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Sanborn – Three tips for buying a home in 2014

Wanna buy a home this year? Here are three tips for buying a home in 2014...or any year for that matter!

1. Get a good New Hampshire realtor.

Just as sellers shop for realtors to sell their properties, to represent them, and protect their interests during the course of the transaction, buyers should also take some time before their home search begins and carefully select an agent with whom to work. It is, after all, the largest purchase you are likely to make (at least until you make enough to get that new Lear Jet you've always wanted). Having someone to guide you through the unknown territory here in the Lakes Region of New Hampshire is invaluable if you are from out of town. And, whether this is your first home or your last, having an agent to guide you to your dream property and then through the buying process itself makes the whole experience a lot easier.

All agents are not created equal. We all have different personalities, abilities, knowledge, and expertise. We all have different levels of dedication to our profession and livelihood. You should look for an agent who demonstrates an ability to listen to you, has demonstrated success, and has some experience under his or her belt. Look for someone who knows the market, is a dedicated full time professional, and most importantly find someone who meshes with your personality. Selecting the right Lakes Region realtor will lead you to your dream property on a much quicker and more direct path.

2. Deal with local Lakes Region lenders.

This is a biggie to me. If you are contemplating the purchase of a new home you probably need to borrow money like most folks. And whether this is your first or last home, the best advice I can give to you is to find a lender that has a local office. Dealing with someone here in the Lakes Region that both you and your agent can easily reach, meet with, and interact with in person as the financing process progresses is invaluable in today's market. Local lenders are usually much more responsive to you than someone half a world away that you will never see.

3. Educate yourself.

This is more important now than ever. You should educate yourself on the area, neighborhood, and community you are buying in, about the home buying process itself, the types of mortgages available, and the many advantages to home ownership as well as the costs and challenges. Taking a first time home buyer class is highly recommended if you are a newbie. The Laconia Area Community Land Trust offers frequent classes, so check out their website and sign up for one! Buying a home is, in itself, an educational process. As you look at properties, you will formulate your own sense of market values, realize what your real wants and needs are, and learn a lot about home construction to boot. Your home may be the biggest long term investment you'll ever make, so make it an educated one. And your realtor is there to help you with that, too!

We started off the year with 56 residential home sales in January in the Lakes Region communities covered in this report. The average sales price came in at $347,736. That's pretty good as there were 54 sales in January, 2013 at an average of $189,399. Every little baby step is a positive one.

Please feel free to visit www.lakesregionhome.com to learn more about the Lakes Region real estate market and comment on this article and others. Data was compiled using the Northern New England Real Estate MLS System as of 2/17/13. Roy Sanborn is a realtor at Four Seasons Sotheby's International Realty and can be reached at 603-455-0335.

 
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