Marcia's Blog

Homebuying truths you may not know

A realtor plays an important role in the homebuying process, but there are a few things you need to know that your realtor may not share with you. Read on to discover why you need an entire homebuying team.

A realtor is an important partner on your road to buying a house, but it’s important to understand the role that your realtor plays on your homebuying team. Realtors make their money when you buy a house. They receive a commission based on a percentage of the sales price. That means the more expensive the house, the more money the realtor stands  to make. As a result, there are some truths that a realtor may not tell you. Here are a few, and why that information is important for you to know.


You might be spending too much. Just because you can afford to pay the mortgage on a particular house doesn’t mean you should spend that much money.  There are other costs that you will be responsible for, such as repairs and maintenance costs. And if you spend all of your money on mortgage payments, you will have little money left for other financial goals – and even fun!


Sometimes, your better option might be to buy a less expensive house so you have more wiggle room in your budget. Since a realtor makes more money when you buy a more expensive house, he or she might not be quick to tell you that.


You should check the realtor’s references before working with them. When you’re excited about buying a house it’s natural to want to move fast. I get it. You have visions of your dream house and all you know is you want to get through the process and move in. But the homebuying process is a complicated and often time-consuming one. You want to have people working with you who know what they’re doing and can help you achieve your goals. Before signing a contract to work with a realtor, ask him or her for three references of clients they’ve worked with in the past and then take the time to actually check them.


You can see a home more than once. Searching for the right house can sometimes be more challenging than you initially expected. You might see a house once and then question whether it’s the right house. Did you know that you can ask your realtor to take you back to a house you already visited? I’ve come across homebuyers who didn’t know that or who were afraid to ask their realtor to take them back to a home they’ve already seen because they don’t want to be a burden. However, remember, the realtor is working for you. It’s their job to help you find the perfect house for you and that could mean that you need to see that house more than once.


In saying this, I’m in no way criticizing realtors. In fact, a good realtor can be critical to helping you to find your ideal home and achieve your dream of homeownership.


However, when you’re buying a house, you also need someone who is truly in your corner. If you want someone who is going to have your best interests in mind, consider meeting with a homeownership advisor at HomeFree-USA. They don’t make money when you buy an expensive house so they have no motivation to tell you what you want to hear.  They are simply there to guide you and to educate you. They can also help to relieve much of the homebuying anxiety that you may experience.


The bottom line is you need a good realtor, a good lender and a good advisor. Contact HomeFree-USA to get an advisor that can help you to pull things together. Having the right homeownership team makes all of the difference.