Buying a Home in Dallas – The Right Home at the Right Price

November 11, 2009 by · Leave a Comment 

Buying a Home in Dallas? Contact DFW Urban Realty

Buying a Home in Dallas? Contact DFW Urban Realty

Purchasing the right home at the right price can be a simple and enjoyable experience as long as you have the right tools and resources to guide you through the purchase process.  Anyone can find a real estate agent, locate a property and buy a home, but many loose sight of the most important goal in the process.  Your ultimate goal should be to secure the right property, in the right location and at the right price to ensure you’ve made a great investment.  In a buyer’s market, every home buyer should act as an investor and follow all the right steps to close on a great investment property.  As a home buyer, you are investing on one of the highest dollar transactions you will make in your lifetime.  As an investor you want to ensure when you make your next high dollar purchase, you can capitalize on your initial investment. 

1. Consider All Your Options – Distressed Properties,  Dallas Home Foreclosures, Dallas New Construction Properties, Pre Owned.  Be sure to consider multiple options and compare these options line by line before moving forward with an offer.  When choosing which property to move forward with, don’t base your decision entirely on emotion.  As a home buyer you need to be comfortable with the property you are purchasing and going to live in for the next several years.  As an investor, you need to be weary of the carry costs, maintenance fees, and upkeep of the property as well as the potential for appreciation down the line when it’s time to sell.   

2. Do Your Due Diligence – Review Sellers Disclosures, Review CMA comparing recent sold properties in the neighborhood, Review your Home Inspection Report.  Hire a respected Dallas real estate inspector to conduct a complete and thorough evaluation on the property.  Sometimes the best referral is from a family member, friend, or colleague that has recently purchase.  Some inspections you might want to explore are the General Home Inspection, Termite Inspection, Roof Inspection, HVAC Inspection, Plumbing Inspection, Electrical Inspection.  Remember, just because a property has problems doesn’t mean it is not a good investment.  If you discover potential issues, hire the appropriate contractors to give you estimates (at least 3 different estimates) and compare costs/benefits associated with your purchase.  If you can invest a minimal amount and produce a great short or long term return, you may have found the right property.

3. Negoitiate and Close – Find a good seasoned Dallas Realtor who understands local market conditions and have them negotiate the best terms and price on your investment.By following these steps on properties you are considering for purchase or investment, you should be able to filter out the potential headaches and zero in on the diamonds in the rough. 

By following these simple steps, you can make a complex home purchase, a simple and lucrative investment.  Dallas Home Buyer’s Market offers many different housing options such as Homes, Condos, Townhomes, Highrises and Urban Lofts.  All of these types of homes can be a great investment just by securing the Right Property at The Right Price!  For More Information on Buying a Home in Dallas or investing in Dallas Real Estate, contact DFW Urban Realty.

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