| Looking for a
home? Where should you begin? Home buying can be an
over whelming task. Think about any changes in your
life during the foreseeable future. Will there be changes
in your family size or with your vocation? What are your requirements
for the home?
Selecting the right Realtor is a challenge.
Eighty percent of the Realtors sell 2 houses a year. There
are approximately 7,500 Realtors in Montgomery County, Maryland
alone.
CHOOSE A REALTOR
The Realtor you want is a full time professional with
at least 5 million dollars in sales each year and at least
10 years of experience. The best way to find that Realtor
is though referrals. Decide if the one you have selected is
a good fit for you at the initial Buyer Consultation. Has
that individual meet the first requirements? Did they explain
the buying process to you? The Realtor should be patient,
professional, polite, knowledgeable, and willing to work at
your pace. An exceptional Realtor will listen intently
to you and visualize the kind of lifestyle you want to live
in your new home and will recognize the feeling you want in
a home. Yes, homes have a feel about them. Some are sunny
bright happy homes others are dark, dramatic, cold, elegant,
rustic and so on. You don't want a Realtor that will show
you every home on the market, nor do you want to be shown
luxury homes when they are not in your budget. It's too exhausting.
BUYING IN MARYLAND
Most people move every 2-5 years in our area. Consider keeping
your home for a minimum of 2 years so that you will avoid
paying 23 percent tax on the profit. Non-Maryland residents
must pay a six percent tax on the profit from the sale of
a Maryland home. The tax will be with held from the proceeds
at settlement. Ask your Realtor to refer you to a tax expert
for more information.
Most buyers need to use a step up process beginning with a
condo, townhouse and then a single-family
dream home. Homeowner's
use the equity from one sale to buy the next larger home.
This method is useful in today's expensive housing market.
So, plan for the foreseeable future-not for infinity.
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