So you’ve decided to buy a home? What next? Do you feel confident on how to proceed or are you a little anxious and uncertain about the process? In a sense, do you feel like you’re all alone (whether it is just yourself or you are purchasing with a partner)? You’re like a marathoner, solitary, alone, pounding the pavement. It’s you against the world.
Not so fast! Let’s take a look at what it takes to be a world class marathoner. He or she is far from alone. I spoke to a client of mine, Rex Baird who purchased a condominium, with my assistance, a couple of years ago and he trains professional and amateur athletes. He explained to me some of the people that a typical world class marathoner’s might have as part of his or her team:
Massage Therapist: At least once a week, for some, as often as twice a day
Personal trainer: Supervises weight workouts and may help with stretching
Stretching Specialist: If not handled by the personal trainer; May just set up the program.
Nutritionist: Anything from setting up a diet to actually cooking all the athlete’s meals
Chiropractor: Anywhere from twice per week to an as needed basis
Acupuncturist: To help with inflammation of various injuries, pain relief, energy levels and immune system boosting, etc.
Running Coach: Sets up long-range program between races and supervises workouts
Sports Psychologist: Helps with goal setting, visualizing successful performance, etc.
Agent: Works with race organizers, books ticket and accommodations, negotiates with race directors for appearance fees, prize money; may handle investments, money management
In essence, what appears to be a solitary runner striving to cross the finish line alone is really an individual with a full team. They work together and communicate regularly. The more focused the runner and more professional the team, the better chance the runner has of accomplishing his/her goal.
So, as you embark on a process of finding the right home, be sure you put a team of professionals behind you to help you realize your goals. Here are some of the professions I recommend you consider for your team.
Attorney: Will protect you from the legal pitfalls of a complicated process. From making sure you have clear title to negotiating your purchase agreements thereby adding a layer of protection to your transaction. I have been a full time real estate broker for over 30 years and I would not purchase or sell a property without engaging the services of a qualified attorney who specializes in real estate. In our local market, Kelly Gallagher, Esquire is extremely well qualified and delivers excellent service.
Real Estate Broker: All brokers are not created equal. Seek out a broker who has experience, integrity and works hard. They should have good negotiating and communication skills. Is current with the latest technology and is a full time Realtor. Also look for a broker who holds designations such as CRS, ABR, CRB, CBR, e-pro, etc. It shows that they are committed to staying current with industry changes and are interested in delivering the best service possible. And by the way, I’ve never heard a broker say they don’t work very hard, are dishonest, lazy and part time. So do your homework, go to open houses, ask for recommendations, interview a few agents and find someone with whom you can trust with your transaction.
Home Inspector: This is a key person on your team. They are your second and third set of eyes. Be sure he or she is licensed (if your state requires it), knowledgeable and accessible after you purchase. You’ll want to use this person as a resource when questions arise once you own the home. I also recommend that a purchaser test for levels of radon gas. There are varying perspectives in the industry as to just how big of an issue and problem radon gas presents, so go to this web site to start gathering information on the subject.
Pest Inspector: Termites, carpenter ants, rodents and other pests can cause a lot of anguish not to mention damage to a home. Be sure to verify their qualifications and find out if they are state certified. Understand how they treat a home in the event termites are discovered. Are they putting chemical in the ground or do they use a bait system such as a Sentricon system?
Lender: I am often asked if it is more advantageous to do business with a local lender, a large national bank or a mortgage broker. It really depends on your personal preference, your financial profile and current market conditions. I have had great success with Brian Keefe of Prospect Mortgage (one of our partners). Prospect Mortgage is a large national lender so they offer a complete line of mortgage products. Yet, Brian gives personalized service and is extremely well qualified having been in the mortgage business for over 20 years. For a local bank, you cannot find a better lender than Watertown Savings Bank. They have an experienced staff, solid reputation and competitive rates. But most importantly, their customer service and ongoing customer care is unmatched by any bank that I have dealt with during my years in the business. If you are interested in personalized service at the highest level, Watertown Savings Bank is the bank for you.
Insurance Agent: Protecting your home or investment after you purchase is a big concern and having the right insurance agent who specializes in homeowners insurance is extremely important. I can’t imagine trying to save a few dollars with one of the big national insurers at the expense of not being able to pick up the phone and speak with someone who knows you, your neighborhood and your community. Another reason I like to work with local insurance agents is because they typically carry a line of insurance companies and can shop rates for you, selecting the best carrier for you in your specific market. John Kelly Insurance in Watertown and Ark Insurance in Reading are two examples of local agents who know the communities that they serve and sparkle when it comes to serving their clients.
Financial Planner: It sound odd to be thinking of a financial planner as part of your home buying process, but now is a good time to analyze how purchasing a home will impact your future financial security. Andrew Betts, MBA of Brickling Financial Services in Lexington, MA is a Registered Investment Advisor who can point you in the right direction.
So, you’ve conducted your interviews, stopped by some open houses, and constructed your team. You can confidently go out and be an informed consumer and make solid decisions in finding the right home for you. Call you Realtor® and get started.
Oh, and one last person to consider for your team, Kristin Angeli, LMT of Main Street Massage and Wellness in Watertown, MA. Even with the perfect team, there will be some stress involved with the home buying process. What better way to heal than from a relaxing massage from a licensed professional?