A Gen-Z's Guide to Life and Real Estate

Starting the home-buying journey can be tricky. Let me break it down for you. I have provided a list below of the key points.

Being a Realtor, I like to say you should treat this like you are dating the people who are going to help you buy a home. Maybe you find the perfect fit right away, but maybe it takes a few interviews before something clicks. Take your time!!

1. Find a Realtor – This can be swapped with #2 if applicable. Ask friends and family if they have worked with a Realtor recently, and what their experience was like. Make sure to take some time to interview multiple Realtors too. Find a person that understands your goals, is finding resources to make them happen, and lastly make sure you like them. You don’t have to work with the grumpy person just because they ‘know their stuff.’ Buying your first home should be fun and exciting! It also doesn’t hurt to do some research on them. Find out what strangers are saying about them online!
2. Find a Lender – Again, this could be step #1. Maybe you love your bank, you trust them from the start, and you want them to service your mortgage. Great! That was an easy choice! If you don’t have a lender in mind, ask your Realtor who they like working with, and who might be a good fit for you based on your conversations. Remember, the more local the lender is to your target market, the better! If you chose this step first, ask your lender if they have any recommendations for Realtors. The last and just as important thing to remember about choosing a lender, is find one that cares about your situation, both financially and personally.
3. Ask as Many Questions as You Want!!! – You might feel like you are bugging your Realtor or lender, but they understand this is a big life event. Ask questions, pick your agent’s brain about the market, and ask your lender about the loan process. Hopefully they have already gone through these things with you, but never be afraid to ask and try to learn more.
4. Your Search – Alright, you have your pre-approval, you have your new Realtor buddy, and you are ready to get the ball rolling. Make sure you are set up on a search in the area that you are looking. Zillow, Realtor.com, and Redfin are great when you are just browsing around, but your Realtor should have access to programs that allow you to receive notifications as soon as listings hit the market, you don’t want to miss out on opportunities, especially in a fast moving market. Another thing is try to keep an open mind, you will be surprised how different the pictures and reality are. Real Estate Photographers are great at what they do, remember things may not always be as they seem.
5. Showings – This will be the longest part of this blog, but for good reason. Showings are arguably the most fun part of the buying process. Okay, they are the most fun part, but you are making a big decision, and in a fast-paced market, you are making that decision very quickly. Remember that when you are in the home, you are trying to visualize yourself living in the space and remember that cosmetic things like, paint, carpet, light fixtures, tubs, vanities, kitchen cabinets and counters, can all be changed. The space itself, typically cannot, though I suppose that depends on your budget… Keep you focus on layout, functionality, character and of course, location location location. Showings give you the opportunity to go into houses and create a list of things you like, thing you hate, and things you have to have. They are just important for your Realtor as they begin to learn more about what is important to you. During you showing, you Realtor will likely remind you of this as well as point out certain things that might be interesting or potential concerns.
6. Writing an offer – I will leave this to your agent, but it might be a good idea to ask them for a blank copy of an offer so you have the appropriate amount of time to review it before your agent sits down with you to explain it and how to work with it to get you an accepted offer.
7. Examples of Terms/Contingencies: Binding Acceptance, Closing/Settlement Date, Earnest Money/Deposit, Inspection, Financing, Appraisal, Closing Prorations, etc…
8. Accepted Offer!!!! – Okay, now things are getting real, now all of your timelines defined in your offer begin, such as: earnest money (if applicable), inspection, financing, etc.. begin. You are on the home stretch.
9. Closing – Congratulations!!! You made it, it is now time to move in, potentially start some projects, and make that house your home. Give yourself a pat on the back 🙂

Now, of course, there is A LOT more to buying a home than a nine-point list. There are plenty of deadlines to meet, potential negotiations, potential rejected offers, and one substantial transfer of funds to go through to get to the end, but remember to take one step at a time, be persistent, and, like I mentioned before, have fun!

If you have any questions about the home-buying process in the Dane County, WI, area, feel free to reach out. I am always happy to be a resource!