Buying a Home in Palmetto Bay: What You Need to Know
Palmetto Bay is a quiet, family-friendly neighborhood known for its plentiful green space and high-quality schools. Many new families move to Palmetto Bay in search of a “small town” atmosphere that’s not too far from the shopping, restaurants, and bustling activity of the Gables and Miami.
Palmetto Bay typically has plenty of houses for sale, and prices are actually pretty reasonable despite the village’s massive appeal. So, if you’re thinking of buying a home in “The Village of Parks,” it’s recommended to be prepared for a quick sale while simultaneously proceeding with caution.
Here are a few key things to keep in mind when looking at houses in Palmetto Bay, Florida:
Work with an Experienced Palmetto Bay Real Estate Agent
Step one for buying a home in Palmetto Bay is finding an experienced local real estate agent. If you’ve chosen to move to Palmetto Bay – as opposed to another subset of Miami like Pinecrest or Cutler Bay – it’s probably for fairly specific reasons. It’s your agent’s job to not only find you a home that suits your desired lifestyle, but also explain what to look for in this type of home. Narrowing down your options is especially important when they are so many homes for sale.
The right agent for you should have significant experience with the kind of houses you’re looking for, especially in regard to price point. So, you may have to interview a few agents before you find someone you’re comfortable with.
Get Pre-Approved For a Mortgage
Homeowners in Palmetto Bay know they have other sellers to compete with. When someone expresses interest in their home, they’ll want to capitalize on this opportunity as quickly as possible and facilitate a quick and smooth sale.
Well, one way to help your seller do that is getting your mortgage pre-approved. Pre-Approval makes your offer stronger than just being pre-qualified. Pre-Approval tells the seller that you’re serious about buying and won’t get their hopes up just to find out you can’t get afford their home. Lots of people may be looking at houses in Palmetto Bay, but not all will have made the effort to secure financing and determine exactly what they can and cannot afford.
Get a Thorough Home Inspection During the Inspection Period
Palmetto Bay is filled with gorgeous, move-in ready properties, but you should never buy a house based on its appearance alone. While the property looks perfect, it is always essential to get a thorough home inspection to ensure there are no hidden issues requiring costly repairs.
The kitchen and bathroom may be up to date, but the home’s core systems most certainly deserve to be inspected. If your inspection uncovers minor issues, the seller may be willing to negotiate a credit or price reduction to prevent the sale from falling through. If your inspection uncovers major issues – like deteriorated cast iron plumbing or an aging roof – you can decide to walk away from the sale or negotiate a substantial decrease in purchase price.
Are you looking for a new home in Palmetto Bay? If so, a great first step is contacting a local restate agency, and the Kern Team is happy to be of service. We’ll walk you through each stage of the home buying process and help you find a home that suits your budget and lifestyle. Get in touch today for any questions about buying a home in Palmetto Bay or any subset of Miami!
