Austin Area Homes for Sale

Home Buying Advice


1.    Buying the right home is normally the most important financial decision you can make at any given time. There are many factors to look at when making this decision. Most people begin their search online. Once you get a general feel for the local real estate market, it is important to really look at and touch many homes. I suggest you have your agent show you no less than 20 homes before making an offer. Very often the REALTOR who listed a home for sale, did not take the best photos of the property. When you think about it, what you like or dislike on line is really a product of the photography skills of the listing agent. Often my clients end up buying a home they did not expect to like based on their web home search. Bottom line, you should see enough homes to know when you walk in the door of the right home, that this is the home for you, and never wonder, “what if I looked a little longer.”


2.    Financing is another important step. After the fall of many large mortgage companies in 2008, it can be confusing who to trust with your home mortgage. The best thing you can do is have your REALTOR give you three lenders to visit with. Ask each lender to give you a Good Faith Estimate and a pre approval letter for a home in your price range. Your REALTOR will be able to answer any questions on the Good Faith Estimate and help you get the best deal. One big mistake home buyers make is having a lender refer them to a REALTOR. The REALTORs who are referred, always have to pay a kick back or a referral fee. The problem is the good REALTOR do not need to do business this way and you often end up the inexperienced REALTORs who pay the highest referral fee to the lenders.


3.    Selecting a REALTOR may be one of your biggest decisions in the home buying process. I suggest you talk to your friends and ask for referrals. Often they will even tell you which companies to stay away from.  Make sure the REALTOR you choose is experienced in the area of town you are looking in. Make sure the REALTOR you choose understands the property you want to buy. If you want to buy a Central Austin condo, an agent who specializes in suburban homes may not be your best choice. Ask your REALTOR about the commission split they have with their broker. A good REALTOR should never pay more than 20% of the commission to their broker. Asking about commission splits is a good way to determine if a REALTOR is inexperienced. Make sure the REALTOR works for a company large enough for them to have someone for back up. When the perfect home goes on the market, you don’t want to lose it because your REALTOR was on vacation. Make sure the REALTOR has been in business at least two years and is good enough at their job to do it full time.


4.    Don’t over limit your options. Many people think they need four bedrooms when a three bedroom home with a study would work. If you look at only four bedroom homes, you may miss the perfect home. This can also happen when you limit a search with square footage. Often a well designed 2500 sqft home feels larger than a poorly designed 3000 sqft home. Again by over limiting, you can miss the perfect home.  The same is true of area. If North Austin will work for you, do not rule out Pflugerville, Round Rock or Cedar Park.


5.    Finally when you find the perfect home, have your REALTOR write an offer. Don’t wait! In today’s Austin market the best priced homes sell fast. If you have been inside no less than 20 homes, have your mortgage set up, and you have a good REALTOR who assisted you in the process, WRITE THE OFFER! Don’t lose the home of your dreams!

John Mick