Minneapolis Minnesota Real Estate Blog

Downtown Minneapolis Condos - How to Buy Your First Condo the Easy Way! Avoid the 10 Most Common, Painful, Frustrating Mistakes First-Time Condo-Buyers Make

Buying Downtown Minneapolis Condos can be a hair raising experience. You will experience a roller coaster of emotions while finding the right place, securing the loan and finally moving in.

For most of us, the first time Downtown Minneapolis Condos purchase is the largest investment we’ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.

Most Downtown Minneapolis Condos purchasers do little or no research before they invest their nest egg. Doesn’t it make sense to become as completely informed as possible before you buy your first home? This special report is designed to help you avoid 10 common and crucial mistakes.

The right Downtown Minneapolis Condos professional can help you make good, sound business decisions based on your personal situation.

1.Inspect, Inspect and Inspect - Go over the inspection report with a fine tooth comb. Make sure the report was done by a professional organization.

For Downtown Minneapolis Condos purchases, go over the, by-laws, and Association Fees. Don’t take anything for granted... inspect everything!

2.Imagine the Downtown Minneapolis Condos Property Vacant- Your furnishings and decorations will be the ones filling this new residence. Don’t be swayed by beautiful furniture; it leaves with the owner.

3.Income + Lifestyle = Mortgage Payment- Sit down with your Downtown Minneapolis Condos real estate agent and honestly discuss your income level and living expenses. Take into account future considerations, children, add-ons, amenities, and fix-ups. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.   

4.View Several Downtown Minneapolis Condos - See at least 7-10 properties. Don’t move too slowly, but don’t move on the first property you see. With your agent’s help, you should be able to view enough properties to get a good overall perspective of the home market. When you find the right property, all the leg work will be worth it.

5.Utilize Your Team - By aligning yourself with the right Downtown Minneapolis Condos professional, you will have an entire team at your disposal. Utilize your lender, title rep and agent. Each of them should work hand in hand for your benefit. Explore all the options before you sign.

6.Be an investigator- Check out all Downtown Minneapolis Condos costs and expenses before you sign- utilities, taxes, insurance, maintenance and home owner dues if applicable. Make sure all utilities (gas, electricity, and water) are on during your walk-through so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

7.Do a Final Walk-Through- Visit the Downtown Minneapolis Condos property after all furnishings have been moved out to be sure there are no surprises. Be absolutely positive the property was left exactly as you had agreed upon in the contract. Things that could have been spotted in a final walk-through are often unintentionally overlooked.

8.Plan For Flexibility- Closing dates are not written in stone. Allow for contingencies and have a back-up plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let these delays upset or frustrate you. These types of circumstances are not uncommon in a Downtown Minneapolis Condos transaction.

9.If It’s Not In Writing, It Doesn’t Exist- All promises and discussions should be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your professional keep an ongoing log in writing of all discussions and get the Downtown Minneapolis Condos seller’s written approval on all agreements.

10.Loyalty Breeds Loyalty - Be open, honest and up front with your Downtown Minneapolis Condos team. Hard feelings and disloyalty will cause head aches and delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning, and your first home purchase will be a pleasing and memorable experience.

There is a lot of free information available to you about buying, selling or investing in  Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis condo market including current condos lofts for sale, values, and more please visit the most complete website online www.LivingInDowntownMinneapolis.com dedicated to everything Downtown Minneapolis Condos.  Contact Mike Weiland & Elke Stephan of The Weiland Group with any of your real estate or mortgage related questions by filling out the form below.

P.S. Free weekly list of Downtown Minneapolis Condos including private listings and foreclosures in the most popular locations call the 24 Hour Recorded Information Hotline Now for details...1-888-391-9039 Ext. 126 or visit www.LivingInDowntownMinneapolis.com.