from $300 to $500. The money you spend on a home inspection may save you thousands of dollars in the long run. This is not the place to cut corners. Walking through the home with an inspector also gives you a good quick education about the systems that make up your home.

Planning to move in less than two years? It’s probably not wise to buy now.

If you cannot own and occupy a home for at least two years, you probably should not be buying a home right now. Federal tax laws provide most homeowners with a capital gains exemption on profits ($250,000 for singles/$500,000 for married couples) from the sale of a home. But the seller must have owned and occupied the home for at least two years. Check with an accountant about this.

Additionally, the cost of selling a home can run from 6% to 9% of the selling price. You should factor this into your decision.



PO Box 70178 • Seattle, WA 98127 • 206.898.8072 •  pfre@comcast.net