Buy Your Dream Home in the Snoqualmie Valley

You are thinking about buying a house – that’s so exciting!

Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. But, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home, and equity buildup, value appreciation, and tax benefits are at the top of the list.

Sandy’s advice: base your decision to buy on facts, not fears.

If you are paying rent, you very likely can afford to buy
There is never a wrong time to buy the right home. All you need to do in the short run is find a good buy and make sure you have the financial ability to hold it for the long run
The lack of a substantial down payment doesn't prevent you from making your first home purchase – there are several programs to help you in this very expensive market overcome this potential obstacle. The right lender will introduce you to all of them!
A less-than-perfect credit score won't necessarily stop you from buying a home
The best way to get closer to buying your ultimate dream home is to buy your first home now
Buying a home doesn't have to be complicated - there are many professionals who will help you along the way

Define Your Home Criteria

Things to consider when you are putting your home criteria together

You may think that shopping for homes starts with jumping in the car and driving all over town. And it's true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long-if weeks go by without finding what you're looking for, the fun can fade pretty fast. That's why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms.

Questions to ask yourself

What do I want my home to be close to?
How much space do I need and why?
Which is more critical: location or size?
Would I be interested in a fixer-upper?
How important is home value appreciation?
Is neighborhood stability a priority?
Would I be interested in a condo?
Would I be interested in new home construction?
What features and amenities do I want? Which do I really need?

Creating Your Home Wish List

Before the home search begins, your real estate agent will want to know as much as possible about the features and amenities you desire. To help your agent better serve you, analyze what you want and what you need in a home's features and amenities.

Additional Questions:

Age: Do you prefer historic properties, or newer ones?
Style: Do you have a special preference for ranches, bungalows, or another style of construction?
Bedrooms: How many?
Bathrooms: How many? Are they updated?
Living and Dining Areas: A traditional, formal layout, or a more open, contemporary plan?
Stories: How many?

Square feet: How much space?
Ceilings: How high?
Kitchen: How big? Recently updated? Open to other living areas?
Storage: Big closets, a shed, an extra-large garage?
Parking: A garage or carport? Room for how many cars?
Extras: Attic or basement?

Amenities:

Office
Play/exercise room
Security system
Sprinkler system

Workshop/studio
In-law suite
Fireplace

Pool
Hot tub
Sidewalk

Wooded lot
Patio, deck, or porch
Laundry room

Location, Location, Location

Where you buy not only affects the home's current and future value, but it also affects your lifestyle. Your agent will be able to conduct a more targeted home search if you outline your preferences in neighborhoods and nearby amenities. Here's a checklist of items you should consider and communicate to your chosen real estate agent.

Urban, suburban or rural
Commute time
School districts
Desirable neighborhoods

Proximity to the airport
Proximity to restaurants and retail
Access to major highways and thoroughfares

Access to public transportation
Health care facilities
Parks and recreation

Length of time you plan to live in the home (Your agent should be knowledgeable about growth trends and projections that could affect your investment.)

Opting For New Home Construction

Whether to buy an existing home or have one built is yet another decision to make during the home-buying process. If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms with the home builder. Below are some basic pointers to prepare you for the journey ahead.

Selecting a Builder

Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders.

The Builder Representative and Your Real Estate Agent

A builder representative's ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades. A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. Your agent also can look out for your interests in reviewing the builder's contract, which often contains more legal jargon than consumer-friendly language.

It's All About Timing

Market conditions greatly dictate a builder's incentive to make a deal you cannot refuse. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it's throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains.

A Word About Paying Up

While there are always exceptions, most builders require a deposit when a purchase agreement is signed. They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money. Make sure you understand every detail in the builder's contract before signing it.

How to Evaluate a House

It’s fun to look at houses and imagine yourself there. But it’s also easy for buyers to get excited about the features or amenities in a house and overlook the “nuts and bolts” of the property. Here are a few reminders to keep in the front of your mind as you are looking at houses.

Look at recently sold houses to get an idea of the difference between neighborhoods and amenities.
Check out comparables
Look at unsold comparables
When at the property look for structural issues, i.e. sinking foundation, cracked foundations, sagging beams, uneven floors, etc. All could point to underlying issues.
Look at the windows, do they open and close easily. Do they have screens. Are the single or double paned? Made of aluminum, vinyl or wood?

Look for signs of water damage – discoloration in the wall or ceiling is a tell-tale sign.
Is their asbestos coating on pipes or the heating system.
Lead paint could be a consideration for a property that was built before 1978.
Look at the electric panel – how old is it?
Evaluate the age of the appliances, kitchen, laundry, furnace, hot water heater? If appropriate are the pilot lights on?
Outside – can you see the property lines? Are there any easements or encroachments that you observe.

It’s important to be level headed and methodical about looking at a property so that emotion doesn’t cause you to fall in love with a property that might not be the best fit for you or could be the proverbial “Money Pit” down the road.

How Can a Real Estate Agent Help Me?

Seven main roles of your real estate agent

A Buyer's Real Estate Agent:

Educates you about your market.
Analyzes your wants and needs.
Guides you to homes that fit your criteria.
Coordinates the work of other needed professionals.
Negotiates on your behalf.
Checks and double-checks paperwork and deadlines.
Solves any problems that may arise.

A Word of Caution to Protect Your Investment

Unlike most major purchases, once you buy a home, you can't return it if something breaks or doesn't quite work like it's supposed to. That's why home owner's insurance and property inspections are so important.

A home owner's insurance policy protects you in two ways:

Against loss or damage to the property itself
Liability in case someone sustains an injury while on your property

The property inspection should expose the secret issues a home might hide so you know exactly what you're getting into before you sign your closing papers.

Your major concern is structural damage.
Don't sweat the small stuff. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.