It's March, which means it's time to summon the luck of the season. If you're new to the city or plan to relocate soon and don't know where to begin your home buying journey, you've come to the right place. Here are a few tips for finding your pot of gold in Tallahassee!
Define your needs and desires. What type of home are you looking for? Make a list of all the qualities you want in your home including the number of bedrooms and bathrooms, neighborhood, school zone, amenities, or any other important features. Keeping your priorities in mind will help you narrow down your options later. Be aware that the number of homes currently for sale is low compared to the number of buyers out there, so differentiating between “nice to have” and “need to have” may be essential to getting into a house in the current market.
Set a realistic budget. How much can you afford to spend? Be sure to include costs such as property taxes, homeowners insurance, and maintenance in your budget. Lenders suggest searching for homes that are 2 or 3 times your gross income. Many banks in Tallahassee can provide you with a loan if necessary. Prime Meridian Bank, Capital City Bank, and Truist Bank offer home loans; be sure to shop around for the best prices. Consider local credit unions like First Florida Credit Union as well!
Find the ideal neighborhood. Take into consideration that some Tallahassee neighborhoods are in high demand, so keep an eye on the market when homes in your preferred neighborhood become available. If you need to move quickly, consider larger neighborhoods, such as Piney Z, Southwood, and Killearn Estates, as there are typically multiple homes for sale in these areas in any given month. Alternatively, smaller neighborhoods or pocket communities, like Baker Place may require a longer search time as it’s a smaller community with fewer homes going on the market. It may also be worth exploring new construction, and buying in a new neighborhood, or purchasing a lot in your desired subdivision, and working with a builder.
Work with a local Realtor. Nobody understands the housing market better than those who work in it every day, and who better to do business with than those who live and love Tallahassee? Coldwell Banker Hartung has a team of experienced Realtors ready to help you find your dream home in Tallahassee.
Attend open houses and schedule viewings. Viewing homes can inspire you and help you find what you like. Peruse online and find opportunities near you. Tallahassee’s Parade of Homes is a great opportunity to scope out newly built homes and get inspired to find your next home!
Consider future resale value. While it is important to find a home that meets your current needs, you should also consider its potential resale value in the future. Look for properties in neighborhoods that have appreciation potential. This way, you can secure a valuable return on your investment later.
Negotiate wisely. Your Real Estate Agent can guide you through the negotiation process and advise you on what is reasonable given market conditions. As a buyer, you’ll typically have more leverage when homes are abundant on the market. However, if there aren’t a lot of homes in the area you’re looking to buy, or homes are selling quickly, giving the seller some incentive, via a flexible closing time, or other alternatives, may help ensure you get the home you want.
Be strategic.Finding the perfect home can take time, so having a clear understanding of your wants (and non-negotiables) will make the process easier. In some instances, you may have to move quickly to put in an offer, so the more pre-planning you do, the easier it will be to make a decision “under pressure”. With careful planning and dedication, you'll find a home that meets your expectations and is an ideal fit for you and your family.
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We hope we’ve given you some helpful tips for finding your dream home in Florida’s capital city. For more knowledgeable guidance, feel free to contact one of our many experienced Tallahassee Realtors to help you get started. With determination and some helpful expertise, you’re sure to reach the end of the rainbow in no time!
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