21 Expert Tips from Real Estate Agents for Buying a Home

 When you're ready to buy a home, tapping into the expertise of real estate agents can be invaluable. We asked four of our partner agents to share their best advice on staying on budget in a competitive housing market. Whether you're a first-time buyer or a seasoned homeowner, these 21 tips can help you navigate the journey to homeownership.

1. Find Your Financial Comfort Zone
Shelly Salas, a broker with Your Home Sold Guaranteed Realty, emphasizes the importance of getting pre-qualified for a loan to understand your purchasing power. She advises clients to consider their current rent and desired lifestyle when determining their budget. "Just because you qualify for a higher loan doesn't mean you want to stretch your finances thin," Salas says. "It's about finding a home you love within a comfortable budget."

2. Explore Government Programs for Down Payments
Government programs can assist with down payments, even if only one partner has never owned a home. These programs offer various incentives like low-interest loans and grants, which can significantly reduce the amount you need to borrow.

3. Assume a Seller’s Low-Interest Mortgage
In some cases, you can assume a seller’s low-interest Veterans Administration (VA) loan, potentially saving hundreds per month compared to current rates. This option is available even to non-military buyers, provided they qualify.

4. Negotiate Concessions from Sellers
Salas advises not to shy away from negotiating with sellers, even for large concessions like solar panel payoffs. Using market data to support your negotiations can be a powerful tool in securing a better deal.

5. Choose an Experienced Agent with Good Reviews
An experienced agent can navigate market dynamics effectively, saving you money and helping you find the right home. Look for agents with positive reviews and a proven track record in your desired area.

6. Secure Financing Early
Winston Murray, founder of Works Real Estate Company, suggests starting conversations with lenders early to clarify your purchasing power and prepare for different interest rate scenarios.

7. Consider a Fixer-Upper
Buying a fixer-upper can offer value if you're willing to put in the work. However, ensure the home is priced correctly and that you have the skills or budget for necessary improvements.

8. Look at New Construction
New homes often come with financial incentives and customization options. Murray advises checking the builder's reputation and the quality of their past projects.

9. Be Willing to Compromise
Murray notes that it's rare to find a home that meets all your criteria. Prioritize what matters most and be flexible on other aspects to find a suitable home.

10. Explore "House Hacking"
Consider buying a multi-family property and living in one unit while renting out others. This strategy can help offset your mortgage payments and build investment income.

11. Keep an Eye on Homes Lingered on the Market
Murray suggests looking at homes that have been on the market for a while, as they might offer more room for negotiation.

12. Watch Out for Hidden Costs
Marcus Larrea, founder of Palm Paradise Realty, warns about hidden fees like insurance costs in flood zones or condo assessments that can impact your budget.

13. Bring a Contractor to the Home Inspection
If you're considering a home that needs work, a contractor can provide cost estimates during the inspection, helping you budget accordingly.

14. Use Your Agent’s Connections for Discounts
Good agents can connect you with tradespeople and suppliers for discounts on repairs and upgrades, adding value to your purchase.

15. Consider Different Loan Types
Explore various financing options with your lender, as different loan types have different requirements and benefits.

16. Consider Buying Now and Refinancing Later
With rising home prices, Larrea advises buying sooner rather than later and refinancing when rates drop, as waiting could mean higher costs.

17. Focus on Non-Changeable Home Features
Jason Farris, founder of FresYes Realty Group, suggests prioritizing features that are expensive or impossible to change, like lot size or location, and being flexible on things like finishes.

18. Pay Attention to Lot Size
Lot size can be crucial for adding future features like an accessory dwelling unit (ADU) for multi-generational living or rental income.

19. Cast a Wide Net in Your Search
Farris also recommends looking beyond the MLS, including platforms like Zillow, and even contacting owners of expired listings to find potential sellers.

20. Look for Flexible Spaces
Consider homes with bonus rooms or flexible spaces that can be converted to meet your needs, potentially saving you money compared to buying a larger home.

21. Weigh the Costs of Waiting to Buy
Waiting to save more for a down payment can mean missing out on market gains. Farris advises finding a way to get into a home now, even if it requires a bit of compromise or additional financing.

These tips from seasoned real estate professionals can guide you through the complex process of buying a home, ensuring you find a property that meets your needs and fits your budget. Happy house hunting!

These agents are members of Zillow’s Premier Agent Advisory Board, a panel of agent partners who provide insights and expertise to Zillow.