Minneapolis is a great city to live in. Anyone looking to buy a home in this area will be glad to know that it is currently a buyer’s market. Like anywhere else, however, you need to make wise choices and be careful about every decision you make before you lock yourself into a property.

If you’re a new homebuyer, you owe it to yourself to do your homework and find out as much information as you can during the buying process. Below are six tips that will help make buying a home a rewarding experience.

1. Stop Paying Commission. Real estate agents can charge exorbitant commissions on homes they sell. And, of course, the more expensive the house, the more the commission. You can cap how much you pay an agent, however, with a flat fee rate.

2. Get a Comprehensive House Inspection. Make sure that the company inspecting the home covers the entire property. Some of your most significant concerns should be the condition of components such as roofing, plumbing, electrical, appliances, framework, insulation, HVAC units, water heaters, and windows/doors. This goes for buying a brand new home. Hire your inspector to take a look at the house just after it was built.

3. Thoroughly Read and Understand the Mortgage. By the time signing day comes around, you’re so exhausted by the process that you may get in a hurry to sign the papers. This is where many buyers make mistakes. The bottom line? Don’t buy the house until you have a complete understanding of everything in the loan and buying agreement.

4. Check Out the Neighborhood. Do your research and find out as much as you can about the neighborhood. Try to get a feel for the area and check out market values of the homes. Ask lots of questions. Talk to prospective neighbors, if possible.

5. Learn to Negotiate. Nothing is set in stone until you’ve signed the papers. So learn how to negotiate and what to negotiate with. Lenders and sellers will expect it. Therefore, you have nothing to fear. You’re getting ready to make your largest financial investment, so negotiate everything you can.

6. Who Built the House? Although no house is perfectly built, some will have flaws that could cost you money almost as soon as you move in. Find out who built the house and do your research on the company. A company’s reputation will tell you if buying the home is a worthy investment.

Home Avenue Can Help You Buy Your Home

Whether you purchase a “For Sale By Owner” home or “Realtor Listed” home you will always save money with Home Avenue. We offer flat-fee real estate on quality homes in the Twin Cities metro area, as well as Minnesota statewide. To schedule a consultation, call us at 952-929-7355, or you can message us at info@homeavenue.com. We are Minnesota’s most trusted realty company.