How To Buy A House Online

Tips For Shopping For A House Online

Gustan Cho Associates are mortgage brokers licensed in 48 states

This ARTICLE On Shopping For A House Online Was Written By Staff Writer at Gustan Cho Associates

How to Buy a House Online:

  • The real estate industry continues to undergo a massive technological transformation
  • Years ago, real estate agents were frightened that online brokerages like Zillow, Trulia, and Redfin would put them out of business
  • Fortunately, online home sales have only helped independent brokers reach more customers.

In this article, we will cover and discuss Shopping For A House Online.

New Concept Of Shopping For A House Online

Buying a house online may have been inconceivable ten years ago, but now, it’s the first place you start to conduct your research.

  • Over the last five years, the number of houses available for sale has been steadily increasing, thanks in part to the ease of selling online
  • With all of that inventory, shopping for a home for sale in Ottawa online can help you see how many options you really have
  • It can also help you narrow them down quickly

Here, you’ll learn how to purchase a home online using any of your favorite trusted companies.

Narrow Down Your Criteria When Shopping For A House Online

Before you even log in to any website, you should know a few things about what you want. First, how much can you spend? What is the top of your budget and what is the ideal amount you would pay?

Next, what are the specifics you’re looking for? Bedrooms, bathrooms, basement, and garage. These are ordinary filters you may find on websites that you may use to search for your new home.

Last, you need to think a bit about square footage and lot size. How large do you need your house to be? If you’re looking for more space, it’s also essential to keep in mind that floor plan can largely determine how “big” a house feels and shaving off a few hundred feet can make a big difference when it comes to utility bills and mortgage size.

The lot size is easier- How small of a yard could you stand? If you have no desire for a yard (a zero lot) or are willing to accept 1/8th of an acre or less, your inventory options will be far more extensive than someone who wants at least 1/4 of an acre.

Fortunately, online websites have adopted AR technology and feature image galleries that allow for virtual tours of the house. This can help potential buyers visualize what they want and compare among different listings.

Realize There May Be More Inventory Offline

Even though putting a property for sale online is a common practice these days, many features are sold before this even happens. The competition for these properties may also be a little less, given that 90% of home buyers research online. If you are looking for something particular, it may be a good idea to contact a real estate agent that is affiliated with the type of homes or area you are looking for.

It’s easy to find these agents as their names and contact information are typically included on online property listings. Most agents have also partnered with many online brokerages to provide easy avenues to reach them and make a bid on a home in your interest.

Once you’ve contacted them and explained what you’re looking for, they may be able to point you in the direction of a few properties that haven’t yet been posted online or let you know when a new listing goes up. Remember, it never hurts to take a drive around your target area or just ask around some neighbors to see if there is anything up for sale or lease.

The Price You See May Not Be the Price You Have to Pay

While the price of a home in an in-demand area and during peak home-buying season may be what you need to pay, the same cannot be said for off-season sales or areas with lower demand. As inventory increases, as does your leverage as a potential buyer.

It’s generally less expensive to buy a home in the winter or fall when it’s harder to advertise curb appeal and most buyers are not looking.

Of course, whether you’re buying online or not, you’ll always have the leverage to negotiate a lower asking price, especially in a buyer’s market.

While the price of a home in an in-demand area and during peak home-buying season may be what you need to pay, the same cannot be said for off-season sales or areas with lower demand. As inventory increases, as does your leverage as a potential buyer.

Make the Most of Comparables

Again, when it comes to the listed price, you may be able to negotiate a bit. This is especially true if similar homes in the area have recently sold for less or are listed for less. This is an easy thing to research using standard online search tools. Simply look at other homes for sale in your neighborhood and across the region to see what price makes the most sense for you. Who knows, you may even find a better home more in line with your vision.

You can either use these to negotiate by yourself or leave that to an expert real estate agent. Further, a real estate agent may be able to use these to explain why a given house is listed for more before negotiations begin.

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