Las Vegas is a city in high demand. In fact, it’s in the top 30 hottest real estate markets in the U.S. As a first time home buyer, that idea might excite you or make you feel discouraged. With growing popularity, that means there’s a bit more competition. However, if you are well prepared, you can win your dream home in Vegas. Use our guide below to be the buyer with the most savvy.
1. Green Goes First
Because the market moves fast, you’ll need to know what price range you qualify for. There’s nothing more disappointing than finding a home you love only to find out it’s out of the budget. We recommend getting prequalified at the beginning of your search.
(Here’s a Homie Hint: Check out Homie Loans™*.)
Prequalification takes a quick look at your financial situation and gives you an idea of what you can afford to pay on a mortgage without breaking the bank. On top of feeling informed and prepared, you should know that prequalification looks good to sellers. If you can give a form of proof that you can actually afford a home, a seller is likely to lean toward you if it comes down to you and someone who is not prequalified.
2. Location, Location, … Anyone? Anyone?
You know the old saying, right? It’s all about the location. You need to decide what location is ideal for you or you and your fam. There are ‘burbs in Vegas that are a bit farther away from the city life if that’s what you’re into. If you’re more of a city dweller like Ferris on his day off, you’ll want to think about the commute.
Consider how your situation will change as the years go by. Are you going to dig a short drive to the city in five years? What about 10? Or would you prefer to be farther away from the noise and have access to all the beautiful trails and walkways that some desirable neighborhoods provide? There are plenty of options for people with a variety of preferences.
3. Know Your Needs
Are you a condo person or a home person?
Condos are a popular option for people who want closer proximity to the city and want little yard and home maintenance to do.
Homes are ideal for families and those who want more control of their home’s aesthetic. (Though you’ll want to ensure the communities you’re considering don’t have covenants that prevent you from making all the outdoor changes you want.)
While you may think there’s not a chance in the desert to find a home with a green yard, think again. There are plenty of options for yards with grass or grass-like replacements available. On the flip side, there are tons of homes with xeriscaped yards to help you save on the water bill and save the planet. Two for one.
There’s a lot to consider when it comes to the type of home and what it offers. We’ve said it once and we’ll say it again, think about the future as you consider homes. Is this your 10 year plan home or your three year plan? You’re going to live in your home for a while, so make sure you’re considering all avenues of possibility.
4. Find a Pro
There are professionals out there that can help you find your dream home, put in an offer, and button the sale up. You’ll want one of them on your side when you want to land the house you fall for. Here are a few tips for finding a real estate agent who’s best for you:
- Experience. Find an agent who has experience dealing with all different types of real estate transactions. New build? No problem. Home with sprawling acres? You got it. DIY fixer’ upper? Sure thing! Homie agents do hundreds of transactions per year. Most Homie agents will do more transactions in one year that a traditional agent will do their entire career!
- Service. Ask candidates what services they provide. You’ll want someone who knows how to negotiate on your behalf and fight for what’s right for you. Homie is a full service real estate brokerage. Our buyer’s agents are dedicated only to their buyers, so you’ll get top-notch service whenever you need it.
- Savings. How much will it cost you to use an agent? Many people will say “nothing”, but that’s not actually true. While you don’t necessarily pay your agent out of pocket, the sales process goes like this. Seller lists a commission for buyer’s agents when they list their home->they adjust the price of their home to accommodate the commission->you buy the home and (likely) finance it over several years. Did you buy the home? You basically just financed an agent’s commission for years to come. Ask your agent how they can help you save. Homie can refund up to $5k back of that buyer’s agent commission to you for closing costs!**
5. Use Homie to Land Your Dream Home
Buying a home is expensive, but you can save money when you buy your first home with Homie! You can get up to $5k back to go toward your closing costs when you use us as your buyer’s agent**. In addition to big savings, you can take advantage of Homie’s tech to get find your dream home with ease. Browsing homes and scheduling in-person tours can be done in just one click.
Sound like a dream? Nope. It’s just the Homie way. Click here to start house hunting.
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*Homie Loans™ and Homie have a business relationship in that both are owned by the same persons. Learn more.
**Terms and conditions apply. See homie.com for more details.