Located in the heart of Washington, Bellevue is a modern jewel of many joys and attractions. The town has long been acclaimed as one of the best places to live, largely thanks to its thriving economy, stunning natural beauty, and charm. Niche.com even grades Bellevue A+ for livability. If this and other things you have heard about the town make you want to move here, you will appreciate this guide on how to buy a home in Bellevue. Here are four things you should know before you start your journey.
The Bellevue Real Estate Market
One of the first things homeowners wish to know before they buy a home is the average home prices in their preferred town. Current estimates place the median price of a home in Bellevue at $800,000 – double the national median – with Zillow reporting the average home price as $1.3 million. According to the same estimates, the average mortgage is 6.93 percent. Getting a mortgage is a crucial step that Bellevue WA real estate agent Tom Covello will advise you to take before you even start looking at homes (more on this later). Overall, the Bellevue market is highly robust and competitive.
Available Property Types
Next to the home prices, an astute homebuyer is interested in the types of property available for purchase in a town. There is a wide range of homes for sale in Bellevue. Bellevue is a melting pot of different cultures and lifestyles which is evident in its different neighborhoods and residential homes. As a homebuyer, you have the option of expansive estates, cozy condos, artist lofts, townhomes, mid-century mansions, and more. Mid-century homes carry the history of Bellevue as much as its townhomes Belle community living. You can also find homes with views of Lake Washington.
Financing Your Purchase
Buying a home is a major financial decision – one of the most significant you will ever make. As such, it is crucial to do things right, which in this case, means getting pre-approved for a mortgage before you make an offer. Sellers want to know that you are serious about buying a home and will usually take a mortgage pre-approval letter as a sign of that seriousness. Take your time to shop for lenders, considering the rates, availability, and reliability of a lender, among other factors.
Hiring an Expert
Another crucial part of buying a home is hiring expert help. Chances are, even if you have bought a home before, you do not possess the knowledge and experience of the negotiation process and local Bellevue market of an experienced agent or broker. This is why you should resist the urge to go it alone and hire a professional real estate expert to help you. Your agent will handle all the technicalities of purchasing your new home, including listings, open houses, inspections, negotiations, and contracts.
Explore Bellevue Alongside Expert Tom Covello
The Bellevue real estate market is a competitive space, with houses experiencing high demand most of the year. This means you can expect a lot of competition during your home-buying process. If you want to give your offer the best chance, hire a Bellevue real estate expert like Tom Covello from the word go. Covello has over 3 decades of experience in real estate and the local market and can help you get your dream home with minimal fuss. Call his office today to learn more.
