Michigan Buyer's New Year's Resolutions

Here we are in a new year and a new decade, and many of us have made a few new year's resolutions by now.

We thought we'd give you a few real estate resolutions that you can resolve to stick to right now to help 2012 be the best year ever for the real estate you may buy.

I will get pre approval
You need to know how much you can afford! It's almost impossible to guess how much house you can buy. Go to a lender, and get that pre-approval. That will give you a bottom line, and that will help your house hunting happen much more efficiently.
I will have a realistic idea of the kind of property I'm after
Think about the features that will be most important to you and split those features in two. List the items you can't live without and then list the features you would, say, enjoy. Now, don't be too much of a perfectionist. You'll be refining the lists as your house hunt progresses.
I resolve not to forgo the home inspection
In fact, once your offer is accepted, set up a home inspection right away. I know, I know, home inspections can be costly and time consuming, but leaky roofs, cracked walls, insect infestations and foundation problems are even more costly and time consuming to deal with after the fact. You'll want to hire a reputable inspector, so you could ask for advice from your REALTOR, or contact a professional organization like the American Society of Home Inspectors and get a referral from them. If the inspector finds any problems, the seller will either fix them, or offer you money so you can have them fixed yourself. That all depends on how the contract was written. Some sellers prefer to have the work done themselves to save money, but some buyers prefer to get the cash, so they can make sure the repairs are done to their satisfaction. Again, look at your contract to see how that's all going to play out.
I definitely resolve to do my mortgage shopping
If you think about it, the difference of even half a percentage point on your mortgage will mean a considerable savings over the life of your loan. Here's an example: Let's say you get a $100,000 mortgage at 8%. Well, the difference between that and a mortgage at 7.5% is about $35 a month. Not too much, but over a 30 year loan period that's $12,600! So resolve to get your head down and do some homework. Hey, we comparison shop for good prices when we go food shopping, so shopping for a mortgage shouldn't be any different.
I firmly resolve to use a REALTOR
Purchasing a home can be the most important and complex financial transaction you'll ever be involved in and going it alone or with someone you have reservations about just isn't worth the risk. A good REALTOR can save you hassle; they can save you time and quite possibly save you money, so get recommendations, ask any friends or family who've had a REALTOR they've been happy with and choose someone who understands what you're looking for, and someone that you have a good connection with.

For buyers, that's a few real estate resolutions that are really worth sticking to this year.

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Michigan Buyer's New Year's Resolutions