When it comes to skills, even homebuyers need them. Wise house hunting and smart real estate choices are required skill sets that today’s homebuyers need. Today, you still need the skill sets that you needed 15 or 20 years ago; however, while that list has gotten a bit shorter thanks to technology, there are skills you still need.
Skills today’s homebuyer’s need:
Math skills – You need to understand math before you can control your spending activities. Homebuyers usually know what they can afford, but many homebuyers still think they can squeeze in a little extra. To really know what you can afford in a home, sit down with your significant other and go over your income, your bills and your banking information. You can even use a CPA if needed.
Your goal here is to get a clear picture of what you have coming in versus what you have going out. Each month you will need to afford the additional cost of the mortgage, the property insurance and the property taxes. Getting smart about what you can afford will help you keep your home in any real estate economy.
Self-control skills – Many homebuyers jump the gun and try to buy a home after only looking at a few properties. Instead of hopping right into something, you may consider looking at several properties in different price ranges. You may even need to consider a compromise in order to afford a comfortable mortgage payment. Use your control and pace yourself when searching for a home.
Discernment skills – Use this skill to choose a wise area that has the noise level you are looking for. If you have a vision for your life that is noise free, you may consider using discernment skills to help you buy a home in an area that is in your best interest. Exercise your skills against noise, panic, paralysis, over spending, fear, over confidence and more.
Listening skills – Be sure to relay the right message to your real estate agent. Most conflicts with buyers and Realtors® are because of miscommunication. If you want a home with four bedrooms, let your agent know that you only want to look at single family homes with four bedrooms. Also, let them know what your budget is. You don’t want them showing you single family homes with 4 bedrooms between $160,000 and $220,000 if you can afford $320,000 to $400,000 and vise versa. Area is also very important to know.