Are you ready to buy a home In Wichita? Buying power has never been this big! 

• Are you ready to take advantage of the lowest mortgage rates since Eisenhower?
• And the higher than normal inventories?
• And home prices that must be near… or at the bottom?

Home ownership is an important step in life… and there is one huge thing to be learned from the recent burst of the housing bubble: You need to be prepared to make smart choices in buying your home. 

 Here are some specific points to recognize before jumping into the Wichita market & real estate ownership.

• Know the market in our local Wichita area (i.e. Wichita Ranches appeal to more buyers than multi-levels. Therefore, expect better resell value on Ranches or expect to get a better price for SF & ammenities on multi-levels…especially if Master is not on main level, etc.)
• Be very aware of what homes are selling for and what you should expect to pay…(in the specific neighborhoods you like & types of  homes that appeal to you.)
• Be prepared to acquire financing first. Interview LOCAL Wichita lenders (never use Internet or 1-800 lenders!), clean up your credit and get pre-approved for a loan  (Ambrose Team Tip:  Pre-Approval makes you look like a “cash buyer” when it comes to negotiating strength!)
• Once you know what you should expect to pay make sure that you have money saved for the down payment, typically between 5-10%  and 20%, although it can be as low as 3%.
• Have enough income and money set aside not just for your monthly mortgage payments but also for insurance, association fees, possible repairs that may arise and more.
• Get a Comfort Systems Home Warranty (the only local warranty company)…(Ambrose Team tip: Know which ONE warranty to avoid in Wichita…and why it happens to be the one offered most frequently!)
• Always, no matter what…get a home inspection…your REALTOR should ADVISE you on this…not just give you a list!! (Does your Realtor believe in advising you…or do they think they aren’t allowed to give advice? You better find out in advance!)

In a nutshell buying a home in Wichita or within our surrounding area is a big step, facing it responsibly will prepare you for your new venture. Owning real estate can be the BEST investment of your lifetime; jumping into a property you can’t afford or making a bad choice in what you buy can be a huge mistake.  Choose an experienced & ACTIVE Realtor, one with a solid reputation…that is actively working the market today (personally selling a minimum of 2-3 homes consistly every month). Look to that trusted Realtor to educate you on our local Wichita market, and recommend a trusted Wichita lender. Your Realtor should be able to  provide you with information & guidance so you can make an educated, smart selection! Your Realtor should be preparing you from day one on how to negotiate when you find the right property…so you can make the right moves, rather than learn a painful or costly lesson…causing you to miss out on a great opportunity. 

Ideally, you will want to consider a REALTOR that has already personally helped hundreds of other people buy & sell (or at the very least can explain that they are supervised closely by a great mentor) because that experience is priceless when it comes to giving you the best direction. This is not the market to serve as “practice” for an inexperienced or mediocre agent with limited resources…what market would be? 

If you know what you are doing everything is more likely to work out in your best interest. A great Realtor can put you “in the know” and is worth their weight in gold!

Whether you are making your first purchase…or contemplating selling so you can make a trade up or down… this is the opportunity market of our lifetime.

This is the market that will change people’s lives as they make smart buys …give yourself the best chance to be one of them!

 

Written by Katherine Ambrose, ABR, CDPE, CRS, GRI
Ambrose Team, Inc. 316.773.SOLD
Founder & Assoc. Broker: Keller Williams Hometown Partners LLC
316.807.5079
kambrose@kw.com

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