Today, there are 800 homes for sale in Carmel Indiana! If you are thinking about buying one of them, here are five secrets you should know as you begin your search.
- Be sure you have spoken to a lender FIRST. There is nothing more disappointing than looking at homes and falling in love with one only to find out you cannot afford it. The general rule of thumb, and I mean “general” is 2 1/2 times your earnings for your mortgage amount. So if you make $100,000 you can mortgage $250,000. Remember you must have at least 3.5% to put down making your purchase price right about $260,000. This of course all depends on your credit and debt ratios. If you need a lender, let me know. I have three that are outstanding in their business and highly responsive.
- When looking at homes, play the substance versus style game. Determine what things are important to you BEFORE you start to look at a home. If a big yard is important to you, it is a substance item meaning we cannot change the size of the lot. If you want an open floor plan, that may very well be a style item because moving walls can be done. If you know a home won’t work as soon as you walk in, move on. Your time is valuable.
- Go by the home you are interested in at different times of the day to understand the neighborhood or traffic patterns for example. If I have a relocation client that is going to work downtown and is looking at a home that must use I69 to reach; I need to be sure they drive that at 5:00 to understand the traffic snarls.
- Look at things other than the layout of the home, look at baseboards, in ovens and at the ceilings, especially the registers. How a seller takes care of visible items gives clues to how they takes care of the home in general. If you are buying a used house, which most people do, you want to be sure it is well maintained.
- Be sure your Carmel Realtor runs the comparables and analyzes the data to the point that YOU understand it. A price per sq ft is a good starting point, but the history on the property is also important. Things like how long it has been on the market matter. I try to be sure I get a list of any updates to the home for the listing agent (likewise I have this ready for my listings). If possible, know the seller’s motivation. If they have already bought a house, they might be more apt to negotiating.
Buying a home for sale in Carmel is easy in some respects, the community has great schools, wonderful events and an amazing appreciation rate on homes. But, you want to be sure you have considered these five points before you start!