15 Rules of Successful Home Buyers

House for sale

Let’s face it, the residential real estate market is extremely competitive. In recent years we’ve seen sellers receive multiple offers on their property and buyers missing out on opportunities. The market is tipping the scale towards sellers because of the single-family housing inventory shortage.

With low housing inventory and new buyers entering the market every day, it’s crucial to have a road map of what to do (and what not to do!).

We’ve seen time and time again that there are simple steps that buyers can follow to initiate and maintain a successful real estate transaction.

Whether you’re a first time home buyer or you’ve been to the rodeo before there are 15 rules that you need to know.

In today’s blog post, you will learn:

  • The 5 commitments that ALL home buyers must make

  • 5 crucial keys for first time home buyers

  • 5 important steps to achieve success in getting the house you want

5 Commitments for ALL Home Buyers

  1. Get Pre-Approved: Submit a mortgage pre-approval letter with your offer.

  2. Find a true advocate – your real estate agent should be your biggest supporter.

  3. Create a housing plan before you start looking (and actually follow it).

  4. Visit the neighborhoods you’re considering – we can’t stress this enough!

  5. Get a home inspection – knowing the condition of the property is CRUCIAL.

5 Keys for First Time Home Buyers

  1. Get Educated: Take a home buyer education course.

  2. Gain knowledge of the home buying process.

  3. Understand how your credit score impacts your buying options.

  4. Find out if you qualify for down payment assistance – this could save you thousands of dollars.

  5. Know the costs of buying a home - be financially ready – don’t get caught off guard by closing costs!

5 Steps to Get the House You Want

  1. Focus on your list of criteria but be flexible – no house is going to be perfect.

  2. Respond in a timely manner – if you want the house you must take action!

  3. Make your first offer your best.

  4. Don’t be afraid to negotiate with the seller.

  5. Write and submit a love letter with your offer – what you love about the seller’s house, why you want to live there, etc.

These are just some of the steps we teach home buyers. If you’re getting ready to buy a home or are interested in learning more about buying a home, then we’d like to guide you through your journey. Sign up for our free home buying program http://www.LandlordBreakup.com/Join.

Wanauma Graham is a Texas Real Estate Agent and Home Expert for Landlord Breakup, a program which seeks to motivate, encourage, and support renters who want to become homeowners. Learn more at LandlordBreakup.com.

About Landlord Breakup Landlord Breakup is the renter’s path to home ownership. LBU helps renters prepare for home buying, takes them through the entire home buying process, and offers exclusive homeowner services after closing.

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