It is no wonder that East Grand Rapids was voted “best city to live” in Michigan by 24/7 Wall Street. With its rural feel complemented by its access to urban amenities, residents of this neighborhood get the best of both worlds. The award-winning schools, delightful gaslight village, and excellent parks and nature areas are only part of the community’s allure. The local housing market is a competitive one, so here are some ways to give you an edge when buying a home in East Grand Rapids.
Set yourself apart
When you find a property that meets your needs and fits your budget, you should be prepared to act quickly. When you find a property you love, make an offer as soon as you get pre-approved for a mortgage. Being flexible and open-minded when choosing a home makes it easier to find a property that meets most of your needs and fits within your budget. You may have to compromise on certain aspects, but it could help you find your dream home in East Grand Rapids.
Getting pre-approved is essential if you're shopping in a competitive housing market or purchasing your first home. Offers aren't just about the highest price for sellers. It's also crucial for them to look for proposals that will stay strong. The preapproval tells sellers they can get financed for the amount they have offered.
Make a good offer
Researching the current market and the property itself is essential to making the best offer on a new home. Consider any unique features or upgrades that could affect the value of the home you are considering by looking at similar homes in the area. After understanding the market and the property, it's time to make an offer.
Being assertive and confident in your proposal is essential. Your real estate agent can help you in this process and ensure your offer is competitive and fair. Making an offer on a home is just the beginning of a long process. Negotiating with the seller and working together to reach a compromise that works for both of you is crucial. A home at a reasonable price can be found with patience and persistence.
An offer for a new home may accompany a personal meeting with the seller. A positive negotiating environment can be created by creating trust. Getting to know the seller's motivations for selling, as well as sharing a little bit about yourself, can help you develop mutual respect and understanding.
Offer to pay closing costs
Find an expert real estate agent
Put down 20% only if it makes sense
Check out available loans and homebuyer assistance programs
First-time homeowners can apply for a MI 10K DPA Loan and borrow up to $10,000. A required housing education class is attached to this loan, but the return on investment is high. Some programs help you with a down payment or get a better interest rate on your loan. Bankrate has developed a guide to help first-time home buyers to connect with the right program.