For many in Central Oregon, now is the perfect time to buy real estate. In addition to being a great investment, many people find it makes more sense to buy, rather than rent, with the Central Oregon rental vacancy rate hovering around one percent. If you’re considering buying a Central Oregon home, there are several tips Village Properties at Sunriver suggests to navigate the real estate landscape.
Navigating Your Central Oregon Home Search
- Do Your Legal Research – Real estate is local to the area, which means each state and sometimes each county can have different laws regarding real estate transactions. Consult with a real estate broker about the laws in Deschutes County and how they will affect the purchase of a new home.
- Get Your Finances in Order – Buying real estate, be it in Central Oregon or elsewhere, is a large investment. If you’re considering buying real estate, be sure to take steps towards getting your finances in order. Hold off on opening new credit cards, changing jobs and carefully watch how you’re spending your money. By showing lenders you have stable finances, you’re more likely to lock down a great mortgage rate.
- Interview a Few Lenders Before Diving into the Central Oregon Home Search – Before truly starting the Central Oregon home search, start by talking to several lenders. Comparing companies can help you find a lender you’re comfortable with and solidify your financial backing.
- Choose the Right Time to Buy – While times of economic downturn result in a buyer’s market, times of economic growth often benefit sellers. It all comes down to supply and demand.
- Do Your Neighborhood Research – No matter where you live in Central Oregon, it’s bound to have advantages that are attractive to your lifestyle. While many communities have similarities, it’s important to do your research. Is it important for you to have land and easy access to nature? If so, maybe Sunriver, La Pine or Sisters would suit your lifestyle. Want to be close to family activities and community culture? Consider Bend’s Northwest Crossing neighborhood.
- Choose a Broker You’re Comfortable With – Real estate brokers offer buyers a wealth of knowledge about the local market and can help locate properties within your price range. When it comes to a large investment like real estate, it’s important to feel comfortable with your realtor. Interview several brokers before settling. Don’t feel bad about not going with the first person you talk to, or even the fifth. This decision affects your life, so be sure to choose a realtor you can trust.
- Be Realistic – While we all have this vision of the perfect home, it’s important to be realistic in our expectations. Make a list of priorities; your must-haves and the items you can compromise on, and use these criteria to help guide your home search. While your “perfect” home may exist, it just might not be in your price range, which is something to be prepared for. A realtor can help you meet as many of your criteria as possible, but it helps to know ahead of time what items are most important to you.
- Trust Your Gut – While it might be nice to get some input from a few trusted friends and family members about your Central Oregon home search, keep in mind that too many differing opinions might leave you feeling a bit overwhelmed. Keep in mind that you’re the one making the final decision and remember that your own opinion is the one that matters.
- Insist on a Home Inspection – In a competitive market, most buyers might only walk through a home once and some might even make an offer, sight-unseen. Protect yourself and your investment by having a home inspection done. Find out everything you can about the home before signing on the dotted line.
- Have Fun – We know that while a Central Oregon home search can be stressful, there’s great reward in being a homeowner and then the real fun starts. Remember to keep it light. If you follow these tips, you’ll avoid additional stress and be able to navigate the Central Oregon home search like a seasoned veteran.
Are you ready to begin your Central Oregon home search? Village Properties at Sunriver is home to some of Central Oregon’s most trusted real estate brokers. We’re ready and eager to help you navigate the real estate landscape with ease – no matter where you’re searching throughout Central Oregon. While we’re located in Sunriver, we serve all of Central Oregon.
