To supplement the preliminary homebuying “to do” list featured in my last column, here are some additional tasks that I would recommend for any homebuyer:
• Determine your “type:” In real estate, one size doesn’t necessarily fit all. Assess your situation and outline the pros and cons of different types of homes (single-family homes, condominiums, townhomes, single-story, split-level, etc.). For instance, a single-family home is ideal for a growing family, yet it will cost more and may require more maintenance in the long run. A condominium offers the convenience of a “lock-and-go” lifestyle, but you’ll have a lesser degree of privacy. Drafting a list of pros and cons can reveal the bigger picture.
• Run the numbers: Home pricing, especially in today’s market, can be very mysterious. To gauge current home prices in Maui’s housing market, it’s a good idea to do a little research. On your own (or with the help of a real estate professional), look up the most recent comparable sales data to get an accurate reading.
• Enlist the help of a professional: I advise all potential buyers to avoid “do-it-yourselfing.” Enlisting the help of an experienced real estate professional will make the buying process more fluid—and help you avoid any unnecessary headaches in the short- and long-term.
And this checklist is just the tip of the iceberg, so to speak. Every buyer is unique, and depending on your needs, there may be other variables to consider, which is why it is so important to use an experienced real estate professional. Without question, buying a new home is one of life’s major milestones—so it is your right to be a little picky when making such a significant decision.
Josh Jerman is a realtor/broker with The Wailea Group, LLC, located in The Shops at Wailea at 3750 Wailea Alanui Drive, Suite 5EW. He serves on the Realtors Association of Maui (RAM) Board of Directors, RAM Education Committee and the Hawai‘i Association of Realtors’ Finance Committee. To “Ask Josh,” send your questions to Josh@JoshJerman.com or call (808) 283-2222.