Detroit Real Estate

My advice to any Metro Detroit first time home buyer is to never buy the first home you see.  PLEASE, PLEASE DON'T BE IMPULSIVE.  This one of the most expensive purchases you will make in your life.  Take your time, do a little research, and make decision based on the information available to you.  Don't be afraid of asking questions. 

Here is a recent story that I experienced.  I have a young couple I am working with.  The first night we saw a house and they wanted to buy it.    Since then I have seen three houses with them on three different nights.  After each showing they were head over heals ready to buy that house.  Three houses... three "I gotta to buy".

Some Michigan real estate agents would have sold them the first house.  Now would it be wrong to let them buy what they want.  Not really.... no more than letting a person get a mortgage that you know they can't afford.  We as professionals in the industry sometimes have to step back and not think about the immediate pay check and think more about the client and their future.

I know the young kids are Metro Detroit first time homebuyers, they have no parents guiding them, and I know there are better houses out there.  I want them to make an educated decision.  I want them to get a good house at a fair price in an area that the home will appreciate in.

Sure it would have been an easy sale to just let them buy the first house.  But it needed a lot of work and it was overpriced for the condition it was in.  They gave me a list of 3 or 4 possibles and now we have seen them all.  Now they are taking their time and talking about the pros and cons of each home.  Whether it is the first house or the 3 house now they are at least taking into account:

• cost of repairs
• list price versus recent sold prices
• how much money they have to do repairs
• possible appreciation of the home
• long term prospects of the city

So my advice to any Michigan first time home buyer is:

•  to not to buy the first home they see
• to weigh a few options - look at a few different homes
• to figure out what repair costs are
• not to be pressured into buying the first house you see by a real estate agent

Yes there are a few real estate agents that would sell you that first house that you go ga-ga over.  Yes there are a few agents that won't care that you are inexperienced and don't know what you are doing yet.  They just want to make a sale and make money.  So even though you are new you need to take your time and make an educated decision and PLEASE DON'T BE IMPULSIVE

Metro Detroit MI home buyer tips

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Don't be afraid of asking questions when buying a home

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