Getting Prepared to Buy a Tahoe Home | Buyer
As a Tahoe Buyer before you take that first foot step into a Tahoe home, or condo for sale, it’s a good idea to thoughtfully determine your wants and needs, and the difference between the two!
Analyze Needs: By analyzing your needs you will be able to get a clearer picture of exactly what you want your new Tahoe second home to look like and how it should function for you. Once you’re in the thick of viewing Tahoe homes, it’s all too easy to fall in love with someone’s decorating, or a Tahoe home’s outstanding architecture – and to completely overlook that there aren’t enough bedrooms, or bathrooms to fit your needs.
Why are you ready to buy in Tahoe? First, you should write down why you’re looking for a Tahoe home. For example, are you currently doing a ski lease and would like to have a Tahoe home where you can begin building equity. Maybe you have outgrown your existing Tahoe condo and are ready to move up to a Tahoe Home. Financially your situation has changed, and you need to increase your Tahoe holdings, or are ready to make an investment in Tahoe real estate. Knowing why you’re looking for for a Tahoe home will have an impact on how you approach your Tahoe real estate property search.
Tahoe Property Features: It is important to identify what you envision your Tahoe home to look like and what features it should have. Writing this down helps to avoid ambiguity later on in the home search process. You should make at least two lists.
Dream List Tahoe Property Features: Your first list should describe everything you would ideally like in your Tahoe property.
Must Have Tahoe Property Features: The second list should have the features of the home that are an absolute must. It is most likely that you will blend the two lists into one as you progress through the Tahoe home buying process. This is a natural and evolutionary process that becomes clearer as you determine what you want and what is available.
Determine a Budget: Most Tahoe second home buyers have a budget in mind, and want to keep to it. It’s important to let your Buyers’ Agent know what your limits are upfront, and how you intend to pay for your Tahoe home – cash, or a loan purchase.
Buying Timeline: Most Tahoe buyers don’t start with a buying timeline, other than, they are in the market. Be honest with your agent, if you’re ready to buy now, let your agent know this. If you want to take your time, share that information too. If you are completing a 1031 Tax Exchange, timing does matter, and you need to share that information with your Tahoe Buyers’ Agent.
